Forecast for October 23rd, 2015
EUR USD, “Euro vs US Dollar”
Just as we expected, after finishing the correction
ii of (i) of [iii], the price has started falling fast in the wave
iii of (i) of [iii]. Probably, in the nearest future the market may continue moving downwards.
The price is forming a classic wave,
iii of (i) of [iii], which hasn’t been completed yet. In the nearest future, the market is expected to finish this wave, form the horizontal correction
iv of (iii) of [iii], and then complete the entire impulse
(i) of [iii] of 1.
GBP USD, “Great Britain Pound vs US Dollar”
Unlike Eurodollar, the situation isn’t changing. The main scenario remains the same – in the nearest future, the market Pound is expected to move downwards and form the wave
iii of (iii) of [iii].
Pound has almost reached the critical level, but hasn’t broken it. In the nearest future, the market is expected to continue falling in the wave
(3) of [1] of iii.
USD JPY, “US Dollar vs Japanese Yen”
The price has chosen an alternative scenario. So, after forming the
double zigzag(2) of [5], Yen has completed the first ascending wave
[i] of 1 of (3) and the long correction
[ii] of 1 of (3) in the form of the
double zigzag. Later, the pair is expected to continue moving upwards.
It looks like Yen has completed a classic
extension in the ascending impulse
[iii] of 1 of (3). Most likely, in the nearest future the pair may continue growing.
USD CAD, “US Dollar vs Canadian Dollar”
The correction
(ii) of [a] of 4 in the form of the
expanded flat continues. In the nearest future, the market is expected to complete the correction and start falling in the wave
(iii) of [a] of 4.
The pair continues forming the wave
[4] of с of (ii), which has almost reached the top of the wave
[1] of с of (ii). The market is expected to move upwards for a while and then complete the entire correctional pattern in the wave
(ii) of [a] of 4. An alternative scenario (colored in gray) implies that this wave has already been finished.
RoboForex Analytical Department