Wave Analysis 29.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
29.12.2015
Forecast for December 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is forming the wave 4, which is probably taking the form of the zigzag. Earlier, the price finished the descending impulse in the wave 3 or C. It looks like the pair in the nearest future the pair may continue forming the wave [b].
More detailed structure is shown on 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”
Probably, Pound has finished the wave [ii] and right now is attempting to resume its decline. It’s highly likely that yesterday the pair completed the wave (ii). Consequently, later the downtrend is expected to resume and the market may break its local low.
After finishing the descending impulse in the wave (i), the market has started a new correction. Probably, the wave (ii) has taken the form of the double three. In the future, the pair may start forming the bearish impulse 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, the wave (ii) has taken the form of the flat. On the minor wave level, the pair has finished the bearish wedge 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”
It looks like Australian Dollar is about to finish the wave [ii]. Earlier, after finishing the wave 4 in the form of the double three, the market formed the bearish wedge in the wave [i]. Consequently, quite soon the pair may continue falling in the wave [iii] of 5.
As we can see at the H1 chart, the wave [ii] is taking the form of the zigzag. On the minor wave level, the pair has completed the impulse in the wave (c). It’s highly likely that in the nearest future the market may resume falling 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.