Article By RoboForex.com
Forecast for October 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming the descending impulse in the wave [iii] of 1 of (C). Right now, the pair is completing the wave i of (i) of [iii] of the large extension.
Most likely, the price is finishing the wave iii of (i) of [iii], which may be followed by the sideways correctioniv of (iii) of [iii] and the final ascending movement in the wave v of (i) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the correction ii of (iii) of [iii], the price continues moving inside the downtrend. In the nearest future the market is expected to continue falling.
So, Pound continues falling in the wave [1] of iii of (iii). In the nearest future, the market is expected to continue moving downwards.
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USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has completed the wave i of (i) of [iii], which may be followed by the short-term local correction ii of (i) of [iii] and a further growth in the wave iii of (i) of [iii].
Yen has completed the first impulse of the large descending movement, with the extended first wave inside it, which happens quite seldom. Probably, in the nearest future the market may form the short-term descending zigzag ii of (i) of [iii], which may be finished at the level of the wave [2] of i of (i).
USD CAD, “US Dollar vs Canadian Dollar”
Most likely, Canadian Dollar has finished the expanded flat (ii) of [a] of 4 and in the nearest future may start forming first descending impulses of the larger descending movement. At the same time, if the price continues growing, we’ll have to change the current chart structure.
The pair has completed the wave с of (ii) of [a] in the form of the expanded flat and in the nearest future may start moving downwards. At the same time, if the market continues moving upwards, we’ll have to change the current chart structure.
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.
