Article By RoboForex.com
Forecast for January 13th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. It looks like earlier the price completed the wave [b] in the form of thezigzag and then started forming the ascending wave [c]. During the next several days, the pair may resume its ascending movement.
More detailed structure is shown on the H1 chart. After finishing the diagonal triangle in the wave (c) of [b], the market has formed the bullish impulse in the wave (i). Right now, the price is moving downwards in the wave (ii), which may be followed by a new ascending movement.
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the downtrend continues. The pair is still forming the bearish impulse in the wave [iii]. During the next several days, after completing the local correction, the market may continue falling and reach several new lows.
As we can see at the H1 chart, the price may have already finished the wave (iii). Probably, on Tuesday the pair completed the wave v. In the nearest future, the market is expected to be corrected in the wave (iv).
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USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming the descending zigzag C inside the larger correction. During the next several days, the price may continue falling in the wave [c] of C.
At the H1 chart, Yen is falling in the wave [c]. On the minor wave level, the price is being corrected in the wave (iv). In the future, the market may continue its decline inside this bearish impulse.
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that Australian Dollar has completed the wave [iii] and right now is being corrected. The formation of the wave [iv] may take the whole week. Later, the market may resume falling in the wave [v] of 5.
At the H1 chart, the price is about to finish the zigzag in the wave (a). On Wednesday, the market may start forming the descending impulse in the wave (b).
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
