Forecast for November 17th, 2015
Probably, Eurodollar is forming the extension in the third wave. On the minor wave level, the price has finished the wave (ii). In the nearest future, the market may continue falling 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 completed the wave ii. In the nearest future, the price may continue falling in the wave iii of (iii).
GBP USD, “Great Britain Pound vs US Dollar”It looks like Pound is still being corrected. Possibly, the pair may break its local high quite soon. Later, after completing the wave [ii], the price may resume its decline.
More detailed structure is shown on H1 chart. The price continues forming the wave [ii] in the form of the zigzag. It looks like in the nearest future the market may continue growing in the wave (c).
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 moving upwards again. It’s highly likely that in the future the pair may continue forming 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”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].
It’s highly likely that the price has already finished the wave (b). Consequently, in the nearest future the market may move upwards while forming the bullish impulse in the wave (c) of [ii].
RoboForex Analytical Department
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