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Wave Analysis 01.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for December 1st, 2016

EUR USD, “Euro vs US Dollar”

After finishing the descending impulse in the wave 1, the EUR/USD pair started a new ascending correction. Later, after completing the wave 2, the price may start falling in the descending wave [i].



As we can see at the H1 chart, yesterday the pair completed the wave [x] of the wave 2, which is taking the form of the double zigzag. Consequently, in the nearest future the market may start growing in the wave [y] of 2.




GBP USD, “Great Britain Pound vs US Dollar”

In case of the GBP/USD pair, the price is completing the wave (c) of the horizontal triangle [iv]. As a result, in the nearest future the market may continue falling in the wave (d) inside the pattern.



As we can see at the H1 chart, the pair is probably completing the zigzag y in the double zigzag (c). In the nearest future, the market may resume falling in the wave (d) towards the triangle’s downside border.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair reached a new high while forming the ascending wave c of (y). in the nearest future the market may continue growing, nut late the price is expected to reverse and start falling in the bearish impulse in the wave i or a.



More detailed structure is shown on the H1 chart. It’s highly likely that the price may continue forming the wave [5] of c. As a result, the price may break the local high while forming the wave (3).




AUD USD, “Australian Dollar vs US Dollar”

After finishing the descending impulse in the wave (i), the AUD/USD pair started another correction. Consequently, in the nearest future the market may form the wave (ii), which may later be followed by a new decline.



As we can see at the H1 chart, the pair finished the ascending wedge in the wave a. On Thursday, the price may form a new local correction and reach a new local low. Later, the market may start growing in the wave c of (ii).



 
RoboForex Analytical Department

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