Forecast for December 1st, 2016
EUR USD, “Euro vs US Dollar”
After finishing the descending impulse in the wave 1
, the EUR/USD pair started a new ascending correction. Later, after completing the wave 2
, the price may start falling in the descending wave [i]
As we can see at the H1 chart, yesterday the pair completed the wave [x]
of the wave 2
, which is taking the form of the double zigzag
. Consequently, in the nearest future the market may start growing in the wave [y] of 2
GBP USD, “Great Britain Pound vs US Dollar”
In case of the GBP/USD pair, the price is completing the wave (c)
of the horizontal triangle [iv]
. As a result, in the nearest future the market may continue falling in the wave (d)
inside the pattern.
As we can see at the H1 chart, the pair is probably completing the zigzag y
in the double zigzag (c)
. In the nearest future, the market may resume falling in the wave (d)
towards the triangle
’s downside border.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair reached a new high while forming the ascending wave c of (y)
. in the nearest future the market may continue growing, nut late the price is expected to reverse and start falling in the bearish impulse in the wave i or a
More detailed structure is shown on the H1 chart. It’s highly likely that the price may continue forming the wave  of c
. As a result, the price may break the local high while forming the wave (3)
AUD USD, “Australian Dollar vs US Dollar”
After finishing the descending impulse in the wave (i)
, the AUD/USD pair started another correction. Consequently, in the nearest future the market may form the wave (ii)
, which may later be followed by a new decline.
As we can see at the H1 chart, the pair finished the ascending wedge
in the wave a
. On Thursday, the price may form a new local correction and reach a new local low. Later, the market may start growing in the wave c of (ii)
RoboForex Analytical Department
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