Article By RoboForex.com
Forecast for December 3rd, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar completed the wave (v) of [iii] on Wednesday and started a new correction. During the next several days, the pair may form the wave [iv]. Later, the market resume falling in the wave [v] of 3.
As we can see at the H1 chart, after finishing the diagonal triangle in the wave (v) of [iii], the pair has rebounded from its lower border. It’s highly likely that on Thursday the market may form the correctional wave [iv].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the wave [ii] in the form of the zigzag, Pound has started falling fast in the wave [iii]. In the future, the price is expected to complete the short-term correction, continue falling and reach a new local low.
As we can see at the H1 chart, Pound is forming the descending impulse in the wave (iii). On the minor wave level, the market has completed the wave iii and right now is being corrected in the wave iv. Later, the market may continue its decline in the wave v 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 bullish extension in the wave [iii]. Later, the pair is expected to start the correctional wave [iv] of 5, which may take quite a lot of time.
More detailed structure is shown on the H1 chart. It looks like after finishing the wave (iv) in the form of thehorizontal triangle, Yen has formed the first ascending wave in the wave (v) of [iii]. On the minor wave level, after completing the local correction, the market may resume growing in the wave iii of (v).
AUD USD, “Australian Dollar vs US Dollar”
Probably, Australian Dollar has finished the wave [ii] in the form of the double zigzag. Later, after finishing the descending impulse in the wave [iii], the pair may resume falling inside the downtrend.
As we can see at the H1 chart, after finishing the bullish impulse in the wave c of (y), the pair has formed a short descending impulse, which is probably the wave i. Possibly, after completing the local correction, the market may start falling in the third wave.
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.
