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Technical Analysis
Technical Analysis by RoboForex
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[QUOTE="RoboForex, post: 108513, member: 38751"] [SIZE=5][B] Forecast for August 26th, 2016 EUR USD, “Euro vs US Dollar”[/B][/SIZE] The main scenario remains bearish. It looks like after finishing the [I]triangle [/I]in the wave [B][b][/B], the EUR/USD pair completed the ascending impulse in the wave [B][c] of E. [/B]As a result, in the nearest future the market may start a new decline. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455001.png[/IMG] As we can see at the H1 chart, the pair formed bearish impulse in the wave [B](i)[/B] and then the correctional wave [B](ii)[/B] in the form of the [I]zigzag[/I]. Consequently, quite soon the market may start falling in the third wave. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455002.png[/IMG] [SIZE=5][B] GBP USD, “Great Britain Pound vs US Dollar”[/B][/SIZE] Probably, the price has finished the [I]double zigzag [/I]in the wave [B](ii)[/B].Earlier, after finishing the correction, the GBP/USD pair formed the bearish impulse in the wave [B](i)[/B]. To confirm a new decline, the market has to form a new descending impulse in the wave [B]i[/B]. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455003.png[/IMG] More detailed structure is shown on the H1 chart. It looks like after finishing the wave [B]y of (ii)[/B], the pair formed the bearish [I]wedge[/I] in the wave [B][1][/B]. It’s highly likely that during the day the market may start falling in the third wave. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455004.png[/IMG] [SIZE=5][B] USD JPY, “US Dollar vs Japanese Yen”[/B][/SIZE] The USD/JPY pair continues forming the [I]diagonal triangl[/I]e in the wave [B]v of (iii)[/B]. In the nearest future, the market is expected to start a new descending movement, which may be followed by another correction, i.e. the wave [B](iv)[/B]. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455005.png[/IMG] At the H1 chart, the pair probably completed the [I]horizontal triangle[/I] in the wave [B][4][/B]. Consequently, later the price may resume falling in the wave [B][5] of v[/B] and break the low of the wave[B] [3][/B] quite soon[B].[/B] [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455006.png[/IMG] [SIZE=5][B] AUD USD, “Australian Dollar vs US Dollar”[/B][/SIZE] The descending [I]wedge[/I] in the wave [B](i)[/B] indicates that the AUD/USD pair may start a new decline. Consequently, after finishing the local correction, the market may form another descending impulse. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455007.png[/IMG] As we can see at the H1 chart, the pair is probably finishing the [I]diagonal triangle[/I] in the wave [B]c of (ii)[/B]. After completing this pattern successfully, the price will start a new descending movement. [IMG]http://www.roboforex.ru/files/forecasts/august2016/26/Image20160826125455008.png[/IMG] [B]RoboForex Analytical Department[/B][/B] [/QUOTE]
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