Wave Analysis 19.11.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
19.11.2015
Forecast for November 19th, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is forming the extension in the third wave. On the minor wave level, the price has started the wave (iii). After completing the local correction, the market may resume its decline towards new lows.
At the H1 chart, we can see that after finishing the wave (ii) in the form of the double three, the pair has formed the bearish wedge in the wave i. On Thursday, the price may continue the correction in the wave ii, which may followed by the descending impulse in the wave iii of (iii).
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the price is about to finish the wave [ii]. Possibly, the correction may compete during the day. To start a new descending movement in the wave [iii], the pair has to form the first wave inside it.
More detailed structure is shown on H1 chart. It looks like the price may form the local correction inside the ascending impulse in the wave (c). After that, the pair may resume its descending movement in the wave (i).
USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the pair may continue growing in the wave (v) of the extension in the wave [iii]. Later, the pair is expected to start the correctional wave [iv] of 5.
At the H1 chart, Yen is moving upwards again. On the minor wave level, the price has formed the first wave in the wave (v) of [iii]. After completing the local correction, the market may continue growing in the third wave.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is about to finish the wave [ii] in the form of the zigzag. Earlier, the pair formed the descending wedge in the wave [i]. It’s highly likely that the market may start falling in the wave (i) of [iii].
At the H1 chart, the price is growing in the bullish impulse in the wave (c) and may complete it during the day. Later, the pair may reverse downwards and start forming the bearish wave [iii].
RoboForex Analytical Department
Attention!
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.