Analysis for August 11th, 2015
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the situation is still quite complicated, as the price continues moving inside a narrow trading range. It is obvious that the pair has completed the local correction and in the nearest future is expected to continue falling inside wave
iii of (iii) of [iii].
Wave
ii of (iii) of [iii] has taken the form of
double zigzag with
ending diagonal triangle(C) of [W] of ii inside it. In the nearest future, the market is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
A fast growth of the price forced me to turn to the alternative scenario, according to which wave
(2) of [3] is taking the form of an ascending
zigzag with
running triangleB of (2) inside it. In the nearest future, the market is expected to continue growing.
After finishing wave
[e] of B of (2), the price has started forming the first five-wave ascending structure inside a large impulse
C of (2) of [3]. In the nearest future, the market is expected to complete wave
(iv) of [i] of C and start growing inside wave
(v) of [i] of C.
USD JPY, “US Dollar vs Japanese Yen”
Yen is slowly growing inside wave
(iii) of [iii] of 3. After finishing another local correction, the price is expected to continue growing.
Probably, the pair is about to finish wave
i of (iii) of [iii]. After finishing the local correction
ii of (ii) of [iii], the market may continue moving upwards.
USD CAD, “US Dollar vs Canadian Dollar”
Most likely, Canadian Dollar has just completed wave
ii of (v) of [v], and right now, the market is starting a new growth inside wave
iii of (v) of [v]. Later, the market is expected to continue growing.
The market finished the correction
ii of (v) of [v] in the form of
double zigzag and then formed the first five-wave ascending structure inside impulse
iii of (v) of [v].
RoboForex Analytical Department