Forecast for December 8th, 2015
Probably, last week Eurodollar completed the descending impulse in the wave 3 or C. In the nearest future, the pair may continue forming the correctional wave [b], which may be followed by another bullish impulse in the wave [c] of 4.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. After finishing the diagonal triangle in the wave [v], the pair has rebounded from its lower border and started the correction. On Tuesday, the market may continue forming the descending wave [b].
GBP USD, “Great Britain Pound vs US Dollar”After finishing the diagonal triangle, Pound started the correction. Later, the price formed the ascending impulse in the wave (a). Later, after completing the local correction, the pair may resume its growth in the wave (c).
As we can see at the H1 chart, Pound has formed the zigzag in the wave (v) and the bullish impulse in the wave (a). In the nearest future, the price may continue forming the correctional wave (b).
USD JPY, “US Dollar vs Japanese Yen”Probably, the market is still forming the wave (v). In the future, after finishing the current ascending impulse, the price may start a long bearish correction.
More detailed structure is shown on the H1 chart. It looks like the price is forming the third wave in the (v). On Tuesday, after completing the local correction, the market is expected to resume moving upwards.
AUD USD, “Australian Dollar vs US Dollar”It's highly likely that Australian Dollar has finished the correctional wave 4. On the minor wave level, the pair has formed the double zigzag in the wave [y]. Possibly, in the future the market may fall in the wave (i).
As we can see at the H1 chart, the market has formed the zigzag in the wave (y) and started a new descending impulse. On Tuesday, the pair may be corrected for a while and then continue falling.
RoboForex Analytical Department
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