20 November, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is still forming the extension in the wave [i]. 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.
More detailed structure is shown on H1 chart. It looks like the price has finished the descending wedge in wave i. In the nearest future, the pair resume its decline in the wave iii of (iii).
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the price is about to finish the wave [ii]. Possibly, the correction may compete during the day. To start a new descending movement in the wave [iii], the pair has to form the first wave inside it.
At the H1 chart, we can see that the price has formed the diagonal triangle in the wave (c). Consequently, in the nearest future the pair may resume its descending movement in the wave (i) of [iii].
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 (v) if taking the form of the diagonal triangle. On the minor wave level, Yen is about to finish the wave ii. Possibly, on Friday the price may start growing in the wave iii of (v).
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is about to finish 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 wave (c) with the truncated fifth wave inside it. If the market forms a bearish impulse during the day, the pair may resume its descending movement.
RoboForex Analytical Department
Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...
Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...
The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...
Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...
Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...
After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...
Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...
Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...