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Wave Analysis 20.04.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

20.04.2017

EUR USD, “Euro vs US Dollar”

Probably, the EUR/UDS pair completed forming the wave [ii]. Earlier, the price finished the bearish impulse in the wave [i], As a result, in the nearest future the market may resume falling in the wave [iii].

As we can see at the H1 chart, the pair probably completed the zigzag (y) in the double zigzag [ii]. Consequently, on Thursday the market may move downwards in the wave (i) of [iii].

 

GBP USD, “Great Britain Pound vs US Dollar”

It looks like the GBP/USD pair is forming the ascending impulse in the wave C of (4). Earlier, the price competed the zigzag in the wave B. In the nearest future, the market may continue growing in the wave [iii] of C.

At the H1 chart, the pair finished the zigzag (iv) in the wave [iii]. Consequently, on Thursday the price may resume growing and form the impulse in the wave (v) of [iii].

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still forming the bearish impulse in the wave [c) of [y]. After finishing the local correction, the market may resume moving downwards and break the previous low.

As we can see at the H1 chart, the wave iv is taking the form of the horizontal triangle. If later the price rebounds from the pattern’s upside border, the market may resume falling while forming the wave v of (c).

 

AUD USD, “Australian Dollar vs US Dollar”

Probably, after completing the zigzag in the wave [e] of 4, the AUD/USD pair finished the descending impulse in the wave [i] and the correctional wave [ii]. During the next several days, the market may continue its decline.

More detailed structure is shown on the H1 chart. It looks like the wave [ii] took the form of the zigzag and right now the price is finishing the second wave in the extended wave (iii) of [iii]. Consequently, in the nearest future the market may start falling in the wave iii 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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