Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
It looks like after completing the diagonal triangle in the wave [5] of c, the EUR/USD pair finished the wave [a] or [w]. Possibly, the wave (i) is taking the form of the wedge. To confirm a new decline, the market has to complete the above mentioned pattern.
More detailed structure is shown on the H1 chart. It’s highly likely that the pair finished the third wave in the wave (i) and right now is being corrected. Later, the price may form the bearish wave v of (i).
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that after completing the zigzag in the wave (4), the GBP/USD pair started falling in the wave (5). As a result, after finishing the correction, the price may continue moving downwards in the wave [iii] of 3 of (5).
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As we can see at the H1 chart, after completing the diagonal triangle in the wave [c] of 2 several days ago and then the impulse in the wave [i] of 3, yesterday the pair finished the wave [ii] of 3. Later, after finishing the correction, the market may resume moving downwards in the wave (iii).
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that after finishing the ascending impulse in the wave (i), the USD/JPY pair completed the wave (ii) at the end of the last week. Consequently, in the future the market may continue growing in the wave (iii).
At the H1 chart, the price completed the ascending in the wave [1] and then started a new correction. The pair may yet continue forming the wave [2], which may later be followed by a new growth.
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair completed the wave (y) and the entire double zigzag[ii]. To confirm a new decline, the price has to form the bearish impulse in the wave (i) of [iii].
At the H1 chart, the pair finished the impulse in the wave c of (y) and right now is falling in the wave (i), which may continue during the next several days.
RoboForex Analytical Department
Article By RoboForex.com
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