Wave Analysis 08.09.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)


Forecast for September 8th, 2015

EUR USD, “Euro vs US Dollar”

The long downward momentum in the wave [iii] of 1 of (C) continues to shape, inside of which the wave (i) of [iii] of 1 came to an end. After the local correction within wave (ii) of [iii] of 1 a further decline in prices is expected.

Probably, the wave (i) of [iii] of 1 ended with truncation inside, and after the end of the rising zigzag in the wave (ii) of [iii] of 1, a further decline in prices is expected.

GBP USD, “Great Britain Pound vs US Dollar”

The wave (i) of [iii] of 1 has completed, and after the local correction within wave (ii) of [iii] of 1, the depreciation of the pair is likely to continue.

Considering the fact that wave i of (i) of [iii] took an elongated shape, the correction in the frames of wave (ii) of [iii] of 1 may be rather deep and end on the level of wave (ii) of [iii] of 1. A short term growth in the pair is expected.

USD JPY, “US Dollar vs Japanese Yen”

The situation for the pair has not changed. The basic forecast assumes growth of pair within wave [iii] of 1 of (3). However, there is an alternative (in gray in the graph), which presupposes a flat plane within the wave (2) of [5], resulting in a local minimum update Y116.13.

The wave [ii] of 1 of (3) can still continue its formation, taking the form of a Double Zigzag. We can speak more confidently about future growth only when the price fixes above the confirmatory level (magenta line on the graph).

USD CAD, “US Dollar vs Canadian Dollar”

The situation in the market remains unchanged. Upon completion of the running triangle within wave [iv] of 3, further growth in the market within wave [v] of 3 is expected.

The internal structure of the latest local growth within wave [v] of 3 is not entirely clear, because it could be a full momentum, or a momentum with the start of a double extension within wave (iii) of [v] of 3.

RoboForex Analytical Department


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.