4:43 PM
Wave Analysis (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
“Euro vs US Dollar”
Most likely, Euro has finished impulse inside wave (i) of [v] of 3 and a short-term correction inside wave (ii) of [v] of 3. Taking into account the strength of the current descending movement, the depth of an ascendingzigzag may be quite low.
Probably, right now the pair is forming a correction inside wave (ii) of [v] of 3. In the nearest future, the market is expected to complete this local correction and continue falling.
“Great Britain Pound vs US Dollar”
The price continues forming an impulse inside wave (iii) of [iii] of 3 with several extensions inside it. Most likely, after finishing a horizontal correction inside this wave, the market may continue moving downwards.
Most likely, the pair hasn’t finished wave iv of (iii) of [iii] yet, and in the nearest future, the market may continue moving sideways. After completing wave iv of (iii) of [iii], the pair may resume falling.
“US Dollar vs Japanese Yen”
The current chart structure is quite complicated and offers several possible scenarios. Most likely, after finishing leading diagonal triangle inside wave [i] of 3 of (5), the pair has started a correction inside wave [ii] of 3 of (5). In the nearest future, the market may continue growing.
The pair hasn’t completed the correction inside wave [ii] of 3 of (5) and in the future may continue falling. After finishing zigzag inside wave [ii] of 3 of (5), the pair may resume moving upwards.
“US Dollar vs Canadian Dollar”
The situation hasn’t changed much over the last 24 hours. After finishing waves (1) of [5] of iii and (2) of [5] of iii, the price is in no hurry to move fast. Most likely, in the nearest future, the market will continue growing inside wave (3) of [5] of iii.
We can’t say for sure that the price has already completed wave (2) of [5] of iii, because it isn’t making any ascending movements. In the nearest future, the pair is expected to resume growing inside wave (3) of [5] of iii. However, this assumption will be confirmed only after the price is able to stay above the confirming level (crimson line on the chart).
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
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