Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Probably, after finishing the wave 2 in the form of the zigzag, the EUR/USD pair formed the descending impulse in the wave [i]. Consequently, after finishing the local correction, the market may resume falling in the wave [iii].
More detailed structure is shown on the H1 chart. It looks like the pair is forming the ascending zigzag in the wave [ii]. On Thursday, the market may continue its short-term growth in the wave (c) of [ii].
GBP USD, “Great Britain Pound vs US Dollar”
Possibly, after finishing the ascending zigzag, which may be the wave (a) or (w), the GBP/USD pair started forming the wave (b) or (x) in the form of the double zigzag. In the nearest future, the market may complete the wave x and start falling in the wave y.
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As we can see at the H1 chart, the pair is forming the ascending zigzag in the wave x. in the nearest future the market may complete the wave [C] and start forming the descending zigzag in the wave y of (b) or (x).
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that the USD/JPY pair completed the diagonal triangle in the wave [c] of 2, rebounded from the downside border of the pattern, and started forming the wave [i]. To confirm a new growth, the market has to finish the above-mentioned wave.
After rebounding from the downside border of the diagonal triangle, the pair formed the ascending impulse in the wave (i) along with the correctional wave (ii). As a result, in the nearest future the market may form another bullish impulse, this time in the wave (iii) of [i].
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that after finishing the wave [i] in the form of the zigzag, the AUD/USD pair completed the zigzag[ii] of the diagonal triangle in the wave 5. Consequently, in the nearest future the market may resume moving downwards in the wave [iii].
At the M30 chart, the pair is about to complete the flat in the wave (ii). As a result, after finishing the ascending impulse in the wave c, the market may resume falling in the third wave.
RoboForex Analytical Department
Article By RoboForex.com
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