The NZD/USD pair is trading within the medium-term range; there are no severe reactions to the outcome of the RBNZ meeting.
The euro/dollar falls against the decision of the Federal Reserve to close the QE3 incentive program.
In our previous review, “Uptrend instead of correction. Wave analysis of XAU/USD for 22.10.2014”, we discussed one of the possible scenarios how the uptrend may continue.
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.
Being influenced by the fundamental background, Euro has started forming another descending structure.
Eurodollar is still moving downwards.
The H4 chart of EUR USD shows a descending tendency, which is indicated by Shooting Star pattern.
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud; they may intersect and form “Dead Cross” (1).