Article By RoboForex.com
Currency pair EUR/USD
It appears that the wave E of (B) has been ended in a shape of double zigzag with triangle in the wave [x]. If we saw that the wave [i] was ended successfully, then, after some correction, we might see market descending within wave [iii].
It is quite possible that on 1 hour chart there is falling wedge is being formed in the wave [i] (within which the second wave was finished yesterday). So that with further evolving of the wave (iii) we might see local minimum breakage.
Currency pair GBP/USD
It appears that we have been done with the wave (i), and that triggered the ascending correction. During the day we might see a continuation of the wave (ii) forming, however, it is quite possible that sooner or later price would move downwards again within the wave (iii).
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More details can be learned from 1 hour chart where recently has been finished the wave v of (i). Since there was bullish impulse formed within the wave a, then we possibly see further upwards movement within the wave c of (ii).
Currency pair USD/JPY
It appears that within the descending diagonal triangle we see new wave forming. So that in a few days there might be further market descending and previous wave (i) minimum breakage.
On 1 hour chart zigzag has been formed within the wave x, and that caused new descending impulse in the wave [A]. So it is possible that after local correction we would see pair moving downwards again within the wave [C] and local minimum breakage.
Currency pair AUD/USD
The drawings that show further extension in the wave (iii) still are valid. Earlier we had seen in the wave (i)new wedge, which has been affected by the wave (ii). Later we can see market descending within the current impulse.
As we can see on 1 hour chart, a new impulse has been almost formed within the wave i, and as a confirmation we can consider the triangle in the wave [4]. Afterward, when the wave [5] of i will be done, there might be a new bullish correction.
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.