EUR USD, “Euro vs US Dollar”
After completing the wave 2 in the form of the double zigzag and the descending impulse in the wave [i], the EUR/USD pair probably finished the wave [ii]. Consequently, in the nearest future the market may start a new decline and form the bearish impulse in the wave (i) of [iii].
More detailed structure is shown on the M30 chart. Probably, after completing the flat in the wave [ii], the pair formed the descending impulse in the wave i. In the future, the market is expected to continue falling in the wave iii of (i).
GBP USD, “Great Britain Pound vs US Dollar”
It looks like the GBP/USD pair is starting to extend the wave iii of (v). Earlier, the price finished the horizontal triangle in the wave (iv) and the bearish impulse in the wave i. As a result, in the nearest future the market may continue moving downwards.
As we can see at the H1 chart, after completing the wave ii and the bearish impulse in the wave  of iii, the pair probably formed the wave  in the form of the zigzag. Consequently, in the nearest future the market may fall in the wave .
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that the wave (c) of [y] is taking the form of the diagonal triangle. Earlier, the USD/JPY pair finished the bearish impulse in the wave (a) and the correctional wave (b). After completing the wave (c), the market may try to resume moving upwards.
More detailed structure is shown on the H1 chart. Yesterday, the pair finished the third wave inside the diagonal triangle. As a result, after completing the local correction, the market may resume falling in the wave v of (c).
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still falling in the wave (iii). Earlier, after forming the horizontal triangle in the wave 4, the price started moving downwards in the wave (i). During the next several days, the market may continue falling.
At the H1 chart, the pair is forming the third wave in the extended wave (iii). Earlier, the price finished the zigzag in wave (ii) and the descending impulse in the wave i. On Friday, the market is expected to continue moving downwards.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.