Forecast for November 16th, 2015
It looks like Eurodollar has completed the wave (ii) of [iii]. This week, the market may resume its decline and break the minimum while forming the wave (iii) of [iii].
EUR USD, “Euro vs US Dollar”
At the H1 chart, the wave (ii) has taken the form of the double three. On the minor wave level, the pair has formed the wave i of (iii). In the nearest future, the price may continue falling and break the minimum.
GBP USD, “Great Britain Pound vs US Dollar”It looks like Pound has finished the wave [ii]. Earlier, after completing the wave 2, the pair formed the descending impulse in the wave [i]. In the future, the price may resume its decline.
At the H1 chart, we can see that the wave [ii] has taken the form of the zigzag. On the minor wave level, the market has formed the bullish impulse in the wave (c). In the nearest future, the pair may resume its descending movement in the wave (i).
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 about to complete its local correction. It’s highly likely that after finishing the wave (iv), the pair may form the bullish impulse in the wave (v) of [iii]. The market may reach a new high during the day.
AUD USD, “Australian Dollar vs US Dollar”In case of Australian Dollar, the chart structure has been changed. Probably, the pair has form the wedge in the wave [i]. Later, after completing the local correction, the market may resume falling in the bearish wave [iii].
At the H1 chart, the price has formed the ascending impulse in the wave (a), which, in the nearest future, may be followed by the descending correctional wave (b). On the major wave level, the market is extending the zigzag in the wave [ii].
RoboForex Analytical Department
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