The Eurodollar continues to decline, drawing strength from the latest statistics.
In our previous review, “Inside a large triangle. Wave analysis of GBP/LPY for 17.09.2014”, we discussed one of the possible scenario how the price may complete horizontal triangle [iv] of 5 of (1) and impulse (1).
The USD/JPY pair has slightly corrected after a block statistics for the Japanese economy, but fundamentally it does not change anything.
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are still influenced by “Dead Cross” (1).
After rebounding from the H4 Super Trend, Euro is trying to stay below the 0/8 level.
The H4 chart of EUR USD shows a bearish tendency within the downtrend.
It looks like the DJIA Index has finished a bearish wedge pattern inside wave .
One of the possible scenarios implies that Euro is forming the final descending wave (E) of [B], which may take the form of a large zigzag.
Australian Dollar is forming another ascending impulse.