Formation of the descending impulse in wave [i] for the euro dollar continues. At the minor wave level, a decline in the fifth wave is beginning. In the short term, the minimum in wave (iii) of [i] may update.
On the hourly chart, after the end of the extension in wave (iii) an upward zigzag in wave (iv) has been formed. It is very likely that during Friday, the decline in prices will resume and we will see the formation of an impulse in wave (v) of [i].
GBP/USD currency pair
The pound continues to decline, breaking the minimum in wave [iii]. Apparently, a downward extension is developing in wave (iii). At the minor wave level, the end of wave iv is possible and the resumption of decline in wave v of (iii).
On the hourly chart as part of wave (iii) the fourth wave is about to end. During the day, the breakdown of the minimum is possible in the course of the decrease in the pair in the wave v of (iii). Subsequently an upward correction is likely to develop.
USD/JPY currency pair
Presumably, formation of the wave Yf (4) has finished, taking the form of a zigzag. Subsequently, the bullish momentum in the wave (i) was formed, corrected by wave (ii). It is very likely that it will soon be followed by continued growth in the wave (iii).
It is likely that on the hourly chart wave (ii) is completed in the form of a zigzag. At the minor wave level, an upward momentum in wave i was formed, then the correction started. In the short term, the resumption of growth is possible.
AUD/USD currency pair
Formation of wave [ii] is completed, most likely in the form of a Double Zigzag. In the short term, the price will likely resume the downward movement within wave [iii] as part of a diagonal triangle within wave 5 at the major wave level.
After the end of the zigzag in wave (y) a bearish impulse in wave i was formed. During the day, the end of the local correction is possible, after which the market is likely to go into a new round of decline in wave iii and update the local minimum.
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