Article By RoboForex.com
Analysis for August 6th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming extensions inside wave [iii] of 1 of (C). Probably, the pair has already finished wave i of (iii) of [iii], and after a short-term correction, it may continue falling.
Wave i of (iii) of [iii] was completed with the truncation inside the fifth wave. Probably, wave ii of (iii) of [iii] was also finished and took the form of an ascending zigzag. In the nearest future, the price is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues moving sideways without any significant declines. The main scenario remains the same – after finishing the correction [ii] of 1 of (3) in the form of an ascending zigzag, the market is expected to continue falling.
After forming two leading diagonal triangles inside first waves in a row, the price has finished wave [2] of iii of (i) in the form of expanded flat. In the nearest future, the price is expected to start a significant decline inside wave [3] of iii of (i).
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USD JPY, “US Dollar vs Japanese Yen”
Just as we expected, Yen has started moving upwards inside wave [iii] of 3 of (5). In the future, the market is expected to continue growing to break 127.00 upwards.
The pair is finishing wave [4] of iii of (iii) inside a large ascending impulse, which may be followed by a growth inside wave [5] of iii of (iii) and a new local high.
USD CAD, “US Dollar vs Canadian Dollar”
Just as we expected, the correction ii of (v) of [v] has reached the level of wave [4] of i of (v) and may be followed by a new growth inside wave iii of (v) of [v].
Most likely, the market is about to complete the local correction (2) of [1] of iii, which may be followed by a fast growth inside wave (3) of [1] of iii and a new local high.
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.
