Analysis for August 27th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected in the wave
(iv) of [y] of C, which is taking the form of the
double zigzag. In the nearest future, the market is expected to complete this pattern and start growing in the wave
(v) of [y] of C.
To complete the correctional wave
(iv) of [y] of C, Eurodollar needs another impulse, which may be formed in the nearest future. After this correction, the pair is expected to start growing in the wave
(v) of [y] of C and complete the correction
(B) of [Y], which is taking the form of the
double zigzag.
GBP USD, “Great Britain Pound vs US Dollar”
I’ve turned to the scenario, according to which the wave
(2) of [3] has taken the form of the ascending
zigzag, and the price has formed the first wave
[i] of 1 of (1) and the correction
[ii] of 1 of (1) in the form of the ascending
zigzag inside the large descending impulse
[3]. In the nearest future, the market is expected to finish the wave
(i) of [iii] of 1 and start a new local correction.
After finishing the local correction
iv of (i) of [iii], the pair is expected to reach a new local low and fall in the wave
v of (i) of [iii].
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is still forming the wave
4 of (C) of [A]. After reaching a new local high, the pair is expected to start falling in the wave
5 of (C) of [A].
Most likely, the wave
[c] of 4 of (C) is taking the form the
ending diagonal triangle: to complete this wave, Yen has to form the fifth wave and reach a new high. In the nearest future, the market is expected to finish the correction and start falling in the wave
5 of (C) of [A].
USD CAD, “US Dollar vs Canadian Dollar”
The pair is still moving inside the uptrend, and probably is forming extensions in the wave
(iii) of [v] of 5. After completing the local correction, the price may continue moving upwards.
In the nearest future, the market is expected to finish the correction
ii of (iii) of [v] and start growing in the wave
iii of (iii) of [v].
RoboForex Analytical Department