Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Probably, the correction is transforming into the form of the horizontal triangle with the wave [c] completed inside it. In the nearest future, the pair may fall down a little in the wave [d] of the above-mentionedtriangle pattern.
More detailed structure is shown on the H1 chart. It looks like the wave [c] has taken the form of the zigzagwith the impulse (c) of [c] inside it. After completing the local correction, the market may move downwards in the wave (c) of [d].
Pound is still forming the bearish impulse in the wave [iii]. In the future, after completing the local correction, the market may continue falling and reach several new lows.
More detailed structure is shown on the H1 chart. After finishing the wave (iv), Pound has formed the bearish impulse i. Later, the market is expected to fall inside the current bearish tendency.
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Yen is still forming the descending zigzag in the wave C. Earlier, the pair completed the wave B. During this week, the price may resume falling in the wave [c] of C 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.
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
Article By RoboForex.com
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