9 December, 2015
EUR USD, “Euro vs US Dollar”
Last week Eurodollar completed the descending impulse in the wave 3 or C. In the nearest future, the pair may continue forming the wave [c] of the current correction. Later, after finishing it, the price may try to resume its growth.
At the H1 chart, after finishing the diagonal triangle in the wave [v], the pair has rebounded from its lower border and started the correction. It looks like yesterday the market completed the wave [b] in the form of the double zigzag. Later, the price may form the ascending impulse in the wave [c].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the descending diagonal triangle, Pound started the correction. Later, the price formed the ascending impulse in the wave (a). Later, after completing the local correction, the pair may resume its growth in the wave (c).
As we can see at the H1 chart, Pound has formed the zigzag in the wave (v), the bullish impulse in the wave(a), and then the wave (b). It’s highly likely that in the nearest future the pair may grow in the wave (c) of [ii]
USD JPY, “US Dollar vs Japanese Yen”
Probably, the market is still forming the wave (v). It’s highly likely that the price has formed the horizontal triangle in the wave (iv). In the future, the pair may start another ascending movement and break its local high.
More detailed structure is shown on the H1 chart. It looks like the price is about to finish the wave e in the(iv). On Wednesday, the market may rebound from the triangle’s lower border and start moving upwards in the wave i of (v).
AUD USD, “Australian Dollar vs US Dollar”
It's highly likely that Australian Dollar has finished the correctional wave 4. On the minor wave level, the pair has formed the double zigzag in the wave [y] and the impulse in the wave (i). After completing the local correction, the price may start falling in the wave (iii).
As we can see at the H1 chart, the market has formed the zigzag in the wave (y) and started a new descending impulse. On Wednesday, the pair may be corrected for a while and then continue falling.
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...