3 December, 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).
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
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...