Wave Analysis 22.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
22.12.2015
Forecast for December 22nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is forming 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, the pair is forming the wave [b], which may continue on Tuesday.
More detailed structure is shown on the H1 chart. It looks like Eurodollar is finishing the wave (b) in the zigzag[b]. In the nearest future, the market may fall in the wave (c) of [b].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the wave [ii], Pound is attempting to resume its decline. Considering that the pair has already completed the wave (i) of [iii], it may start a local ascending correction. Later, the market is expected to complete the wave (ii) and start a new descending movement in the third wave.
As we can see at the H1 chart, the price has 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. Consequently, on Tuesday the market may reach a new local high.
USD JPY, “US Dollar vs Japanese Yen”
It looks like Yen is 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”
Australian Dollar is about to finish the wave [ii]. Consequently, quite soon the pair may continue falling in the third wave. Earlier, after finishing the wave 4 in the form of the double three, the market formed the bearish wedge in the wave [i].
As we can see at the H1 chart, the wave [ii] is taking the form of the zigzag. In the future, after completing the impulse in the wave (c), the market may resume falling and form the bearish impulse in the wave (i).
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