Wave Analysis 20.06.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
It looks like after completing the diagonal triangle in the wave [5] of c, the EUR/USD pair finished the wave [a] or [w]. In the meantime, to confirm a new decline, the market has to form the bearish impulse in the wave (i).
At the H1 chart, the pair formed the horizontal triangle in the wave [4] and then completed the bearish wave i. After finishing the local correction, the market may resume falling in the wave iii of (i).
GBP USD, “Great Britain Pound vs US Dollar”
It’s highly likely that after completing the zigzag in the wave (4), the GBP/USD pair started falling in the wave (5). As a result, after finishing the correction, the price may continue moving downwards in the wave [iii] of 3 of (5).
More detailed structure is shown on the H1 chart. After completing the diagonal triangle in the wave [c] of 2 several days ago and then the impulse in the wave [i] of 3, yesterday the pair finished the wave [ii] of 3. Later, after finishing the correction, the market may resume moving downwards in the wave (iii).
USD JPY, “US Dollar vs Japanese Yen”
It’s highly likely that after finishing the ascending impulse in the wave (i), the USD/JPY pair completed the wave (ii) at the end of the last week. Consequently, in the future the market may continue growing in the wave (iii).
As we can see at the H1 chart, the price completed the double zigzag in the wave (ii) along with the wave [1], and then started a new correction in the wave [2]. Later, the market may resume moving upwards in the wave [3] and may soon finish the wave (1).
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair is about to complete the wave (y) and the entire double zigzag[ii]. To confirm a new decline, the price has to form the bearish impulse in the wave (i) of [iii].
At the H1 chart, the pair is finishing the impulse in the wave c of (y). In the nearest future, the market may start forming the descending wave (i), which may continue during the next several days.
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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.