7:05 PM
EUR/USD, GBP/USD, USD/JPY and AUD/USD
EUR/USD currency pair
The euro dollar continues the formation of wave 4, and takes the form of a zigzag. Previously it formed a downward momentum in the wave 3 or C. In the short term, perhaps there will be the resumption of a local reduction in the wave [b] of 4.
More accurate markings are shown on the hourly chart. It is likely that the wave [b] is taking form of a zigzag, which includes the start of a decline in wave (c). Subsequently, a further downward movement and the breakdown of the minimum of wave (a) are possible.
The euro dollar continues the formation of wave 4, and takes the form of a zigzag. Previously it formed a downward momentum in the wave 3 or C. In the short term, perhaps there will be the resumption of a local reduction in the wave [b] of 4.
More accurate markings are shown on the hourly chart. It is likely that the wave [b] is taking form of a zigzag, which includes the start of a decline in wave (c). Subsequently, a further downward movement and the breakdown of the minimum of wave (a) are possible.
GBP/USD currency pair
After the alleged end 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 resumption of the downtrend is possible.
As you can see from the hour chart a downward momentum in the wave (i) is formed. Presumably, the plane in the wave (ii) is finishing. During the day, perhaps the diagonal triangle in wave c of (ii) will conclude.
After the alleged end 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 resumption of the downtrend is possible.
As you can see from the hour chart a downward momentum in the wave (i) is formed. Presumably, the plane in the wave (ii) is finishing. During the day, perhaps the diagonal triangle in wave c of (ii) will conclude.USD/JPY currency pair
Most likely, a decline of the Japanese yen is resuming. Previously a zigzag in wave X was completed, after which the price has formed a bearish impulse in wave (i), and adjusted 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 plane. At a junior wave level, a bearish wedge in wave (i) probably formed. In the short term, a decrease in quotations in the wave iii of (iii) is possible.
AUD/USD currency pair
Most likely, a decline of the Japanese yen is resuming. Previously a zigzag in wave X was completed, after which the price has formed a bearish impulse in wave (i), and adjusted 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 plane. At a junior wave level, a bearish wedge in wave (i) probably formed. In the short term, a decrease in quotations in the wave iii of (iii) is possible.
AUD/USD currency pair
With the AUD the wave formation [ii] is coming to an end. Accordingly, soon there will likely be a resumption in the reduction of quotations in the third wave. Earlier, after a double three in the wave 4, a bearish wedge in wave [i] was formed.
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