EUR USD, “Euro vs US Dollar”
In case of the EUR/UDS pair, the correction moved to a longer timeframe yesterday and the price formed the wave [ii]. Earlier, the pair had formed the descending impulse in the wave [i]. As a result, in the nearest future the market may resume falling.
As we can see at the H1 chart, the pair completed the wave (c) in the zigzag [ii]. To confirm a new decline, the market has to form the bearish impulse in the wave (i).
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is about to finish the wave e in the horizontal triangle (iv). If the price rebounds from the pattern’s upside border, the market may move downwards in the wave i of (v).
More detailed structure is shown on the H1 chart. Probably, the pair is finishing the descending impulse in the wave [C] of e. Consequently, on Thursday the price may break the high of the wave [A].
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that the USD/JPY pair is still forming the wave [y] of 2. Earlier, the price completed the descending impulse in the wave (a). Later, the market may continue moving downwards and form the bearish impulse in the wave (c) of [y].
At the H1 chart, the pair is extending the third wave in the wave (c). On a shorter timeframe, the price may continue forming the wave [4], which may later be followed by a new decline in the wave [5] of iii.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair started a fast correction. Probably, after completing the impulse in the wave [i], the price started forming the wave [ii]. in the nearest future the ascending correction may continue.
As we can see at the H1 chart, the pair is about to finish the bullish impulse in the wave (a). Later, after completing the local correction, the market may resume growing in the wave (c) of [ii].
RoboForex Analytical Department