Wave Analysis 16.12.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

16.12.2015

Forecast for December 16th, 2015

EUR USD, “Euro vs US Dollar”

It looks like the pair has formed the wave [a] and started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may start forming the ascending impulse in the wave [c] of 4.



As we can see at the H1 chart, yesterday the price finished the fifth wave in the wedge[a] and then the descending impulse in the wave (a) along with the local correction. On Wednesday, the price may fall in the bearish wave (c) of [b].




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming the wave [ii]. Possibly, in the end the current correction may take the form of the zigzag. In the nearest future, after finishing the wave (b), the pair may continue forming the impulse in the wave (c) of [ii].



More detailed structure is shown on the H1 chart. It looks like Pound has formed the wedge in the wave (a). After completing the wave b, the price has started falling in the wave c of (b); this decline may continue during the day.




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has finished the descending impulse in the wave (i). Consequently, in the nearest future the pair may be corrected. The market may resume its descending movement as soon as the price completes the wave (ii) and forms the first bearish impulse 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 may take the form of the flat. On Wednesday, 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. I’m planning to start selling the pair as soon as the price completes the correction 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).



 
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.