Wave Analysis 18.05.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

EUR USD

It is not improbable that the double zigzag within the wave [a] or [w] has been completed. Therefore, a descending correction can be started soon. Such a correction is confirmed when a bearish impulse within the wave (а) has been formed.

As the analysis on H1 chart shows, the ascending impulse within the wave с of (y) can be deemed completed already. Consequently, in the course of the day we can see a bearish impulse within the wave i of (a).

GBP USD

Admittedly, the extension within the wave [iii] has been completed and a new descending correction is gaining momentum within the wave [iv]. In the coming days we can see the consolidation range to continue, bur afterwards a further rise within the wave [v] of C is possible.

Recently a new local low was formed that lead to redrawing of the wave analysis. There is a strong probability that a diagonal triangle has been formed within the wave (v) of [iii], and this clears the way for the pair to move lower for a short time (а).

USD JPY

A descending correction within the wave (ii) continues. In the near-term the price can still break the local low, but afterwards the bulls can try to resume lifting the pair higher.

It seems that the descending impulse within the wave c of (ii) is coming to an end. On the minor wave level the pair can still go down within the wave [5] of c. Continuation of the rise is confirmed when a bullish impulse within the wave [1] has been formed.

AUD USD

Продолжается формирование нисходящего удлинения в волне [iii], в рамках которой завершается вторая волна. In the near-term, after the correction is over, the pair can resume going down within the wave (iii) of [iii]. Consequently, the price can break through the low of the wave (i) in the short time.

On the H1-chart the zigzag  within the wave (ii) is being completed, and a diagonal triangle is being developed as a part of the wave с. Afterwards we can see a new local high while the wave [5] of c is being formed.