Forecast for December 14th, 2016
After completing the wave 2, the EUR/USD pair formed the descending impulse in the wave [i]. Right now, the price is being corrected. It looks like in the nearest future the market may complete the wave [ii] and start falling in the wave [iii] of 3.
EUR USD, “Euro vs US Dollar”
More detailed structure is shown on the M30 chart. Probably, the pair completed the wave the wave (b) in the form of the triangle. As a result, after finishing the wave (c) of [ii], the market may resume falling and form the descending impulse in the wave (i).
In case of the GBP/USD pair, the chart structure remains the same. It’s highly likely that the price completed the double three in the wave [iv] and then formed the descending wave (i). Consequently, in the nearest future the market may start a new decline and break local lows.
GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H1 chart, the pair completed the wave (i) in the form of the wedge along with the wave (ii) in the form of the double zigzag. On a shorter timeframe, the price is finishing the wave ii, which may be followed by a new decline in the wave iii of (iii).
Probably, the USD/JPY pair completed the ascending 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.
USD JPY, “US Dollar vs Japanese Yen”
As we can see at the H1 chart, after finishing the wave  of c, the pair completed the descending impulse in the wave . On Wednesday, the local correction may take place, which may be followed by another bearish impulse in the wave .
At the H4 chart, after finishing the bearish impulse in the wave (i), the AUD/USD pair is about to complete the wave (ii). Probably, after finishing the ascending wave c, the market may start falling in the wave (iii).
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H1 chart, the pair is probably forming the diagonal triangle in the wave c of (ii). In the nearest future, the market may test the pattern’s upside border. In case the price rebounds from it, the pair may start moving downwards in the wave .
RoboForex Analytical Department
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