Wave Analysis 13.06.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
13.06.2016
Forecast for June 13th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the price continues forming the descending impulse in the wave (i). It looks like earlier the pair finished the wave [ii] in the form of the zigzag. Consequently, in the nearest future the market may continue falling.
As we can see at the H1 chart, Eurodollar is finishing the fourth wave in the wave (i). As a result, on Monday the price may fall in the wave v of (i) and then break the local low.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming the third wave in the extension in the wave (iii). In the nearest future, the market may be corrected and then reach new lows while forming the descending wave v of (iii).
More detailed structure is shown on the H1 chart. It’s highly likely that Pound is forming the third wave in the descending wave iii. As a result, during the day the price may continue falling.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has formed the horizontal triangleb in the wave (ii), which is taking the form of the zigzag. Later, after finishing the wave c, the market may resume growing. To confirm this scenario, the pair has to form the first wave in the wave (iii).
As we can see at the H1 chart, after finishing the wave c, Yen has started falling in the wave c of (ii). Taking into account the speed of the current bearish movement, we may assume that before starting the wave i of (iii), the pair has to finish the wave (ii).
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that Australian Dollar has completed the zigzag in the wave [ii]. Earlier, after finishing the wave 4, the price formed the descending impulse in the wave [i]. To confirm a new decline in the wave [iii], the market has to form the descending impulse in the wave (i).
As we can see at the H1 chart, the price is about to finish the wave iv of (i). As a result, on Monday Australian Dollar may continue falling in the fifth wave and break the local low. Later, after finishing the wave (i), the pair may start a new correction.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.