Forecast for December 2nd, 2016
Probably, the EUR/USD pair completed the correctional wave 2. Earlier, the price finished the descending impulse in the wave 1. Consequently, during the next several weeks the market may resume falling. To confirm this scenario, the pair has to form the bearish impulse in the wave [i].
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the H1 chart. Probably, the pair completed the wave 2 in the form of the double zigzag. However, to confirm this assumption, the market has to form the descending wave (i).
It’s highly likely that yesterday the GBP/USD pair completed the wave (y) of the double three [iv]. As a result, in the nearest future the market may continue falling in the wave (i). To confirm this scenario, the price has to finish this wave.
GBP USD, “Great Britain Pound vs US Dollar”
More detailed structure is shown on the H1 chart. After finishing the triangle in the wave x, the pair finished the zigzag y of (y). On a shorter timeframe, the market formed the bearish impulse in the wave i and may resume falling.
Bulls aren’t going to stop as the USD/JPY pair continues forming the wave c of (y). Possibly, on Friday the price may reach a new high. Later, the market may start another correction and form the wave i or a.
USD JPY, “US Dollar vs Japanese Yen”
As we can see at the H1 chart, the price is completing the fourth wave in the wave  of c. As a result, after finishing the local correction, the pair may start growing the wave (5) and break yesterday’s high.
Possibly, the price completed the wave (ii). Earlier, the pair finished the diagonal triangle in the wave (c) and then the bearish impulse in the wave (i), Consequently, in the nearest future the market may start a new decline.
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H1 chart, after finishing the ascending wedge in the wave a, the pair formed the short bullish impulse in the wave c of (ii). If later the price forms the wave i, the market may resume falling and break the low of the wave (i).
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.