Article By RoboForex.com

Currency pair EUR/USD

Apparently, formation of corrected wave (ii) is continuing as double three. In the short terms, completion of wave y is possible that may result in the beginning of the pair descending in the third wave.

On 1 hour chart, more detailed marking of current price movement is shown. Supposedly, double zigzag in wave y of (ii) is about to be finished. Formation of descending impulse will confirm resuming of the pair descending.

Currency pair GBP/USD

For Pound-US Dollar, formation of diagonal triangle is continued, in the frameworks of which the second wave is about to be finished. So, in the short terms resuming of descend in wave [iii] is possible.

It is seen on 1 hour char that wave [ii] takes the look of double zigzag In the short terms, completion of waveс of (с) is possible that will indicate the possibility of the beginning of formation of wave i of (iii).

Currency pair USD/JPY

Formation of wave (i) is continued. Earlier, descending impulse in wave [v] was formed. Then, in the short term further formation of ascending impulse is possible.

On 1 hour chart, after completion of wave ii, ascending impulse in wave [1] was formed. So, upon completion of local correction the beginning of the pair growth in wave [3] of iii is possible.

Currency pair AUD/USD

Form of completed wave [ii] is still quite difficult – maybe is double zigzag. Formation of bearish impulse in wave (i) will confirm the beginning of the pair descending.

On 1 hour chart, continuation of impulse wave с of (y) is still possible. Upon its completion, we will get descending impulse in wave i and market returning to descending and formation of new minimums will be possible.

Article By RoboForex.com

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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.