EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the critical level of the previous scenario, that’s why the main scenario had to be changed. Possibly, the price is forming the skewed triangle in the wave (B). As a result, during the next several weeks the market may continue forming the wave E inside the above-mentioned pattern.
As we can see at the H4 chart, the quick ascending movement made by the pair today may be the fifth wave in the wedge [a]. Consequently, in the nearest future the market may fall in the wave (a) of [b].
GBP USD, “Great Britain Pound vs US Dollar”
In case of the GBP/USD pair, the ascending correction may yet continue. Probably, the price is forming the wave (4), which is taking the form of the zigzag. This week, the market may continue forming the wave C of (4).
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.
USD JPY, “US Dollar vs Japanese Yen”
Probably, the USD/JPY pair completed the double zigzag in the wave 2. To confirm a new growth, the market has to form the ascending impulse in the wave [i].
It’s highly likely that the pair finished the descending impulse [c) and the entire zigzag [y] of 2. During the next several hours, the market may move upwards in the wave (i) of [i].
AUD USD, “Australian Dollar vs US Dollar”
At the daily chart, the AUD/USD pair is still forming the triangle in the wave 4. Consequently, later the price may move downwards and form the impulse in the wave 5 of (3).
After completing the zigzag in the wave [e] of 4, the pair finished the descending impulse in the wave [i] and the correctional wave [ii]. In the future, the market may continue its decline in 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.