Wave Analysis 20.02.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

EUR USD, “Euro vs US Dollar”

In case of the ERU/USD pair, the price is still forming the wave [ii]. Earlier, the pair completed the descending impulse in the wave [i]. As a result, in the nearest future the market may reach a new local high and then resume falling in the wave [iii].

As we can see at the H1 chart, the price is probably forming the zigzag in the wave (b). It’s highly likely that during the day the pair may fall in the wave c of (b) and then start a new growth in the wave (c) of [ii].

GBP USD, “Great Britain Pound vs US Dollar”

It looks like the GBP/USD pair is still forming the wave (b) of (x) in the form of the double zigzag. In the nearest future, the market may continue falling in the wave y and reach new local lows.

More detailed structure is shown on the H1 chart. The price completed the wave x in the form of the horizontal triangle. It’s highly likely that the pair may start a short-term in the wave [C] of the zigzag in the wave y.

USD JPY, “US Dollar vs Japanese Yen”

It’s highly likely that after finishing the bullish impulse in the wave [i], the USD/JPY pair is about to complete the wave [ii]. As a result, in the nearest future the market may resume moving upwards in the wave [iii] and break local highs.

As we can see at the H1 chart, the pair is probably completing the impulse (c) of the flat[ii]. To confirm a new ascending movement, the market has to form the ascending impulse in the wave (i).

AUD USD, “Australian Dollar vs US Dollar”

It looks like the AUD/USD pair completed the zigzag[ii] of the diagonal triangle. In the nearest future, the market may fall in the wave (a).

As we can see at the H1 chart, the wave v of (c) probably took the form of the expanded diagonal triangle. To confirm a new decline in the wave [iii], the pair has to form the descending impulse in the wave i.

RoboForex Analytical Department