Article By RoboForex.com
Forecast for November 25th, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is still forming the extension in the wave [iii]. In the nearest future, the price may continue moving downwards in the wave (iii). Possibly, the market may reach a new local low on Wednesday.
As we can see at the H1 chart, the price has finished the descending wedge in wave i. Later, the pair may resume its decline in the bearish wave iii of (iii) and break the local low.
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the wave [ii] in the form of the zigzag, Pound is trying to resume its descending movement. In the future, the pair may continue falling in the wave [iii] and break the minimum of the wave [i].
After finishing the diagonal triangle in the wave (c), the price formed the bearish impulse in the wave (i). Later Pound completed the local correction and started falling in the wave (iii) of [iii]. In the nearest future, the price may continue moving downwards.
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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.
It’s highly likely that the pair is about to finish the wave (iv) in the form of the double zigzag. On the minor wave level, Yen is about to finish the wave y. In the nearest future, price may resume growing in the wave (v) of [iii].
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues forming the wave [ii]. Earlier, the price formed the descending wedge in the wave[i]. Later, after completing the correction, the pair may resume its descending movement in the wave [iii].
At the H1 chart, the wave (c) of [ii] is taking the form of the diagonal triangle. In the nearest future, the price may complete this pattern and start another descending movement in the bearish 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.
