Forex Quebec

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GBP/JPY is developing corrective wave B of medium term uptrend from 127.04 (royal blue in the chart). Within this wave we have three subwaves (magenta in the chart), and potential impulse subwave C is developing from 130.71. Within it there are three subwaves (red in the chart), and potential impulse subwave C is developing from 130.39.

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave there are three subwaves (red in the chart), and impulse subwave C is developing from 1.0354. Within the latter we have subwaves of a still smaller degree (yellow in the chart), and impulse subwave 5 is still developing from 1.0278.

AUD/USD is developing potential corrective wave B (light green in the chart) of medium term uptrend. Within this wave there are three subwaves (red in the chart), and impulse subwave C is developing from 1.0354.

GBP/JPY is developing corrective wave B of medium term uptrend from 127.04 (royal blue in the chart). Within this wave we have two subwaves (magenta in the chart), and potential corrective subwave B is developing from 129.02. Within it there are two subwaves (red in the chart), and subwave B is developing from 130.71.

Yesterday the AUD/USD pair was trading in a downward move. During the European session we could observe a descending movement towards the 1.0320 level. Therefore during the early New York session the price continued trading in a bearish mood and reached the 1.0283 level.

Yesterday the USD/CAD pair was trading upwards near the end of 4 wave. During the European session we observed ascending movement towards the 0.9890 level. Therefore, during the New York session we saw the continuation of the bullish mood and the price reached 5-day high at the 0.9903 level.

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Wave marking analysis: Due to the yesterday’s weak trades the EUR/USD pair has failed to define its further movement. As a result the pair remained within the range of 1.3200 – 1.3260 for the whole day.

Yesterday the AUD/USD pair has started developing corrective wave 2 (coloured pink). During the European session we could observe the descending movement towards 1.0425 level (50 EMA Support).