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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 20.07.2016
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Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on 20.07.2016

20.07.2016
Currency pair EUR/USD

Overview on wave analysis for GBP/USD on July 20, 2016

Euro-US Dollar continue to descend within wave (iii). Earlier we got double three within correction wave (ii). So, for the short term, further quotation drop towards local low is possible.



Overview on wave analysis for GBP/USD on July 20, 2016

As it shown on 1 hour chart, recently formation of wave [5] of i was completed. And for the short term correction is possible, afteк its completion market may descend again.



Currency pair GBP/USD

Overview on wave analysis for GBP/USD on July 20, 2016

Wave marking with formation of diagonal triangle in wave 5 is still in force. Apparently, in the nearest days we will see continuation of pair descending in the third wave and breakage of low of wave [i].



Overview on wave analysis for GBP/USD on July 20, 2016

Supposedly, formation of stretching in wave iii is began, within which local correction - wave [2] is developing. And soon resuming of price reduction in wave [3] of iii is possible.



Currency pair USD/JPY

Overveiw on wave analysis for USD/JPY on July 20, 2016

After completion of wave [v], within which the fifth wave was cut, market returned to growth. Supposedly we see formation of bullish impulse in wave (i) that soon may continue.



Overveiw on wave analysis for USD/JPY on July 20, 2016

Everything is leading to wave iii taking the look of stretching. In that case, on younger wave level further pair ascending in wave [3] is possible. So, formation of new highs is possible soon.



Currency pair AUD/USD

Overview on wave analysis for AUD/USD on July 20, 2016

Apparently, Aus Dollar is descending within impulse wave (i). Earlier double zigzag in wave [ii] was formed. For the short term, continuation of descending in current impulse is possible.



Overview on wave analysis for AUD/USD on July 20, 2016

On 1 hour chart, more detailed marking of currecnt price trend is shown. It is quite likely that within wave (i) formation of fourth wave was began. And after its completion the pair may begin to descend in wave v of (i).

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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.