Analysis for August 4th, 2015
EUR USD, “Euro vs US Dollar”
The situation hasn’t changed much. In the nearest future, the market is expected to continue falling inside wave
(iii) of [iii] of 1.
Probably, the pair has formed a very short wave
ii of (iii) of [iii] and then started forming an
extension inside wave
iii of (iii) of [iii]. Later, the price is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the situation hasn’t changed much as well. In the nearest future, the market is expected to continue falling and forming wave
[iii] of 1 of (3). Also, we shouldn’t forget about an alternative scenario, which suggests that the price may be still forming wave
[ii] of 1 of (3) with
horizontal triangle (b) of [ii] of 1 inside it.
The price is moving below the critical level and in the nearest future is expected to continue falling inside wave
iii of (i) of [iii].
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a local pullback, but is still moving above the critical level. In the nearest future, the market is expected to grow inside wave
(iii) of [iii] of 3.
Probably, it’s only now that the pair has finished wave
i of (iii) of [iii] and the local correction
ii of (iii) of [iii]. In the nearest future, the market is expected to continue growing.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues moving upwards and reaching new highs. Probably, in the nearest future, the market may continue growing inside wave
iii of (v) of [v].
Most likely, the market is forming an
extension in wave
iii of (v) of [v] with wave
[1] of iii of (v) inside it. After finishing the local correction inside wave
[2] of iii of (v), the price is expected to continue moving upwards.
RoboForex Analytical Department