Article By RoboForex.com
Analysis for December 29th, 2014
In our previous review, “Possible alternative. Wave analysis of USD/CAD for 29.12.2014”, we discussed one of the possible scenarios how the price may start the downtrend inside zigzag (D) of [B].
Probably, the price is finishing the final impulse [v] of C of (C) of a large ascending zigzag C of (C), which may be followed by a descending zigzag (D) with the target at level of ~0.95 of a bit higher.
If the assumption is correct, than later the market may to make the final ascending movement inside wave v of (v) of [v]. The length of this movement is expected to be equal the height of triangle iv of (v).
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.
