Wave Analysis 18.11.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for November 18^th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is forming the extension in the third wave. Earlier, the price finished the wave (ii). In the nearest future, the market may continue falling in the wave (iii) of [iii] and break its local low.



At the H1 chart, the wave (ii) took the form of the double three and was followed by the initial impulse in the wave i and the wave ii. In the nearest future, the price may continue falling in the wave iii of (iii).

GBP USD, “Great Britain Pound vs US Dollar”

It looks like Pound is still being corrected. Possibly, the pair may break its local high quite soon. Later, after completing the wave [ii], the price may resume its decline.



At the H1 chart, the price continues forming the wave [ii] in the form of the zigzag. It looks like in the nearest future the market may continue growing in the wave (c). After that, the pair may resume its descending movement.

USD JPY, “US Dollar vs Japanese Yen”

In case of Yen, the pair may continue growing in the wave (v) of the extension in the wave [iii]. Later, the pair is expected to start the correctional wave [iv] of 5.



At the H1 chart, Yen is moving upwards again. On the minor wave level, the price has formed the first wave in the wave (v) of [iii]. After completing the local correction, the market may continue growing in the third wave.

AUD USD, “Australian Dollar vs US Dollar”

Probably, the pair has formed the wedge in the wave [i]. Later, after completing the local correction, the market may resume falling in the bearish wave [iii].



It’s highly likely that the price has already finished the wave (b) in the wave [ii] in the form of the triangle. Consequently, in the nearest future the market may move upwards while forming the bullish impulse in the wave (c) of [ii].



 
RoboForex Analytical Department