Article By RoboForex.com
Analysis for August 19th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving inside the narrow trading range, giving us 2 or 3 possible scenarios. I’m still holding to the one, where the pair is forming the wave C of (B) of [Y] inside the possible horizontal triangle (B) of [Y].
Probably, the price is about to complete the wave (b) of [y] of C, which is taking the form of the descendingzigzag. In the nearest future, the pair is expected to move upwards and finish the correctional wave C of (B) of [Y].
GBP USD, “Great Britain Pound vs US Dollar”
The fast growth made by Pound yesterday confirms the main scenario. Probably, the market is extending the wave [iii] of C of (2). In the future, the market is expected to continue growing.
Most likely, the pair has completed the wave (ii) of [iii] of C, which may be followed by a fast growth inside the wave (iii) of [iii] of C.
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USD JPY, “US Dollar vs Japanese Yen”
The situation is changing very slowly. The price is expected to continue falling and forming the large descending impulse [iii] of 1 of (C).
Probably, the wave [ii] of 1 of (C) has taken the form of the more complicated pattern (zigzag + triangle), which may be followed by a new decline.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is falling slowly inside the wave [iii] of A of (B). In the nearest future, the market is expected to continue moving downwards.
Probably, the pair is extending the wave iii of (i) of [iii]. In the nearest future, the price is expected to continue falling inside the wave (i) of [iii] of A and reach new local lows.
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.
