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Wave Analysis 09.05.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

09.05.2017

EUR USD, “Euro vs US Dollar”

Possibly, the EUR/USD pair completed the double zigzag in the wave [a] of [w]. As a result, in the nearest future the market may form the descending impulse in the wave (a).

As we can see at the H1 chart, the pair completed the wave c in the form of the diagonal triangle and right now is forming the bearish impulse in the wave i. In the future, the local correction may take place, which may later be followed by a new decline.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still extending the wave [iii]. Consequently, in the future the market may reach a new local high and then start a new descending correction in the wave [iv] of C.

It’s highly likely that the pair is finishing the fourth wave in the diagonal triangle (v). Consequently, on Tuesday the price may continue growing in the wave v or (v).

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still forming the wave (i). As a result, during the next several hours the market may reach new highs. However, later the price is expected to start a new descending correction in the wave (ii).

More detailed structure is shown on the H1 chart. The pair is forming the ascending impulse in the wave [5] of iii. On a shorter timeframe, the local correction may take place, which may later be followed by another impulse in the wave (5) of [5].

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair finished the wave [ii] in the form of the flat and right now is probably forming the descending extension in the wave [iii]. In the nearest future, the market may continue falling in the wave (iii) of [iii].

As we can see at the H1 chart, yesterday, after finishing the impulse in the wave (i) of [iii], the pair completed the wave i of (iii). During the next several hours, the market may continue forming the descending 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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