The marking which implies further descending wave [i]
is still in force. In all appearances, a triangular
was formed earlier in the wave (В)
. As such, in the coming days we can see the pair moving even lower.
The 1-H marking has been updated. Admittedly, a horizontal triangular
is being formed in the wave (iv)
. When this pattern is completed, it is possible that the market will descend further within the wave (v) of [i]
Most probably that the wave [ii]
is being completed, and the wave now looks like a double triple
. In all appearances, on the lower wave level the wave (y)
is being completed, and it is a zigzag
. Therefore, in the short-term period the market can resume descending.
Apparently, an ascending impulse in the wave If a bearish impulse wave is formed, this will confirm further decline of the market.
The marking which implies a further forming of a diagonal triangular
in the wave [v] of C
is still in force.Admittedly, the wave (ii)
has been completed, and this gives the pair a chance to descend within the third wave.
As we can see on the 1-H marking, the zigzag
in the wave y of (ii)
has been completed, and a descending impulse in the wave (1)
has been formed. When the local correction is over, we can see the pair descending lower within the wave (3)
Admittedly, Aussie forms a wedge
in the wave (i)
.The pattern will be completed in the near term, and this would give space for a local correction.Most probably, the wave (ii)
will be a long-lived and a complex one.
Probably, on the 1-H chart the 4th wave has been completed within the forming wedge
. As such, in the near-term we can see the pair descending in the wave v of (i)
, and if this happens, a bearish impulse will be formed as a confirmation.