Wave Analysis 28.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
28.12.2015
Forecast for December 28th, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is forming the wave 4, which may be 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 in the nearest future.
As we can see at the H1 chart, Eurodollar is about to finish the wave (b) in the zigzag[b]. Later, the market is expected to continue falling in the wave (c) and break the minimum of the wave (a) of [b].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the wave [ii], Pound is attempting to resume its decline. It’s highly likely that right now the pair is completing the wave (ii) in the form of the flat. Consequently, later the downtrend is expected to resume.
After finishing the descending impulse in the wave (i), the market has started a new correction. Probably, right now Pound is completing the diagonal trianglec in the flat(ii). In the future, the pair may start falling in the wave i.
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 continue 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].
More detailed structure is shown on the H1 chart. Probably, 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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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.