Article By RoboForex.com
Forecast for September, 2015
EUR USD, “Euro vs US Dollar”
On the weekly chart, probably, Eurodollar is forming the wave (C) of [Y] of the double zigzag [W]-[X]-[Y]. After the correctional wave (B) of [Y], the price has formed first descending impulses in the wave (C) of [Y]. In the future, the market is expected to start a significant decline.
Probably, the wave (B) of [Y] has been completed in the form of the ascending double zigzag with the double three X of (B) of [Y]. After the local correction [ii] of 1 of (C), the market is expected to continue falling.
GBP USD, “Great Britain Pound vs US Dollar”
On the weekly chart, probably, Pound is extending the wave [3] of a in the large five-wave descending pattern. After finishing the wave (2) of [3], the price is expected to continue moving downwards.
Probably, the pair has finally completed the wave [ii] of 1 of (3), which is longer and more complicated than the wave [i] of 1 of (3). In September, Pound is expected to continue falling and form the wave [iii] of 1 of (3).
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USD JPY, “US Dollar vs Japanese Yen”
On the weekly chart, Yen is extending the wave [5] of a in the large five-wave ascending pattern. Most likely, this month the pair may continue growing and reach new local highs. Taking into account rules and proportions of the wave theory, this growth may reach at least Y130.0.
Probably, the price has finished the wave (2) of [5] in the form of the double zigzag. In September, the market is expected to start a significant growth in the wave (3) of [5] and reach new local highs.
USD CAD, “US Dollar vs Canadian Dollar”
On the weekly chart, Canadian Dollar is forming the wave (C) of [Y] inside the ascending double zigzag. Most likely, the pair is going to continue growing and, after finishing the wave [v] of 3 of (C), form the local correctional flat in the wave 4 of (C) of [Y].
As we can see at the daily chart, the situation is quite unclear. In theory, the wave [v] of 3 of (C) has been completed and the pair may start a pullback at any moment. However, taking into account the dynamics on the adjacent markets, we may assume that the price may continue growing and extend the wave (v) of [v] of 3.
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.
