Forecast for November 24th, 2015
Probably, Eurodollar is still forming the extension in the wave [iii]. In the nearest future, the price may continue moving downwards in the wave (iii). Possibly, the market may reach a new local low during the day.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. The price has finished the descending wedge in wave i. On Tuesday, the pair may resume its decline in the bearish wave iii of (iii) and break the yesterday’s low.
GBP USD, “Great Britain Pound vs US Dollar”Last week, Pound finished the wave [ii] in the form of the zigzag. In the future, the pair may continue its descending movement in the wave [iii] and break the minimum of the wave [i].
After finishing the diagonal triangle in the wave (c), the price has formed the bearish impulse in the wave (i). Later, after completing the local correction, the pair may continue its descending movement in the wave (iii) of [iii].
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.
It’s highly likely that the pair is about to finish the wave (iv) in the form of the double three. On the minor wave level, Yen is about to finish the wave y. In the nearest future, price may resume growing in the wave (v) of [iii].
AUD USD, “Australian Dollar vs US Dollar”It looks like Australian Dollar has finished the wave [ii] in the form of the zigzag. Earlier, the pair formed the descending wedge in the wave [i]. It’s highly likely that in the nearest future the market may start falling in the wave [iii].
At the H1 chart, after completing the impulse in the wave (c) of [ii], the pair has formed the bearish impulse in the wave i. Later, the market may start another descending movement in the wave iii and break the local low.
RoboForex Analytical Department
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