Wave Analysis 10.04.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
After completing the wave 2 in the form of the double zigzag, the EUR/UDS pair finished the descending impulse in the wave [i]. It looks like right now the price is about to complete the wave (i) in the extended descending wave [iii]. Later, after completing the wave (ii), the market may continue falling in the wave (iii) of [iii].
More detailed structure is shown on the M30 chart. Last week, the pair finished the flat in the wave [ii]. In the nearest future, after completing the local correction, the market is expected to move downwards in the wave v of (i).
GBP USD, “Great Britain Pound vs US Dollar”
After completing the horizontal triangle in the wave (iv), the GBP/USD pair formed the descending impulse in the wave i. During the next several days, the market may continue moving downwards in the wave iii of (v).
As we can see at the H1 chart, after completing the wave [2] in the form of the zigzag, the pair started falling in the wave [3] of iii. On Monday, the market is expected to continue falling and reach several new lows.
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that after completing the descending impulse in the wave (a), the USD/JPY started forming the wave (b). Later, the market may resume moving downwards and form the bearish impulse in the wave (c) of [y].
At the H1 chart, the pair is forming the flat in the wave (b). Consequently, after completing the zigzag in the wave b, the price started the bullish impulse in the wave c of (b). As a result, during the day the market may form the ascending wave [5] 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.
As we can see at the H1 chart, the pair is about to finish the third wave in the extended wave (iii). Later, after completing the correction, the price is expected to form the bearish impulse in the wave v of (iii).
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.