EUR USD, “Euro vs US Dollar”
Probably, after finishing the descending impulse in the wave [i], the EUR/UDS pair completed the wave [ii]. As a result, in the nearest future the market may resume falling and form the bearish impulse in the wave [iii].
As we can see at the H1 chart, the pair finished the wave [ii] in the zigzag and then formed the descending impulse in the wave (i). Consequently, after completing the local correction, the market may resume moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Possibly, the GBP/USD pair finished the triangle (iv). To confirm a new decline, the market has to form the descending impulse in the wave i.
More detailed structure is shown on the H1 chart. Yesterday, the pair finished the descending impulse in the wave . Later, after completing the wave , the price may start a new decline in the third wave.
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that the USD/JPY pair is still forming the wave [y] of 2. Earlier, the price completed the descending impulse in the wave (a). Later, the market may continue moving downwards and form the bearish impulse in the wave (c) of [y].
At the H1 chart, the pair is about to finish the fifth wave in the wave iii of (c). On Friday, the price may break the local low and then start the correctional wave iv.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair started a fast correction. Probably, after completing the impulse in the wave [i], the price started forming the wave [ii]. in the nearest future the ascending correction may continue.
As we can see at the H1 chart, the pair finished the bullish impulse in the wave (a). in the nearest future, the local descending correction may take place, which may later be followed by a new growth in the wave (c) of [ii].
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.