Article By RoboForex.com
Forecast for December, 2013 can be found here.
Analysis for December 5th, 2013
EUR/USD
Probably, mid-term ascending trend inside wave [C] started with diagonal triangle (1) of [C], which is about to be completed.
Possibly, right now price is finishing large ascending diagonal triangle (1) with final zigzag 5 of (1), which started with diagonal triangle [a] of 5 of (1).
Probably, price is finishing diagonal triangle [a] of 5, which may be followed by local descending correction [b] of 5.
GBP/USD
Possibly, Pound is forming mid-term ascending trend inside large impulse (C). Right now, pair is finishing ascending impulse 1 of (C).
Probably, price is finishing ascending impulse [iii] of 1, which may be followed by descending correction [iv] of 1.
Possibly, price is completing ascending impulse [iii] of 1], which may be followed by descending correction [iv].
USD/CHF
Probably, Franc is forming large descending zigzag A-B-C of (5) of [C]. Right now pair is finishing its first part, descending diagonal triangle A of (5).
Possibly, Franc is forming diagonal triangle (a) of [v] of A of final descending zigzag [v] of A.
Probably, price is completing descending diagonal triangle (a) of [v], which may be followed by local ascending correction (b) of [v].
USD/JPY
Possibly, Yen is completing large ascending impulse (A). In this case, later pair is expected to start large descending correction (B).
Probably, pair is forming final ascending impulse 5 of (A). If it’s true, then right now price is forming descending correction [iv] of 5, after which ascending trend may continue.
Possibly, price is finishing local descending correction [iv] of 5 or its first part.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
