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Home / Analytics / Forex analysis & forecasts / Forex Wave analysis and forecast / Wave analysis of the EUR/USD, GBP/USD, USD/JPY and AUD/USD on 24.12.2015
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Wave analysis of the EUR/USD, GBP/USD, USD/JPY and AUD/USD on 24.12.2015

24.12.2015
EUR/USD currency pair

Wave analysis of the EUR/USD on 24.12.2015

The euro dollar continues the formation of wave 4, and takes the form of a zigzag. Previously it formed a downward momentum in the wave 3 or C. In the short term, perhaps there will be the resumption of a local reduction in the wave [b] of 4.



Wave analysis of the EUR/USD on 24.12.2015

More accurate markings are shown on the hourly chart. It is likely that the wave [b] is taking form of a zigzag, which includes the start of a decline in wave (c). Subsequently, a further downward movement and the breakdown of the minimum of wave (a) are possible.

 
 
GBP/USD currency pair

Wave analysis of the GBP/USD on 24.12.2015
After the alleged end of wave [ii] the pound is trying to resume its decline. It is likely that the wave (ii) was short-lived, and was completed the day before. Accordingly, a further resumption of the downtrend is possible.



Wave analysis of the GBP/USD on 24.12.2015

As you can see from the hour chart a downward momentum in the wave (i) is formed. Presumably, the plane in the wave (ii) is finishing. During the day, perhaps the diagonal triangle in wave c of (ii) will conclude.

 
 
USD/JPY currency pair

Wave analysis of the USD/JPY on 24.12.2015

Most likely, a decline of the Japanese yen is resuming. Previously a zigzag in wave X was completed, after which the price has formed a bearish impulse in wave (i), and adjusted in a plane wave (ii). In the coming days a further decrease in quotations in the wave (iii) is possible.



Wave analysis of the USD/JPY on 24.12.2015

On the hourly chart the wave (ii), presumably, assumed a flat plane. At a junior wave level, a bearish wedge in wave (i) probably formed. In the short term, a decrease in quotations in the wave iii of (iii) is possible.


AUD/USD currency pair

Wave analysis of the AUD/USD on 24.12.2015

With the AUD the wave formation [ii] is coming to an end. Accordingly, soon there will likely be a resumption in the reduction of quotations in the third wave. Earlier, after a double three in the wave 4, a bearish wedge in wave [i] was formed.
 


Wave analysis of the AUD/USD on 24.12.2015

As you can see from the hour chart, wave [ii] takes the form of a zigzag. After the end of the impulse in wave (c) resumption of the decline is possible, as evidenced by the formation of a bearish momentum in 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.