Analysis for July 8th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is forming an
extension inside wave
[iii] of 1 of (C) of a large descending impulse. We should pay particular attention to a possible alternative scenario (colored in gray), which implies that the pair may be forming
horizontal triangle inside wave
(B) of [Y]. However, according to both scenarios the market is expected to continue falling.
The pair is finishing wave
(ii) of [iii] of 1, which may be followed by a fast decline inside wave
(iii) of [iii] of 1 and new local lows.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming another
extension inside wave
[iii] of 1 of (3), which may result in a significant decline of the pair. At the same time, an alternative scenario implies that the market has just now completed the first impulse,
[i] of 1 of (3), which may be followed by a local ascending correction inside wave
[ii] of 1 of (3).
Probably, the pair is about to finish wave
i of (iii) of [iii], which may be followed by an ascending movement inside wave
ii of (iii) of [iii] and a further decline.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues testing its local lows and
extending wave
2 of (5) of [5]. Right now, Yen is being corrected in the form of
double zigzag, but wave
(c) of [y] of 2, probably, is taking the form of
ending diagonal triangle.
Probably, Yen is finishing wave
iii of (c) of [y] inside
ending diagonal triangle(c) of [y] of 2. In the future, the pair is expected to test its lows and then start a fast growth inside wave
3 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
Most likely, Canadian Dollar has finished wave
i of (iii) of [v] of a large ascending impulse and right now is expected to start a correction inside wave
ii of (iii) of [v]. After that, the market may continue growing.
Wave
[5] of i of (iii) has turned out to be longer than we expected. Right now, the price is being corrected inside wave
ii of (iii) of [v], which may be followed by a new growth.
RoboForex Analytical Department