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Wave Analysis 24.02.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

EUR USD, “Euro vs US Dollar”

Probably, after finishing the descending impulse in the wave [i] and the correctional wave [ii], the EUR/USD pair started forming the descending extension in the wave [iii]. Consequently, in the nearest future the market may resume moving downwards.

As we can see at the H1 chart, the pair is about to complete the impulse c of the zigzag in the wave (ii). To confirm a new decline, the market may form the descending impulse in the wave i.

 

GBP USD, “Great Britain Pound vs US Dollar”

In case of the GBP/USD pair, the chart structure remains rather complicated. Possibly, the price is forming the horizontal triangle x. Consequently, in the nearest future the market may resume falling in the wave y of (b) or (x).

More detailed structure is shown on the H1 chart. Probably, the pair formed the horizontal triangle in the wave [X]. Later, after finishing the zigzag in the wave [Y], the market may resume falling in the wave [A].

 

USD JPY, “US Dollar vs Japanese Yen”

After finishing the wave 2 and the bullish impulse in the wave [i], the USD/JPY pair started forming the wave [ii]. As a result, later the market may resume moving upwards to reach the local high.

At the H1 chart, the pair is about to complete the descending impulse in the wave (c) of [ii]. On Friday, the market may yet move downwards, but later the price is expected to resume growing in the wave (i) of [iii].

 

AUD USD, “Australian Dollar vs US Dollar”

In case of the AUD/USD pair, the main scenario still implies that the price finished the zigzag in the wave [ii]. Consequently, in the nearest future the market may resume falling and form the descending impulse in the wave (a) of [iii].

As we can see at the H1 chart, the pair is finishing the fifth wave in the diagonal triangle (c). If later the price forms the impulse in the wave i, the market will resume moving downwards.

 

RoboForex Analytical Department

 



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