Wave Analysis 09.08.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

09.08.2016

Forecast for August 9th, 2016

EUR USD, “Euro vs US Dollar”

In case of the EUR/USD pair, the main scenario remains bearish. After finishing the wave [iv], the price completed the descending impulse in the wave (i). It’s highly likely that in the nearest future the market may continue falling in the wave (iii).



More detailed structure is shown on the H1 chart. It looks like the pair has completed the second wave in the wave (iii). Consequently, on Tuesday the market may move downwards in the wave iii of (iii).




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair continues moving downwards slowly. Earlier, the price probably finished the wave [ii] in the form of the double three. Consequently, in the nearest future the market may continue falling and soon break the low of the wave [i].



As we can see at the H1 chart, after finishing the wave (ii), the pair has completed the descending impulse in the wave i. It’s highly likely that in the nearest future the market may continue falling in the wave iii of (iii).




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still forming the wave [v] of C. It looks like right now the price is about to finish the fourth wave inside the extended wave (iii). As a result, quite soon the market may start falling in the wave v of (iii).



More detailed structure is shown on the H1 chart. Probably, the pair has finished the wave iv in the form of the zigzag. Later, the market may move downwards in the wave v of (iii) and reach a new low.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair continues forming the diagonal triangle in the wave [c] of 4. On a shorter timeframe, the price is about to complete the fifth wave. As a result, if the market rebounds from the pattern’s upside border, it may start a new descending movement.



More detailed structure is shown on the H1 chart. It looks like the price is forming the ascending impulse in the wave c of (v). On Tuesday, the local growth is expected to continue and the market may reach several new highs.



 
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.