Article By RoboForex.com
Forecast for September 4th, 2015
EUR USD, “Euro vs US Dollar”
Just as we expected, Eurodollar continues falling in the large descending impulse in the wave [iii] of 1 of (C).In the nearest future, the market is expected to continue moving downwards.
Most likely, the pair is forming the wave (i) of [iii[ of 1 in the extended wave [iii] of 1 of (C). later, the price is expected to form the local correction (ii) of [iii] of 1.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound has just finished the impulse (i) of [iii] of 1, which may be followed by the ascending correction (ii) of [iii] of 1.
Pound is moving very slowly and without any serious pullback, which means that the pair has only completed the wave (i) of [iii] of 1 with the extended wave i of (i) of [iii] inside it. In the nearest future, the market is expected to form the ascending correction (ii) of [iii] of 1.
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USD JPY, “US Dollar vs Japanese Yen”
I’ve changed the chart structure a bit, assuming that after the local low the pair has formed only the impulse[i] of 1 of (3). At the moment, the price is being corrected in the wave [ii] of 1 of (3), which may be followed by a further growth. At the same time, there is an alternative scenario, according to which the wave(2) of [5] is taking the form not of the double zigzag (like right now), but of the flat, which implies a new local low at Y116.13. Despite this, the mid-term forecast remains the same – Yen is expected to continue growing in the wave (3) of [5].
It looks like the price is finishing the wave [ii] of 1 of (3), which may be followed by a significant growth in the wave [iii] of 1 of (3).
USD CAD, “US Dollar vs Canadian Dollar”
The sideways movement of the price with quite fast downside pullbacks have force me to change the chart structure a bit – probably, the pair has just finished the wave [iv] of 3 in the form of the running triangle. In the nearest future, the pair is expected to move upwards in the wave [v] of 3.
Most likely, the pair has finished the descending zigzag (e) of [iv] of 3 and first impulses in the large ascending wave [v] of 3. In the future, the market may continue growing.
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.
