Wave Analysis 21.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

21.12.2015

Forecast for December 21st, 2015

EUR USD, “Euro vs US Dollar”

It looks like Eurodollar is still being corrected in the wave 4, which is taking the form of the zigzag. Earlier, the price finished the descending impulse in the wave 3 or C. On the minor wave level, in the nearest future the pair may continue forming the wave [b].



More detailed structure is shown on the H1 chart. After finishing the wedge in the wave [a], the price started another correction and has already formed the bearish impulse in the wave (a). Later, after completing the wave (b), the market may continue falling in the wave (c) of [b].




GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound has finished the wave [ii]. Earlier, the price completed the descending wedge in the wave [i]. It looks like the pair has completed the wave (i) of [iii] as well, that’s why it may start a local ascending correction.



As we can see at the H1 chart, at the end of the last week the price formed the descending impulse in the wave (i). In the future, Pound may start a new correction in the wave (ii), probably in the form of the zigzag.




USD JPY, “US Dollar vs Japanese Yen”

It looks like Yen his starting a new decline. After finishing the zigzag in the wave X, the price has formed the bearish impulse in the wave (i) and the correction in the form of the flat in the wave (ii). During the next several days, the market may continue falling in the wave (iii).



As we can see at the H1 chart, Yen completed the flat in the wave (ii). On the minor wave level, the pair has finished the bearish impulse in the wave i. In the nearest future, the price may finish the local correction and start falling in the wave iii of (iii).




AUD USD, “Australian Dollar vs US Dollar”

It’s highly likely that after finishing the wave 4 in the form of the double three, Australian Dollar has formed the descending wedge in the wave [i]. During the next several days, the price may be corrected and then continue falling in the wave (iii).



More detailed structure is shown on the H1 chart. Probably, after finishing the wave (v) of [i], the market has started a new correction in the wave [ii], which may take the form of the zigzag. At the moment, the pair is forming the bullish impulse in the wave (a) of this pattern, which may be completed on Monday.



 
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.