Forecast for November 9th, 2015
It looks like Eurodollar has completed the first wave in the wave [iii]. In the nearest future, the market may form a local correction. Later, after completing the wave (ii), Eurodollar is expected to resume moving downwards.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on H1 chart. Possibly, the wave (ii) is taking the form of the zigzag. During the day, the pair may be corrected in the descending wave b of (ii).
GBP USD, “Great Britain Pound vs US Dollar”Pound continues forming the descending impulse in the wave [i]. Earlier, the price finished the wave 2 in the form of the flat. It’s highly likely that on Monday the pair may reach a new local low.
As we can see at the H1 chart, Pound has formed the third wave in the wave [i]. In the nearest future, the pair may continue forming the wave (iv) and then resume falling inside the downtrend.
USD JPY, “US Dollar vs Japanese Yen”Probably, after completing the wave 4 in the form of the zigzag, Yen has started the ascending impulse in the fifth wave. Probably, right now the market is forming the extension in the wave [iii]. Later, the pair is expected to start a new growth in the wave (iii) of [iii].
At the H1 chart, Yen formed the bullish impulse in the wave (i). After that, the wave (ii) took the form of the double three. In the future, the market may continue growing in the third wave of the extension in the wave (iii).
AUD USD, “Australian Dollar vs US Dollar”It looks like Australian Dollar is starting another descending movement in the wave (iii) inside the extension of wave [iii]. Later, the price may continue moving downwards and reach new lows.
More detailed structure of the descending impulse in the wave (i) is shown on H1 chart. Probably, the price has finished the wave (ii) in the form of the double zigzag. In the future, the market may continue its descending movement.
RoboForex Analytical Department
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