EUR USD, “Euro vs US Dollar”
Probably, the EUR/USD pair completed the wave 2 in the form of the zigzag. On a shorter timeframe, the price if forming the descending impulse in the wave [i]. To confirm a new decline, the market has to complete the above-mentioned wave.
More detailed structure is shown on the H1 chart. It looks like the pair formed the descending impulse in the wave (i) and the correctional wave (ii) in the form if the flat. As a result, in the nearest future the market may continue falling in the wave (iii).
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that after finishing the wave [iii], the GBP/USD pair started a new correction and formed the ascending zigzag in the wave (a) or (w). As a result, during the next several days the price may form another zigzag, this time in the wave (b) or (x).
As we can see at the H1 chart, the pair probably formed the descending impulse in the wave a. Consequently, in the nearest future the market may be corrected. Later, after finishing the wave b, the price may start falling in the wave c of (b) or (x).
USD JPY, “US Dollar vs Japanese Yen”
It looks like the USD/JPY pair is forming the wave [c] of 2 in the form of the diagonal triangle. In the nearest future, the market may continue moving inside the above-mentioned pattern and test its downside border. If later the price rebounds from the border, it may start forming the wave [i].
It’s highly likely that the pair completed the triangle in the wave (iv), which means that it may start a short-term decline in the wave (v) of [c]. If later the market rebounds from the downside border of the diagonal triangle from the H4 chart, bulls may try to reverse the price to the upside.
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the price is about to finish the ascending impulse (c) of the ascending zigzag [ii]. Possibly, in the nearest future the market may start falling in the wave [iii] of the diagonal triangle in the wave 5.
As we can see at the H1 chart, the pair probably finished the bullish impulse in the wave (c). If later the price forms the descending impulse in the wave (i), the market may start a new decline.
RoboForex Analytical Department