Article By RoboForex.com
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.
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].
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].
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
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