EUR USD, “Euro vs US Dollar”
Probably, the EUR/USD pair is still forming the ascending impulse [c] of the zigzag in the wave 2. On Thursday, the market may continue moving upwards. If later the price forms the descending impulse in the wave [i], the pair may resume its decline.
More detailed structure is shown on the H1 chart. It looks like the wave [b] took the form of the flat, which was later followed by the ascending impulse in the wave (i) along with the correctional wave (ii). Consequently, in the nearest future the market may grow in the wave (iii) of [c].
GBP USD, “Great Britain Pound vs US Dollar”
Yesterday the GBP/USD pair broke the local high and continued forming the wave (a) or (w), which may take the form of the double zigzag. Later, the market is expected to continue growing in the wave y, which may be followed by a long consolidation in the wave (b) or (x).
As we can see at the H1 chart, the pair started forming the wave [B] of the ascending zigzag in the wave y. As a result, after completing the local correction, the price may form another ascending impulse, this time in the wave [C] of y.
USD JPY, “US Dollar vs Japanese Yen”
Possibly, the USD/JPY pair is forming the wave [c] of 2 in the form of the diagonal triangle. Earlier, the price formed the bearish wedge in the wave [a]. Consequently, in the nearest future the market may continue falling inside the above-mentioned triangle and test its downside border.
As we can see at the H1 chart, the pair is forming the fourth wave of the diagonal triangle in the wave [c] of 2 and may soon break the local high. However, Later, the market is expected to resume falling in the wave (v) of [c].
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the price is still forming the wave [ii] in the form of the zigzag. On a longer timeframe, the pair is probably forming the diagonal triangle in the wave 5. As a result, after finishing the wave (c) of [ii], the market may resume moving downwards.
More detailed structure is shown on the H1 chart. the pair finished the triangle in the wave (b) and then resumed growing in the wave (c) of [ii]. On Thursday, the price may complete the wave iii and start a new local correction, which may later be followed by a short-term growth in the wave v of (c).
RoboForex Analytical Department