Forecast for November 28th, 2016
Probably, the EUR/USD pair finished the descending impulse in the wave 1 and started a new ascending correction. As a result, during this week the market may move upwards in the wave 2.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. It looks like the pair is forming the ascending impulse in the wave [a]. On a shorter timeframe, after completing the correction, the market may start forming the bullish wave (v) of [a].
It’s highly likely that the GBP/USD pair is forming the wave [iv] in the form of the horizontal triangle. Consequently, during the next several weeks, the market may continue forming the current flat and the descending wave (d) inside it.
GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H1 chart, the pair finished the waves (b) and (c), both in the form of the double zigzag. However, right now it’s not quite clear which form the wave (d) is going to take – it might be both the zigzag or the double zigzag.
It looks like the USD/JPY pair finished the ascending impulse in the wave c of (y), which is a part of the double zigzag in the wave [iv]. Consequently, during the next several days the market may form the descending impulse in the wave i or a.
USD JPY, “US Dollar vs Japanese Yen”
More detailed structure of the bullish impulse c is shown on the H1 chart. Last week, the pair completed the wave  of c. To confirm a new decline, the market has to form the bearish impulse in the wave .
Probably, the AUD/USD pair finished the diagonal triangle in the wave (c) of [y], the descending wave (i), and then started another correction. It’s highly likely that during the next several days the market may continue forming the wave (ii).
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H1 chart, the pair finished the wave (i) by forming the wedge a, and then started a new correction. On Monday, the market may complete the wave b and then continue growing in the wave c of (ii).
RoboForex Analytical Department
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