EUR USD, “Euro vs US Dollar”
Possibly, the EUR/USD pair completed the wave 2 in the form of the zigzag. Earlier, the price had finished the bearish wedge in the wave 1. If later the market forms the descending impulse in the wave [i], the pair may resume its decline.
More detailed structure is shown on the H1 chart. Probably, yesterday the pair formed the ascending impulse in the wave (v) of [c] and then the short bearish one in the wave (i). It’s highly likely that in the nearest future the market may continue falling in the wave (iii) of [i].
GBP USD, “Great Britain Pound vs US Dollar”
It looks like, after finishing the extended wave [iii], the GBP/USD pair formed the ascending zigzag, which may be the wave (a) or (w). As a result, during the next several days the price may form another zigzag, (b) or (x), of the wave [iv].
As we can see at the H1 chart, the pair is forming the descending impulse in the wave a. It’s highly likely that on Friday the price may continue moving downwards. Later, the market is expected to start a new local correction, this time in the wave b.
USD JPY, “US Dollar vs Japanese Yen”
It looks like the USD/JPY pair is forming the wave [c] of 2 in the form of the diagonal triangle. In the nearest future, the market may continue falling inside the above-mentioned triangle and test its downside border. If later the price rebounds from the border, it may start forming the wave [i].
As we can see at the H1 chart, the pair is still forming the fourth wave of the diagonal triangle in the wave [c] of 2. In the nearest future, the market may break the local high and then start falling in the wave (v) of [c].
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the price is about to finish the ascending impulse (c) of the ascending zigzag [ii]. Possibly, in the nearest future the market may start falling in the wave [iii] of the diagonal triangle in the wave 5.
More detailed structure is shown on the H1 chart. Probably, the pair finished the horizontal triangle in the wave (b). In the nearest future, after finishing the wave iv, the market may start the final ascending movement to form the wave v and complete the entire wave (c) of [ii].
RoboForex Analytical Department