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Wave Analysis 17.02.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

EUR USD, “Euro vs US Dollar”

After finishing the bearish impulse in the wave [i], the EUR/USD pair started the correction. It’s highly likely that in the nearest future the market may continue forming the wave [ii], but later the price is expected to resume falling in the wave [iii].

As we can see at the H1 chart, the wave [ii] may take the form of the zigzag. Earlier, the pair completed the descending impulse in the wave [i]. Later, after finishing the wave (b), the market may start a short-term growth in the wave (c) of [ii].

 

GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair completed the wave x in the form of the horizontal triangle. As a result, in the nearest future the market may form the descending zigzag in the wave y of (b) or (x).

More detailed structure is shown on the H1 chart. It looks like the pair is completing the impulse [A] of the wave y. On Friday, the price may be corrected in the wave [B], but later the market is expected to resume falling in the wave [C] of y.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair completed the wave 2 in the form of the zigzag with the diagonal triangle [c] inside it and the formed the ascending impulse in the wave [i]. Consequently, after finishing the wave [ii], the market may resume moving upwards.

As we can see at the H1 chart, the pair is about to complete the descending impulse in the wave (c) of the flat [ii]. To confirm a new growth, the market has to form the bullish impulse in the wave (i).

 

AUD USD, “Australian Dollar vs US Dollar”

Probably, the AUD/USD pair completed the zigzag [ii] with the impulse (c) inside it. On a longer timeframe, the price is forming the diagonal triangle in the wave 5. Consequently, in the nearest future the market may start a new decline in the wave [iii].

More detailed structure is shown on the H1 chart. The wave v of (c) took the form of the diagonal triangle and then the pair formed the descending impulse in the wave [1]. As a result, in the nearest future the market may fall in the wave [3].

 

RoboForex Analytical Department

 



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