Wave Analysis 17.02.2017 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

17.02.2017

EUR USD, “Euro vs US Dollar”

After finishing the bearish impulse in the wave [i], the EUR/USD pair started the correction. It’s highly likely that in the nearest future the market may continue forming the wave [ii], but later the price is expected to resume falling in the wave [iii].

As we can see at the H1 chart, the wave [ii] may take the form of the zigzag. Earlier, the pair completed the descending impulse in the wave [i]. Later, after finishing the wave (b), the market may start a short-term growth in the wave (c) of [ii].

 

GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair completed the wave x in the form of the horizontal triangle. As a result, in the nearest future the market may form the descending zigzag in the wave y of (b) or (x).

More detailed structure is shown on the H1 chart. It looks like the pair is completing the impulse [A] of the wave y. On Friday, the price may be corrected in the wave [B], but later the market is expected to resume falling in the wave [C] of y.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair completed the wave 2 in the form of the zigzag with the diagonal triangle[c] inside it and the formed the ascending impulse in the wave [i]. Consequently, after finishing the wave [ii], the market may resume moving upwards.

As we can see at the H1 chart, the pair is about to complete the descending impulse in the wave (c) of the flat[ii]. To confirm a new growth, the market has to form the bullish impulse in the wave (i).

 

AUD USD, “Australian Dollar vs US Dollar”

Probably, the AUD/USD pair completed the zigzag[ii] with the impulse (c) inside it. On a longer timeframe, the price is forming the diagonal triangle in the wave 5. Consequently, in the nearest future the market may start a new decline in the wave [iii].

More detailed structure is shown on the H1 chart. The wave v of (c) took the form of the diagonal triangle and then the pair formed the descending impulse in the wave [1]. As a result, in the nearest future the market may fall in the wave [3].

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.