Article By RoboForex.com
Forecast for November 23rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming the extension in the wave [iii]. On the minor wave level, the price may continue moving downwards in the wave (iii). It’s highly likely that the market may reach a new local low very soon.
At the H1 chart, the price has finished the descending wedge in wave i. on Monday, the pair may resume its decline in the bearish wave iii of (iii) and break the last week’s low.
GBP USD, “Great Britain Pound vs US Dollar”
Last Friday, Pound finished the wave [ii]. In the future, the pair may continue its descending movement in the wave [iii]. It’s highly likely that in the nearest future the market may break the minimum of the wave [i].
Probably, price has formed the diagonal triangle in the wave (c) and then resumed falling. Later, after completing the local correction, the pair may continue its descending movement in the wave (iii) of [iii].
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USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the pair may continue growing in the wave (v) of the extension in the wave [iii]. Later, the pair is expected to start the correctional wave [iv] of 5.
Probably, the wave (iv) has taken the form of the horizontal triangle. On the minor wave level, Yen is about to finish the wave d. in the nearest future, price may resume growing in the wave (v) of [iii].
AUD USD, “Australian Dollar vs US Dollar”
It looks like Australian Dollar has finished the wave [ii] in the form of the zigzag. Earlier, the pair formed the descending wedge in the wave [i]. It’s highly likely that in the nearest future the market may start falling in the wave [iii].
At the H1 chart, the price may have completed the impulse in the wave (c) of [ii]. At the moment, the price is finishing the bearish impulse in the wave i. Later, the market may start a local correction, which may be followed by another descending movement in the wave iii.
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.
