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

Forex Technical Analysis for 29.12.201529 Dec, 2015  

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...

Forex Technical Analysis for 28.12.201528 Dec, 2015  

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...

Technical analysis for 23.12.201523 Dec, 2015  

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...

Forex Technical Analysis for 22.12.201522 Dec, 2015  

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...

Murrey Math Lines for 21.12.201521 Dec, 2015  

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...

Forex Technical Analysis for 18.12.201518 Dec, 2015  

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...

Forex Technical Analysis for 16.12.201516 Dec, 2015  

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...

Forex Technical Analysis for 15.12.201515 Dec, 2015  

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...

Wave Analysis for 14.12.201514 Dec, 2015  

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...