A downward movement within wave [iii] of 1 of (C) continues to grow, and takes a stretched look. In the near future, price decline will continue.
In the coming hours, we will probably get the completed impulse i of (iii) of [iii] as part of a larger downward movement, after which a short-term upward correction within wave ii of (iii) of [iii] is expected.
The GBP/USD pair
After completion of the wave (ii) of [iii] of 1 begins the development of a large downward movement which will continue in the near future.
The wave i of (iii) of [iii] is nearing its completion within the large downward momentum, and after a short-term upward correction within wave ii of (iii) of [iii] price decline will continue.
The USD/JPY pair
The momentum in the wave [i] of 3 of (5) is finished, and currently there is a development of a correction in the wave [ii] of 3 of (5), which can be very shallow, given the sharpness and size of the wave [i] of 3 of (5).
Currently a downward zigzag within wave [ii] of 3 of (5) is presumably developing after which a continued growth in the wave [iii] of 3 of (5) is expected and the establishment of new local maxima of the pair.
The USD/CAD pair
The price is gradually moving up in the wave v of (iii) of [v]. In the near future a further increase in prices is expected.
At this stage, it is fairly difficult to clearly identify the wave structure of the first pulse in the wave v of (iii) of [v]. However, a further growth of the price and the establishment of new local maxima of the pair are expected.
RoboForex Analytical Department
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