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, in the nearest future the market may resume falling in the wave [iii] of 3.
More detailed structure is shown on the H1 chart. It looks like after completing the wave [ii] in the form of the zigzag, the pair formed the descending wedge in the wave (i). on Tuesday, the market may start forming the bearish impulse in the wave (iii) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is testing the horizontal triangle’s upside border and finishing the wave e of this pattern. In the nearest future, the market may start forming the wave i of (v).
As we can see at the H1 chart, the pair is completing the fifth wave of the diagonal triangle in the wave [C]. if the price rebounds from the pattern’s upside border, the market may start a new decline in the wave .
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]. Consequently, after finishing the local correction, the market may resume moving downwards and break the previous low.
At the H1 chart, the pair is probably forming the wave iv in the form of the zigzag. Yesterday, the price completed the wave iii. It’s highly likely that in the nearest future the correction may continue.
AUD USD, “Australian Dollar vs US Dollar”
It’s highly likely that after completing the bearish impulse in the wave [i] earlier, yesterday the AUD/USD pair finished the correctional wave [ii]. As a result, during the next several days the market may start a new decline.
As we can see at the H1 chart, yesterday the pair completed the wave (c) in the zigzag [ii]. Later, after completing the wave (i), the market may start a new local correction.
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.