Article By RoboForex.com
Analysis for December 3rd, 2014
In our previous review, “The uptrend is being delayed. Wave analysis of AUD/USD for 25.11.2014”, we discussed a possible scenario how the price may start complete correction (4).
Our mid-term expectations haven’t changed so far – according to the main scenario the market is expected to complete correction (4) and start an ascending zigzag A-B-C of (5), unless the price chooses one of alternative scenarios.
Probably, the price is finishing its descending movement inside ending diagonal triangle (v) of [v] of C of (4). The third wave of this triangle, iii of (v), shorter than the first one, i of (v). In this case, the critical level is at 0.8335, which isn’t going to be broken with a probability of 85%. If this assumption is correct, one can use it to one’s own profit.
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
RoboForex Analytical Department
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Article By RoboForex.com
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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
