Article By RoboForex.com
Analysis for December 12th, 2014
In our previous reviews, “Expecting the trend reversal. Wave analysis of AUD/USD for 03.12.2014”, we discussed a possible scenario how the price may complete a descending correction (4).
Our mid-term expectations haven’t changed so far – according to the main scenario the market is expected to complete a descending correction (4) and start the final ascending zigzag A-B-C of (5), unless the price chooses one of alternative scenarios.
Probably, the price is finishing its descending movement inside impulse (v) of [v] of C of (4), which is not quite usual. The first wave of this impulse, i of (v), is a leading diagonal triangle, and the third wave, iii of (v), is shorter than the first one, i of (v). It means that the critical level here is at 0.8045, which mustn’t be broken until the market finishes the downtrend.
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
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
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.
