EUR USD, “Euro vs US Dollar”
It looks like last week the EUR/USD pair completed the wave 2 in the form of the zigzag. Earlier, the price had finished the wave 1 in the form of the wedge. As a result, in the nearest future the market may resume falling. To confirm this scenario, the pair has to form the descending impulse in the wave [i].
More detailed structure is shown on the H1 chart. After finishing the wave (v) of [c], the pair completed the descending impulse in the wave (i). It’s highly likely that on Monday the price may resume moving downwards in the wave (iii) and break the local low.
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the extension in the wave [iii] the GBP/USD pair completed the ascending zigzag, which may be the wave (a) or (w). Consequently, during the next several days the market may be corrected to the downside in the wave (b) or (x), which may take the form of the zigzag as well.
As we can see at the M30 chart, last week the pair completed the ascending impulse in the wave c, the bearish impulse in the wave a, and the correctional wave b. Consequently, on Monday the market may move downwards in the wave c of (b) or (x).
USD JPY, “US Dollar vs Japanese Yen”
Probably, the USD/JPY pair completed the wave 2 in the form of the zigzag with the descending wedge [a] inside it. It’s highly likely that in the nearest future the market may form the ascending impulse in the wave [i].
As we can see at the H1 chart, the pair is probably forming the fourth wave in the ascending impulse [i]. As a result, in the nearest future the market may resume growing and form the bullish impulse in the wave (v) of [i].
AUD USD, “Australian Dollar vs US Dollar”
Possibly, the AUD/USD pair completed the descending zigzag [i] in the diagonal triangle 5. Consequently, in the nearest future the market may form another zigzag, this time in the wave [ii].
More detailed structure is shown on the H1 chart. It looks like after finishing the wave (a), the pair completed the descending wedge in the wave a. On Monday, the local correction may yet continue, but later the market is expected to start a short-term decline in the wave c of (b).
RoboForex Analytical Department