Wave Analysis 06.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

06.12.2016

Forecast for December 6th, 2016

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair is completing the bullish impulse [c] in the flat2. As a result, in the nearest future the market may resume falling and form the bearish impulse in the wave [i].



More detailed structure is shown on the M30 chart. It looks like the pair may be forming the fifth wave in order to complete the wave [c]. Consequently, on Tuesday the market may break the high of the wave (iii).




GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair is about to complete the wave [iv] in the form of the double three. On a shorter timeframe, the price is finishing the wave (y). Consequently, in the nearest future the market may resume falling in the wave (i).



As we can see at the H1 chart, the pair is finishing the diagonal trianglec in the zigzag(y). As a result, on Tuesday the market may form the descending impulse in the wave i.




USD JPY, “US Dollar vs Japanese Yen”

Possibly, the USD/JPY pair finished the long bullish impulse in the wave c of (y). If later the market forms the descending impulse in the wave i or a, bears may start a new correction.



It’s highly likely that yesterday the price completed the diagonal triangle in the wave [5] of c and started forming the descending impulse in the wave (1). Consequently, after finishing the local correction, the market may resume falling in the wave (3).




AUD USD, “Australian Dollar vs US Dollar”

Possibly, the price completed the wave (ii). Earlier, the pair finished the diagonal triangle in the wave (c) and then the bearish impulse in the wave (i), Consequently, in the nearest future the market may start a new decline.



It’s highly likely that the pair finished the wave (ii) in the form of the zigzag. Yesterday, the price completed the bullish impulse in the wave c. To confirm a new decline, the market has to form the bearish impulse in the wave i.



 
RoboForex Analytical Department

Attention!

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.

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