EUR USD, “Euro vs US Dollar”
Last week Eurodollar completed the descending impulse in the wave 3 or C. In the nearest future, the pair may continue forming the wave [c] of the current correction. Later, after finishing it, the price may try to resume its growth.
At the H1 chart, after finishing the diagonal triangle in the wave [v], the pair has rebounded from its lower border and started the correction. It looks like yesterday the market completed the wave [b] in the form of the double zigzag. Later, the price may form the ascending impulse in the wave [c].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the descending diagonal triangle, Pound started the correction. Later, the price formed the ascending impulse in the wave (a). Later, after completing the local correction, the pair may resume its growth in the wave (c).
As we can see at the H1 chart, Pound has formed the zigzag in the wave (v), the bullish impulse in the wave(a), and then the wave (b). It’s highly likely that in the nearest future the pair may grow in the wave (c) of [ii]
USD JPY, “US Dollar vs Japanese Yen”
Probably, the market is still forming the wave (v). It’s highly likely that the price has formed the horizontal triangle in the wave (iv). In the future, the pair may start another ascending movement and break its local high.
More detailed structure is shown on the H1 chart. It looks like the price is about to finish the wave e in the(iv). On Wednesday, the market may rebound from the triangle’s lower border and start moving upwards in the wave i of (v).
AUD USD, “Australian Dollar vs US Dollar”
It's highly likely that Australian Dollar has finished the correctional wave 4. On the minor wave level, the pair has formed the double zigzag in the wave [y] and the impulse in the wave (i). After completing the local correction, the price may start falling in the wave (iii).
As we can see at the H1 chart, the market has formed the zigzag in the wave (y) and started a new descending impulse. On Wednesday, the pair may be corrected for a while and then continue falling.
RoboForex Analytical Department