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Wave analysis for EUR/USD, GBP/USD, USD/JPY and AUD/USD on 22.07.2016

Article By RoboForex.com

Currency pair EUR/USD

Overview on wave analysis for EUR/USD on July 22, 2016

After completion of wave (ii) as a double three, market returned to descending. Apparently, descending third wave is forming. For the short terms, continuation of price reducing is possible that soon may lead breakage of wave (i) low.

Overview on wave analysis for EUR/USD on July 22, 2016

More detailed markiong is shown on 1 hour chart. Supposedly, recently wave ii was completed that corrected descending impulse in wave i. Because on younger wave level wave [2] is about to be completed, then soon recuming of descending is possible.

Currency pair GBP/USD

Overview on wave analysis for GBP/USD on July 22, 2016

Price resumes to reduce within diagonal triangle. Supposedly wave [iii] begin to be formed that on the next week may lead to breakage of low of wave [i] formed before.

Overview on wave analysis for GBP/USD on July 22, 2016

On 1 hour chart, it is seen that literally right now wave [2] was completed within supposed streсhing in waveiii. And for the short terms further pair descending in wave [3] is possible.

Currency pair USD/JPY

Overview on wave analysis for USD/JPY on July 22, 2016

For Japanese Yen, supposedly, formation а ascending impulse in wave (i) was completed. Earlier wave [v] cutin the fifth wave was formed. It is quite likely that for the short term we will see development of local correction.

Overview on wave analysis for USD/JPY on July 22, 2016

On 1 hour chart after completion of diagonal triangle in wave v of (i) descending impulse was formed in wavea. After completion of local correction, resuming of price drop in wave с of (ii) is possible.

Currency pair AUD/USD

Overview on wave analysis for AUD/USD on July 22, 2016

For Australian Dollar, formation of descending impulse in wave (i) is continued after completion of wave [ii] as a double zigzag. It is not excluded that for the short terms price drop will continue further.

Overview on wave analysis for AUD/USD on July 22, 2016

On 1 hour chart within wave (i) the fifth wave is about to be completed. Upon its completion, beginning of local ascending correction will be possible that will be confirmed by formation of bullish impulse.

Article By RoboForex.com

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

 

 

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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