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Wave Analysis 05.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for December 5th, 2016

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair completed the correctional wave 2. Earlier, the price finished the descending impulse in the wave 1. To confirm a new decline, the market has to form the descending impulse in the wave [i].



More detailed structure is shown on the H1 chart. It’s highly likely that the pair is completing the fourth wave in the wave [i]. Consequently, on Monday the market may resume falling and form the wave (v) of [i].




GBP USD, “Great Britain Pound vs US Dollar”

Probably, the GBP/USD pair completed the wave [iv] in the form of the double three. As a result, in the nearest future the market may resume falling. To confirm this scenario, the price has to form the bearish impulse in the wave (i).



As we can see at the H1 chart, the pair finished the triangle in the wave x and then completed the zigzag y of (y) in the wave [iv]. As a result, in the nearest future the market may form the descending impulse in the wave i.




USD JPY, “US Dollar vs Japanese Yen”

Possibly, the USD/JPY pair finished the long bullish impulse in the wave c of (y). If later the market forms the descending impulse in the wave i or a, bears may start a new correction.



As we can see at the H1 chart, the price probably completed the descending wedge in the wave (1). On Monday, the local correction may take place, but later the pair is expected to resume falling in the wave (3).




AUD USD, “Australian Dollar vs US Dollar”

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.



As we can see at the H1 chart, last week finished the descending impulse in the wave i and started a new correction. It’s highly likely that the pair may complete the wave ii very soon and then the market may resume falling in the wave iii of (iii).



 
RoboForex Analytical Department

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