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Wave Analysis 28.12.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for December 28th, 2016

EUR USD, “Euro vs US Dollar”

Probably, the EUR/USD pair is still being corrected. It’s highly likely that in the nearest future the market may finish the wave [ii] and resume falling in the third wave towards the local low.



More detailed structure is shown on the M30 chart. Probably, the pair is forming the double three in the wave (b) of [ii]. As a result, later the market may start a short-term growth in the wave (c) of [ii].




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is forming the fifth wave in the descending impulse [v]. Consequently, during the next several days the market is expected to continue moving downwards and reach new lows.



As we can see at the H1 chart, yesterday the pair completed the fourth wave in the form of the zigzag and started forming the descending impulse in the wave i. In the nearest future, the correction may take place, but later the market is expected to resume moving downwards in the wave iii of (v).




USD JPY, “US Dollar vs Japanese Yen”

It looks like the USD/JPY pair is still forming the ascending impulse in the wave c of (y). Consequently, in the nearest future the market may break the local high. However, later the price may start a new bearish correction and form the descending wave i or a.



More detailed structure is shown on the H1 chart. Probably, the pair completed the wave [4] of the bullish impulse c. As a result, in the nearest future the market may resume growing and break the high of the wave [3] of c.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair may yet continue forming the descending extension in the wave (iii). Consequently, after finishing the local correction, the pair may resume moving downwards in the wave iii.



As we can see at the H1 chart, in the nearest future the pair may continue forming the wave [2], which may later be followed by another decline in the wave [3]. As a result, the market may break the low of the wave [1] of iii soon.



 
RoboForex Analytical Department

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