14 December, 2015
EUR USD, “Euro vs US Dollar”
It is likely that the current correction may take more time than expected. Besides the scenario with thehorizontal triangle in the wave 4, Eurodollar may form the double three (see the chart). In this case, in the nearest future, the pair may form the wave [x] and then we can expect a local growth in the wave [y] of 4. More detailed structure is shown on the H1 chart. After finishing the zigzag in the wave [w], the pair has started a new correction. On Monday, the price continue falling in the wave (c) of [x].
GBP USD, “Great Britain Pound vs US Dollar”
The fast ascending movement made by Pound last Friday has completely changed the chart structure. It looks like the price is still forming the wave [ii]. After being corrected for a while in the wave (b), the pair may continue forming the impulse in the wave (c) of [ii]. At the H1 chart, Pound has formed the ascending wedge in the wave (a). It’s highly likely that the price has started falling in the wave a of (b), which may continue on Monday. After completing the local correction in the wave b, the pair may form another bullish impulse, this time in the wave c of (b).
USD JPY, “US Dollar vs Japanese Yen”
At the end of the last week, Yen finished the descending impulse in the wave (i). Consequently, in the nearest future the pair may be corrected. On the higher wave level, probably the market is forming the double three; right now, the price is falling in the wave Y. More detailed structure of the descending impulse in the wave (i) is shown on the H1 chart. Last Friday, the price formed the fifth wave of this impulse. On Monday, the market may be corrected in the wave (iii).
AUD USD, “Australian Dollar vs US Dollar”
In case of Australian Dollar, the chart structure remains the same. Earlier, the price finished the double threein the wave 4, the descending impulse in the wave (i), and the local correction in the form of the flat. Later, the price may continue forming the bearish wave (iii). As we can see at the H1 chart, the market has finished the impulse in the wave i of (iii). On Monday, we can expect the local correction, which may be followed by a further decline in the wave iii.
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...