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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave Analysis 10.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
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Wave Analysis 10.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

10.12.2015

Forecast for December 10th, 2015

EUR USD, “Euro vs US Dollar”

Last week Eurodollar completed the descending impulse in the wave 3 or C. In the nearest future, the pair may continue forming the wave [c] of the current correction. Later, after finishing it, the price may try to resume its growth.



At the H1 chart, after finishing the diagonal triangle in the wave [v], the pair has rebounded from its lower border and started the correction. It looks like earlier this week the market completed the wave [b] in the form of the double zigzag. Later, the price may grow in the fifth wave of the wave [c].




GBP USD, “Great Britain Pound vs US Dollar”

After finishing the descending diagonal triangle, Pound started the correction. Later, the price formed the ascending impulse in the wave (a) and the correction (b). In the future, the pair may complete the wave (c).



As we can see at the H1 chart, Pound has formed the zigzag in the wave (v), the bullish impulse in the wave (a), and then the wave (b). It’s highly likely that in the nearest future the pair may grow and finish the fourth wave of the wave (c) of [ii].




USD JPY, “US Dollar vs Japanese Yen”

Yen has broken the critical level and finished the impulse in the wave [c] of the zigzag in the wave X. Consequently, the correction is moving to a higher level. In the nearest future, the pair may start forming the descending wave (i).



As we can see at the H1 chart, the price has formed the diagonal triangle in the wave (v). it’s highly likely that the market is about to finish the fourth wave in the bearish wave (i). Consequently, later the price may start moving upwards in the wave v of (i).




AUD USD, “Australian Dollar vs US Dollar”

It's highly likely that Australian Dollar has finished the correctional wave 4. On the minor wave level, the pair has formed the double zigzag in the wave [y] and the impulse in the wave (i). After completing the local correction, the price may start falling in the wave (iii).



As we can see at the H1 chart, the market has formed the zigzag in the wave (y) and started a new descending impulse. On Thursday, the pair may finish the wave (ii) in the form of the flat and then continue falling in the third wave.



 
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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.