Wave patterns on longer term views

EUR/USD

Our mid-term expectations haven’t changed much – it looks like Euro is completing the second part of zigzag (E) of [B], a descending wave C of (E) of [B], which may take the form of an impulse.

We may assume that the price is forming a descending wave C of (E) in the form of an impulse with a predicted target at 1.2759 or lower.

We may assume that a descending wave C is taking the form of an impulse. If this assumption is correct, the pair will continue falling down without breaking the critical level.

GBP/USD

Our mid-term expectations remain the same – it looks like Pound is finishing the second part of zigzag Y of (D), wave [c] of Y of (D), which may take the form of an impulse.

We may assume that the price is forming a descending wave [c] of Y of (D) in the form of an impulse with a predicted target below 1.50.

We may assume that Pound is forming a descending wave [c] of Y. If this assumption is correct, the pair will continue falling down without breaking the critical level.

USD/CHF

We can’t exclude a possibility that Franc completed a possible descending correction [b] of C of (4) in the form of extended flat. This assumption has yet to be confirmed, but if it is correct, then later the price is expected to start a new ascending trend inside wave [c] of C of (4).

We can’t exclude a possibility that Franc started forming an ascending wave [c] of C. However, right now it’s not quite clear which form it will take, an impulse or diagonal triangle.

We can’t exclude a possibility that Franc is forming an ascending wave [c]. This assumption has yet to be confirmed, but we should note that the structure of this wave may be changed.

USD/JPY

After completing a possible ascending wedge (A) of [4], the price is expected to form a descending correction (B) of [4], the form of which isn’t quite clear yet.

We can’t exclude a possibility that a descending correction (B) started with wedge [a] of A of (B) and right now the price is forming an ascending correction [b] of A of (B). If this assumption is correct, then later the price may finish an ascending correction [b] of A of (B) and continue falling down to complete wave A of (B).

We may assume that the pair is forming an ascending zigzag [b] and completing its descending correction (b) of [b]. Later the price is expected to continue moving upwards.