Wave analysis EUR/USD, GBP/USD, USD/JPY and AUD/USD on 23.12.2015

23.12.2015
EUR/USD currency pair

EUR/USD wave analysis on 23 December 2015

The euro dollar continues the formation of wave 4, which is taking the form of a zigzag. Previously a downward momentum in the wave 3 of C was formed. During the day, a local reduction in the wave [b] of 4 may start again.



EUR/USD wave analysis on 23 December 2015

More details are shown on the hourly chart. Most likely, the wave [b] is taking the form of a zigzag, which included the start of a decline in wave (c). In the short term a further downward movement and the breakdown of the minimum of wave (a) is possible.



GBP/USD currency pair

GBP/USD wave analysis on 23 December 2015

After the expected completion of wave [ii] the pound is trying to resume its decline. It is likely that the wave (ii) was short-lived, and was completed the day before. Accordingly, a further possible resumption of the downtrend is possible.



GBP/USD wave analysis on 23 December 2015

As seen from the markup of the hour chart a downward momentum in the wave (i) is formed. Presumably, the price is formed within the first wave starting (iii). During the day, the local minimum may be updated.



USD/JPY currency pair

USD/JPY wave analysis on 23 December 2015

It is likely that the decline of the Japanese yen will resume. Previously the zigzag in wave X was completed, after which the price has formed a bearish impulse in wave (i), which corrected in a plane wave (ii). In the coming days a further decrease in quotations in the wave (iii) is possible.



USD/JPY wave analysis on 23 December 2015

On the hourly chart the wave (ii), presumably, assumed a flat form. At the junior wave level, probably a bearish wedge in wave i was formed. In the short term, after the local correction a decrease in quotations in the wave iii of (iii) may happen.



AUD/USD currency pair

AUD/USD wave analysis on 23 December 2015

For the AUD the wave formation [ii] is coming to an end. Accordingly, soon a reduction in the quotations in the third wave is likely to resume. Earlier, after a double three in the wave 4 was formed in the wake of the bearish wedge [i].



AUD/USD wave analysis on 23 December 2015

As can be seen on the markup of the hour chart, wave [ii] takes the form of a zigzag. After the end of the impulse in wave (c) a resumption of the decline is possible, as evidenced by the formation of a bearish momentum in wave (i).
Attention!

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.