Article By RoboForex.com
Analysis for July 31st, 2015
EUR USD, “Euro vs US Dollar”
Right now, Eurodollar is forming the first five-wave structure (i) of [iii] of 1 of a larger descending impulse. After a short-term correction inside wave (ii) of [iii] of 1, the market is expected to continue moving downwards.
The pair is forming a sideways correction inside wave iv of (i) of [iii], which may be followed by a short-term decline inside wave v of (i) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”
Pound is falling slowly and forming the first impulse of a larger descending impulse [iii] of 1 of (3). In the future, the price is expected to continue falling.
Probably, the pair is forming leading diagonal triangle inside wave i of (i) of [iii]. In the future, the market is expected to reach a new local low.
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USD JPY, “US Dollar vs Japanese Yen”
Yen is slowly growing and finishing wave (i) of [iii] of 3, which may be followed by a short-term correction inside wave (ii) of [iii] of 3.
After completing wave iv of (i) of [iii], the pair is expected to move upwards inside wave v of (i) of [iii], the price is expected to complete the first five-wave structure of a larger ascending impulse.
USD CAD, “US Dollar vs Canadian Dollar”
In the nearest future, Canadian Dollar may complete the first five-wave ascending structure of a lager ascending impulse (v) of [v] of 3. In the mid-term, the pair may continue moving upwards.
In the nearest future, the market is expected to reach a new local high and complete wave i of (v) of [v], which may be followed by a short-term correction.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
