Wave Analysis 15.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
15.12.2015
Forecast for December 15th, 2015
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the chart structure is being updated. It looks like the pair has formed the bullish wedge in the wave [a]. Consequently, the wave 4 may take the form of the zigzag; in the nearest future, the price may start falling in the wave [b] of this pattern.
More detailed structure is shown on the H1 chart. Probably, the price is about to finish the fifth wave in the wave [a]. On Tuesday, the price may start a local descending correction.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound may yet continue forming the wave [ii]. Possibly, in the end the current correction may take the form of the zigzag. In the nearest future, after finishing the wave (b), the pair may continue forming the impulse in the wave (c) of [ii].
At the H1 chart, Pound has formed the ascending wedge in the wave (a). Yesterday, the price completed the local correction in the wave b. It’s highly likely that right now the market is falling in the wave c of (b); this decline may continue during the day.
USD JPY, “US Dollar vs Japanese Yen”
Yen is about to finish the descending impulse in the wave (i). Consequently, in the nearest future the pair may be corrected. The market may resume its descending movement as soon as the price completes the wave (ii) and forms the first bearish impulse in the wave (iii).
More detailed structure of the descending impulse in the wave (i) is shown on the H1 chart. Right now, the price is about to complete the fifth wave of this impulse. On Tuesday, the market may be corrected in the wave (ii).
AUD USD, “Australian Dollar vs US Dollar”
In case of Australian Dollar, the chart structure remains the same. Earlier, the price finished the double three in the wave 4, the descending impulse in the wave (i), and the local correction in the form of the flat. Later, the price may continue forming the bearish wave (iii).
As we can see at the H1 chart, the market has finished the impulse in the wave i of (iii). On Tuesday, we can expect the local correction, which may be followed by a further decline in the wave iii.
RoboForex Analytical Department
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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.