EUR/USD currency pair
The euro dollar continues the formation of wave
4, which is taking the form of a
zigzag. Previously a downward momentum in the wave
3 of C was formed. During the day, a local reduction in the wave
[b] of 4 may start again.
More details are shown on the hourly chart. Most likely, the wave
[b] is taking the form of a
zigzag, which included the start of a decline in wave
(c). In the short term a further downward movement and the breakdown of the minimum of wave
(a) is possible.
GBP/USD currency pair
After the expected completion of wave
[ii] the pound is trying to resume its decline. It is likely that the wave
(ii) was short-lived, and was completed the day before. Accordingly, a further possible resumption of the downtrend is possible.
As seen from the markup of the hour chart a downward momentum in the wave
(i) is formed. Presumably, the price is formed within the first wave starting
(iii). During the day, the local minimum may be updated.
USD/JPY currency pair
It is likely that the decline of the Japanese yen will resume. Previously the
zigzag in wave
X was completed, after which the price has formed a bearish impulse in wave
(i), which corrected in a plane wave
(ii). In the coming days a further decrease in quotations in the wave
(iii) is possible.
On the hourly chart the wave
(ii), presumably, assumed a flat form. At the junior wave level, probably a bearish wedge in wave
i was formed. In the short term, after the local correction a decrease in quotations in the wave
iii of
(iii) may happen.
AUD/USD currency pair
For the AUD the wave formation
[ii] is coming to an end. Accordingly, soon a reduction in the quotations in the third wave is likely to resume. Earlier, after a
double three in the wave
4 was formed in the wake of the bearish wedge
[i].
As can be seen on the markup of the hour chart, wave
[ii] takes the form of a
zigzag. After the end of the impulse in wave
(c) a resumption of the decline is possible, as evidenced by the formation of a bearish momentum in wave
(i).