Wave Analysis 10.11.2015 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)
10.11.2015
Forecast for November 10th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Earlier, the price completed the descending impulse in the wave (i). In the nearest future, the market may finish the wave (ii) inside the extension of the wave [iii]. It’s highly likely that later the pair may continue moving downwards.
More detailed structure is shown on H1 chart. It looks like the wave (ii) is taking the form of the zigzag. On the minor wave level, the pair may form the bullish impulse in the wave c of (ii).
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the price continues forming the bearish impulse in the wave [i]. Earlier, the price finished the wave 2 in the form of the flat. In the nearest future, the market may continue falling in the wave [i] of 3.
More detailed structure of the wave [i] is shown on H1 chart. It looks like Pound is forming the fourth inside it. After finishing the local correction, the pair is expected to resume its decline in the wave (v) of [i].
USD JPY, “US Dollar vs Japanese Yen”
Probably, after completing the wave 4 in the form of the zigzag, Yen has started the ascending impulse in the fifth wave. Probably, right now the market is forming the extension in the wave [iii]. Later, the pair is expected to start a new growth in the wave (iii) of [iii].
At the H1 chart, Yen formed the bullish impulse in the wave (i). After that, the wave (ii) took the form of the double three. In the future, the market may continue growing in the third wave of the extension in the wave (iii).
AUD USD, “Australian Dollar vs US Dollar”
It looks like Australian Dollar is forming the extension of wave [iii] of 5. On the minor wave level, the price is falling in the wave (iii). On Tuesday, the pair may resume its descending movement.
More detailed structure is shown on H1 chart. Probably, the price is about to finish the wave [2] in the wave iii. In the future, the market may start another decline in the wave [3] of iii and break the minimum of the wave [1].
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.