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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on 18.07.2016
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Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on 18.07.2016

18.07.2016
Currency pair EUR/USD

Overview on wave analysis for EUR/USD on July 18, 2016

Supposedly, wave (ii) on Euro-US Dollar was completed as double three that corrected earlier descending impulse in wave (i). So, during the week, the pair descending in the third wave is possible.



Overview on wave analysis for EUR/USD on July 18, 2016

On 1 hour chart, more detailed marking is shown. In the last Friday, we got sharp descending in wave [3] that subsequently resulted in local correction. Further, after completion of the fourth wave, market descending in wave [5] of i will be possible.



Currency pair GBP/USD

Overview on wave analysis for GBP/USD on July 18, 2016

Apparently, in the frameworks of wave 5 diagonal triangle is forming. On the last week, apparently, wave [ii] was completed that open the prospect of resuming of Pound descending in wave [iii] of 5.



Overview on wave analysis for GBP/USD on July 18, 2016

As it shown from marking of 1 hour chart, wave [ii] took the look of double zigzag. Subsequently, on the younger wave level, descending impulse in wave i was formed. And after completion of local correction, the pair descending in the third wave is possible.



Currency pair USD/JPY

Overview on wave analysis for USD/JPY on July 18, 2016

Very weak descending impulse in wave (v) of [v] resulted in rush growth in the frameworks of supposed wave (i). During the nearest week, further acsending of quotations in wave iii is possible that soon may result in new highs.



Overview on wave analysis for USD/JPY on July 18, 2016

It is seen on 1 hour chart that two the first waves with different levels were formed. Supposedly, wave [2] is already completed that soon may result in growth of the pair in the frameworks а wave [3] of iii.



Currency pair AUD/USD

Overview on wave analysis for AUD/USD on July 18, 2016

Apparently, on the last week, wave [ii] was completed taking the look of double zigzag. Currently, descending impulse in wave (i) is forming, successful completion of which confirms marker returning to descending.



Overview on wave analysis for AUD/USD on July 18, 2016

More detailed marking of current price movement is shown on 1 hour chart. In the last Friday, bearish impulse in wave i was completed that turned on the beginning of local correction. In the nearest hours, its completion and the pair descending in wave iii of (i) are possible.

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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.