Forecast for December 1st, 2015
It looks like the pair has completed the extension in the third wave of the wave 3. In the nearest future, the pair may for the correctional wave [iv]. Later, after finishing the correction, the market may resume falling in the wave [v] of 3.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the price has formed the diagonal triangle in the wave (v) and rebounded from its lower border. It’s highly likely that during the day the pair may form an ascending correction.
GBP USD, “Great Britain Pound vs US Dollar”After finishing the wave [ii], Pound has started forming the bearish wave [iii]. In the future, after completing the local correction, the pair may continue falling and break the minimum of the wave [i].
Probably, the wave (ii) is taking the form of the flat. In the nearest future, Pound may continue growing in the wave c. Later, the market is expected to resume its decline in the wave (iii).
USD JPY, “US Dollar vs Japanese Yen”In case of Yen, the pair may continue growing in the wave (v) of the bullish extension in the wave [iii]. Later, the pair is expected to start the correctional wave [iv] of 5, which may take quite a lot of time.
It looks like the pair has finished the wave (iv) in the form of the double zigzag. On the minor wave level, Yen is starting another growth in the wave iii of the wave (v) of [iii]. The market may resume growing inside the uptrend on Tuesday.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has resumed the wave [ii], which is taking the form of the double zigzag. Probably, in the nearest future the pair may complete the wave (y). Later, after finishing the descending impulse in the wave [iii], the pair may resume its descending movement.
More detailed structure is shown on the H1 chart. It looks like the price is forming the bullish impulse a in the wave (y) of [ii]. In the nearest future, the pair may continue forming the zigzag in the wave (y).
RoboForex Analytical Department
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