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Wave Analysis 13.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for December 13th, 2016

EUR USD, “Euro vs US Dollar”

After completing the double three in the wave 2, the EUR/USD pair formed the descending impulse in the wave [i]. In the nearest future, the market may be corrected, but later it is expected to resume falling in the wave [iii] of 3.



As we can see at the M30 chart, the pair completed the wave [i], the bullish impulse in the wave (a), and, possibly, the correctional wave (b) as well. As a result, after finishing the wave (c) of [ii], the market may resume falling in the wave (i).




GBP USD, “Great Britain Pound vs US Dollar”

It looks like after completing the wave [iv], the GBP/USD pair formed the bearish wedge in the wave (i). In the nearest future, the market may finish the local correction and start a new decline. As a result, the price may break the local low quite soon.



At the H1 chart, the pair completed the wave (i) and then formed the ascending zigzag, which may be the wave w of (ii). Consequently, the local correction may take the form of the double zigzag. To confirm a new decline, the market has to form the descending impulse in the wave i.




USD JPY, “US Dollar vs Japanese Yen”

Probably, the USD/JPY pair completed the ascending impulse in the wave c of (y). Consequently, in the nearest future the market may start a new descending correction. To confirm this scenario, the price has to form the bearish impulse in the wave i or a.



As we can see at the H1 chart, the pair completed the descending impulse in the wave [1], thus finishing the bullish impulse, and may start a new bearish correction. As a result, in the nearest future the market may continue falling in the wave [3].




AUD USD, “Australian Dollar vs US Dollar”

Probably, the AUD/USD pair completed the correctional wave (ii) after finishing the diagonal triangle in the wave (c) and the descending impulse in the wave (i). As a result, in the nearest future the market may start forming the wave (iii).



More detailed structure is shown on the H1 chart. The pair completed the diagonal triangle in the wave c of (ii) and rebounded from the pattern’s upside border. To confirm a new decline, the market has to form the descending impulse in the wave [1].




 
RoboForex Analytical Department

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