Forecast for December 2nd, 2015
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the correction continues. It looks like the pair is about to complete the fourth wave in the wave 3
. In the future, the pair may resume falling in the wave [v] of 3
and break the local minimum.
As we can see at the H1 chart, after finishing the diagonal triangle
in the wave (v) of [iii]
, the pair has started another correction. On Wednesday, the market may complete the wave [iv]
and then start a new descending wave (i) of [v]
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, after finishing the wave [ii]
, the pair has started forming the bearish wave [iii]
. In the future, the price may continue falling and break the minimum of the wave [i]
Probably, the wave (ii)
has taken the form of the flat
. On the minor wave level, the market has completed the bullish impulse in the wave c
. consequently, in the nearest future Pound may resume its decline in the wave (iii)
and reach a new local low.
USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the pair may continue growing in the wave (v)
of the bullish extension
in the wave [iii]
. Later, the pair is expected to start the correctional wave [iv] of 5
, which may take quite a lot of time.
It looks like the pair has finished the wave (iv)
in the form of the horizontal triangle
. In the nearest future, Yen may resume growing in the wave (v)
and break the maximum of the wave (iii) of [iii]
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is about to finish the wave [ii]
, which is taking the form of the double zigzag
. Probably, in the nearest future the pair may complete the wave (y)
. Later, after finishing the descending impulse in the wave [iii]
, the pair may resume its descending movement.
As we can see at the H1 chart, the price may complete the wave (y)
in the form of the zigzag
. On the minor wave level, the pair has finished the bullish impulse in the wave c of (y)
. Possibly, the market may form the bearish impulse in the wave [iii]
during the day.
RoboForex Analytical Department