Wave Analysis 12.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for August 12^th, 2015

EUR USD, “Euro vs US Dollar”

Despite the fact that the situation is still quite complicated, the forecast remains the same: in the nearest future, the market is expected to start a significant decline inside a large descending wave iii of (iii) of [iii].



Double zigzag inside wave ii of (iii) of [iii] has transformed a little bit, but the main scenario is still the same – Eurodollar is expected to start a long descending movement inside wave iii of (iii) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

Just as we expected, the price has finished wave [i] of C of (2). After completing a short-term correction [ii] of C of (2), the pair may continue growing.



The short-term correction inside wave [ii] of C of (2) is taking the form of a descending zigzag, which may be followed by a new growth inside wave [iii] of C of (2).

USD JPY, “US Dollar vs Japanese Yen”

Yen continues reaching new local highs inside wave (iii) of [iii] of 3. In the future, the price is expected to continue growing.



The wave structure of this part of the chart is quite complicated. Nevertheless, probably the pair has finished wave i of (iii) of [iii] and the short-term correction ii of (ii) of [iii]. In the future, the market may continue growing.

USD CAD, “US Dollar vs Canadian Dollar”

After completing the local correction ii of (v) of [v], Canadian Dollar has started growing inside a large ascending impulse iii of (v) of [v]. Later, the market is expected to continue moving upwards.



Probably, the market is forming extensions inside wave iii of (v) of [v]. After forming another 1-2 pattern, the market is expected to start a significant growth and reach new multiyear highs.



 
RoboForex Analytical Department