Forecast for December 30th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has made a quick ascending movement and, probably, completed the wave
[ii]. As a result, in the nearest future the market may resume falling in the wave
[iii] and break the low of the wave
[i].
Probably, yesterday the pair completed the wave
(c) of [ii] and the correction took the form of the
zigzag(a)-(b)-(c). Later, the price formed the descending impulse in the wave
i. In the nearest future, the market may fall in the wave
iii.
GBP USD, “Great Britain Pound vs US Dollar”
In case of the GBP/USD pair, the price is forming the fourth wave in the descending impulse
[v]. Consequently, in the nearest future the market may resume moving downwards in the wave
(v) of [v].
As we can see at the H1 chart, after the pair formed the descending
extension in the wave
(iii), the wave
(iv) took the form of the
zigzag. Consequently, in the nearest future the market may move downwards in the wave
(v) and break the low of the third wave.
USD JPY, “US Dollar vs Japanese Yen”
Probably, the USD/JPY pair completed the ascending impulse in the wave
c of (y). Consequently, during the next several days the market may form the descending wave
i or a, which may take the form of the
wedge.
More detailed structure is shown on the H1 chart. Probably, the pair is forming the fourth wave of the
wedge. It’s highly likely that in the nearest future the correction may continue. Later, the price may start falling in the wave
[5].
AUD USD, “Australian Dollar vs US Dollar”
Probably, the AUD/USD pair completed only the first wave of the wave
(iii). In the nearest future, the market may finish the ascending correction. As a result, later the price may resume moving downwards in the wave
iii of (iii).
More detailed structure is shown on the H1 chart. Probably, the pair is about to complete the wave
ii in the form of the
zigzag. After finishing the wave
[C], the market may resume its decline.
RoboForex Analytical Department