Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on 20.07.2016
20.07.2016
Currency pair EUR/USD
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.
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
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].
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
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.
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
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.
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).
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.
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
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].
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
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.
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
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.
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).
Attention!
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.