Wave Analysis 30.05.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair completed the double zigzag in the wave [a] of [w]. Consequently, in the nearest future the market may continue moving downwards in the wave (a) and, as a result, break local lows.
At the H1 chart, after completing the descending impulse in the wave i and the correctional wave ii, the pair finished the descending impulse in the wave [1] of iii. As a result, after finishing the current correction, the market may fall in the wave [3] of iii.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still forming the correctional wave [iv]. Earlier, the price completed the bullish extension in the wave [iii]. After finishing the current correction, the market may form another bullish impulse in the wave [v] of C.
More detailed structure is shown on the H1 chart. The pair completed the wave (v) of [iii] in the form of the diagonal triangle and, as a result, started falling. It’s highly likely that on a shorter timeframe the price finished the wave iv. Consequently, on Tuesday the price is expected to resume falling in the bearish wave v of (a).
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still forming the wave (ii) in the form of the double zigzag. Earlier, the price completed the ascending impulse in the wave (i). Consequently, in the nearest future the market may resume growing in the wave (iii).
As we can see at the H1 chart, the price finished the wave [A] of y and started a new local correction in the wave [B]. later, the market may form another descending impulse in the wave [C] of y of (ii).
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still forming the descending extension in the wave [iii]. On a shorter timeframe, the price probably completed the wave (ii). In the nearest future, the market may resume falling in the wave (iii) of [iii] and, as a result, break the low of the wave (i).
As we can see at the H1 chart, the market completed the descending wedge in the wave i. In the nearest future, the market may start a new local correction in the wave ii, which may later be followed by another decline iii of (iii).
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