Wave Analysis 30.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
30.12.2016
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
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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.