EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still forming the ascending wave [a] or [w]. On a shorter timeframe, right now the price is forming the diagonal triangle in the wave  of c. In the nearest future, the market may break the local high and then start the descending wave (a).
At the H1 chart, the pair may finish the fourth wave in the diagonal triangle. As a result, in the nearest future the market may resume growing in the wave (5) of .
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating in the correctional wave [iv]. Earlier, the price completed the bullish extension in the wave [iii]. In the future, the market may break the local high, but later it is expected to form another bullish impulse in the wave [v] of C.
As we can see at the H1 chart, the pair completed the descending impulse in the wave (a) and started the ascending correction in the wave (b) of [iv]. In the nearest future, the market may finish the wave c of (b) and then resume moving downwards.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still forming the wave (ii) in the form of the double zigzag. Earlier, the price completed the ascending impulse in the wave (i). Possibly, in the nearest future the market may resume growing in the wave (iii).
At the H1 chart, the price finished the wave [A] of y and then formed the wave [B] in the form of the flat. Later, the market may form another descending impulse in the wave [C] of y of (ii).
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair may yet continue forming the wave (y) in the double zigzag[ii]. To confirm a new decline, the price has to form the bearish impulse in the wave [iii].
More detailed structure is shown on the H1 chart. The market completed the zigzag in the wave (x) and started growing in the wave a. In the future, the price may be corrected, but later it is expected to form another bullish impulse in the wave c of (y) of [ii].
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.