Wave Analysis 30.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

30.05.2016

Forecast for May 30th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is about to finish the descending impulse in the wave [i]. On the minor wave level, the price completed the fourth wave at the end of the last week and right now is finishing the fifth one. On Monday, the pair may fall a little bit, but later the market is expected to start a new ascending correction.



More detailed structure is shown on the H1 chart. After finishing the zigzag(iv), Eurodollar started forming the fifth wave. At the moment, the price is completing the wave iv of (v). Consequently, during the day the market may fall in the wave v of (v), which may be followed by a new correction.




GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound has completed the wave (ii). Earlier, the price formed the descending impulse in the wave (i). Consequently, in the nearest future the market may fall in the third wave (iii), which may be extended.



As we can see at the H1 chart, Pound has finished the wave c of the zigzag(ii). On Monday, the price may continue falling in the wave i, which may be followed by a new correction.




USD JPY, “US Dollar vs Japanese Yen”

It looks like Yen continues forming the bullish wave (i). Earlier, after finishing the extension in the wave iii, the pair formed the wave iv. In the nearest future, the market may complete the wave v of (iii) and start a new descending correction.



As we can see at the H1 chart, the wave iv has taken the form of the horizontal triangle. At the moment, the pair is moving upwards in the wave v of (i). Later, after finishing the current ascending impulse, the market may start a new correction.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is about to finish the descending wave [i]. Last week, the price completed the fourth wave in the wave [i]. On Monday, the market may finish the wave (v) of [i] and then start a new ascending correction.



At the H1 chart, after finishing the diagonal triangle in the wave v of (iii), Australian Dollar formed the fourth wave. It looks like right now the market is already falling in the wave (v) of [i]. on Monday, the price may yet fall a little bit and break the minimum, but later it is expected to start a new correction.



 
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.