Wave Analysis 06.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
06.07.2015
Analysis for July 6th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is extending a descending impulse inside wave [iii] of 1 of (C). Later, the market is expected to continue moving downwards.
Most likely, the pair has finished i-ii pattern of a large descending impulse inside wave (iii) of [iii] of 1. Later, the market is expected to continue falling.
GBP USD, “Great Britain Pound vs US Dollar”
Similar to Euro, Pound is extending an impulse inside wave [iii] of 1 of (3). Later, the market is expected to continue falling.
Most likely, the pair is extending wave (iii) of [iii] of 1. In the nearest future, the market is expected to reach a new local low.
USD JPY, “US Dollar vs Japanese Yen”
Yen has just finished wave 2 of (5) of [5] in the form of double zigzag. Later, the pair is expected to start growing inside wave 3 of (5) of [5].
After a gap inside wave (c) of [y] of 2, the price has formed the first ascending impulse inside wave 3 of (5) of [5]. In the future, the market is expected to continue moving upwards.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues forming wave i of (iii) of [v], which may be followed by a short-term correction inside wave ii of (iii) of [v].
Probably, after finishing wave [4] of i of (iii), the pair may reach a new local high and grow inside wave 5 of i of (iii).
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.