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Wave Analysis 17.04.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

17.04.2017

EUR USD, “Euro vs US Dollar”

Probably, after finishing the descending impulse in the wave [i], the EUR/UDS pair completed the correctional wave [ii]. As a result, during the next several days the market may resume falling in the third wave.

As we can see at the H1 chart, the pair finished the wave [ii] in the zigzag and then formed the bearish wedge in the wave (i). Consequently, in the nearest future the market may resume moving downwards in the wave (iii) of [iii].

 

GBP USD, “Great Britain Pound vs US Dollar”

It’s highly likely that the GBP/USD pair finished the triangle in the wave (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. After completing the zigzag in the wave e of (iv), the pair finished the descending impulse in the wave [1]. As a result, on Monday the price may start a new decline in the wave [3] of i.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still forming the bearish impulse in the wave [c) of [y]. Earlier, the price completed the double zigzag in the wave [x]. In the nearest future, the market may continue moving downwards.

More detailed structure is shown on the H1 chart. It looks like the pair is about to finish the third wave in the wave iii. Later, the price may start a new local correction in the wave iv.

 

AUD USD, “Australian Dollar vs US Dollar”

After completing the impulse in the wave [i], the AUD/USD pair started forming the wave [ii]. In the nearest future, the ascending correction may continue. To confirm a new decline, the market has to complete the wave [ii] and form the bearish impulse.

At the H1 chart, the wave [ii] is probably taking the form of the zigzag. On Monday, the price may finish the ascending wave (c), which may later be followed by a new decline in the wave (i) of [iii].

 

RoboForex Analytical Department

 

Attention!

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.



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