Article By RoboForex.com
Analysis for August 4th, 2015
EUR USD, “Euro vs US Dollar”
The situation hasn’t changed much. In the nearest future, the market is expected to continue falling inside wave (iii) of [iii] of 1.
Probably, the pair has formed a very short wave ii of (iii) of [iii] and then started forming an extension inside wave iii of (iii) of [iii]. Later, the price is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the situation hasn’t changed much as well. In the nearest future, the market is expected to continue falling and forming wave [iii] of 1 of (3). Also, we shouldn’t forget about an alternative scenario, which suggests that the price may be still forming wave [ii] of 1 of (3) with horizontal triangle (b) of [ii] of 1inside it.
The price is moving below the critical level and in the nearest future is expected to continue falling inside wave iii of (i) of [iii].
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USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a local pullback, but is still moving above the critical level. In the nearest future, the market is expected to grow inside wave (iii) of [iii] of 3.
Probably, it’s only now that the pair has finished wave i of (iii) of [iii] and the local correction ii of (iii) of [iii]. In the nearest future, the market is expected to continue growing.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues moving upwards and reaching new highs. Probably, in the nearest future, the market may continue growing inside wave iii of (v) of [v].
Most likely, the market is forming an extension in wave iii of (v) of [v] with wave [1] of iii of (v) inside it. After finishing the local correction inside wave [2] of iii of (v), the price is expected to continue moving upwards.
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.
