Wave Analysis 19.01.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
19.01.2016
Forecast for January 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues moving sideways. It looks like the price is forming the horizontal triangle in wave 4. During the week, the pair may continue falling in the wave [d] of 4.
More detailed structure is shown on the H1 chart. Probably, the price is starting falling in the wave (c) of [d]. During the day, the market may reach a new local low and continue forming this impulse.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still falling in the wave [iii]. Earlier, the pair formed the wedge in the wave [i] and the correction in the wave [ii]. It’s highly likely that in the nearest future the market may continue falling and reach a new low.
As we can see at the H1 chart, after finishing the wave (iv), Pound has formed the bearish impulse i. Probably, on Tuesday, the market may complete the local correction and resume moving downwards in the wave iii of (v).
USD JPY, “US Dollar vs Japanese Yen”
Yen is still falling in the wave [c] of C. Earlier, the pair completed the ascending impulse in the wave [c] of B. It’s highly likely that in the nearest future the price may continue falling and reach a new local low.
As we can see at the H1 chart, the price is forming the diagonal triangle in the wave (v). Earlier, the pair finished the extension in the third wave and the correction in the fourth one. During the day, the market may resume falling.
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar continues forming the extension in the wave [iii]. On the minor wave level, the market may continue falling in the wave (iii) and reach a new local low.
At the H1 chart, the price may form the extension in the wave iii. Earlier, the pair finished the wave (ii) and the bearish impulse in the wave i. In the nearest future, the market may continue its descending movement.
RoboForex Analytical Department
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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.