Wave Analysis for 17.12.2015

17 December, 2015

EUR USD, “Euro vs US Dollar”

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. As we can see at the H1 chart, the price has finished the fifth wave in the wedge [a] and then the descending impulse in the wave (a). Right now, the pair is falling in the wave (c) of [b]. On Thursday, the market may continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming the wave [ii], which may take the form of the zigzag. Earlier, the price completed the wedge in the wave (a). In the nearest future, after finishing the wave (b), the pair may start forming the impulse in the wave (c) of [ii]. More detailed structure is shown on the H1 chart. After finishing the wedge in the wave (a), Pound has started a new correction. On the minor wave level, the price has completed the impulse in the wave a and may start a new local correction in the wave b.

USD JPY, “US Dollar vs Japanese Yen”

At the H4 chart, Yen has finished the descending impulse in the wave (i). At the moment, the pair is being corrected in the wave (ii). in the nearest future, the market may start falling in the wave (iii). More detailed structure is shown on the H1 chart. It looks like after completing the wave v of (i), the market is being corrected in the wave (ii), which is taking the form of the flat. On Thursday, the price may finish the impulse in the wave c of (ii).

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is finishing the descending wedge in the wave (i). If the price rebounds from the pattern’s lower border, it may start a new correction. We’ll be more sure about a new decline after the price completes the wave (ii) and forms the bearish wave i of (iii). At the H1 chart, the market is finishing the wave v of (i). Probably, in the nearest future the price may rebound from the lower border of the wedge. Consequently, on Wednesday the pair may start the ascending correction in the (ii).

RoboForex Analytical Department


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