EUR USD, “Euro vs US Dollar”
The EUR/UDS pair continues forming the wave [ii]. Earlier, the price finished the descending impulse in the wave [i], As a result, in the nearest future the market may resume falling in the wave [iii] of 3.
At the H1 chart, the pair probably completed the impulse c of (y) in the double zigzag [ii]. To confirm a new decline, the market has to form the bearish impulse in the wave (i) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”
In case of the GBP/USD pair, the correction moved to a longer timeframe. Earlier, the price finished the extension in the wave (3). Probably, right now the market is forming the wave (4), which may take the form of the zigzag.
More detailed structure is shown on the H4 chart. It looks like the pair is forming the ascending impulse in the wave C of (4). In the nearest future, the market may continue growing in the wave [iii] of C.
As we can see at the H1 chart, the pair is about to finish the third wave of the wave [iii]. Consequently, on Wednesday the price may form the wave (iv), which may later be followed by a new ascending movement.
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. In the nearest future, the market may complete the bullish impulse in the wave [C] of iv and resume falling while forming the wave v of (c).
AUD USD, “Australian Dollar vs US Dollar”
Probably, after completing the bearish impulse in the wave [i], the AUD/USD pair finished the correctional wave [ii]. As a result, during the next several days the market may continue its decline.
As we can see at the H1 chart, the pair completed the wave (ii) and then formed two first waves on different timeframes. Later, after finishing the local correction, the market may start the wave iii of (iii).
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.