Forecast for November 27th, 2015
It looks like the pair continues forming the extension in the wave 3. On the minor wave level, the price has finished the wave [iv]. Consequently, in the nearest future the market continue falling in the wave [v] of 3.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. The wave (v) of [iii] has taken the form of the diagonal triangle. Probably, right now the market is forming the descending impulse in the wave (i) of [v]. the pair may reach a new local low on Friday.
GBP USD, “Great Britain Pound vs US Dollar”Pound is back to falling as it is forming the wave [iii]. Earlier, the price finished the wave [ii] in the form of the zigzag. In the future, the pair may continue falling in the third wave and break the minimum of the wave [i].
After completing the wave (ii), Pound has started falling in the wave (iii) of [iii]. Earlier, the price formed the diagonal triangle in the wave (c) thus finishing the wave [ii]. Later, the market is expected to continue falling in the third wave.
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.
Probably, 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]. It’s highly likely that the market may break the maximum of the wave i on Friday.
AUD USD, “Australian Dollar vs US Dollar”Probably, Australian Dollar has finished the wave [ii] in the form of the double zigzag. Earlier, the price formed the descending wedge in the wave [i]. Later, the pair may resume its descending movement in the wave [iii].
It looks like yesterday the price completed the zigzag in the wave (y) of [ii] with the bullish impulse c inside it. Consequently, in the nearest future the pair may start another descending movement in the first wave of the wave [iii].
RoboForex Analytical Department
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