Analysis for August 14th, 2015
I’m still holding to the scenario where the price is forming zigzag C of (B) of [Y] inside the correctional wave (B) of [Y]. At the same time, we shouldn’t forget about an alternative scenario with double zigzag, which may push the price towards 1.25 during the next several months. The market is expected to continue growing.
EUR USD, “Euro vs US Dollar”
Eurodollar is starting the wave v of (c) of [y] in the impulse (c) of [y]. Later, the market is expected to continue moving upwards and reach a new local high.
GBP USD, “Great Britain Pound vs US Dollar”After finishing running triangle in the wave B of (2) of , Pound has formed the wave [i] of C of (2) and the local correction [ii] of C of (2) in the large ascending impulse C of (2) of . In the nearest future, the market is expected to continue growing.
Probably, the price has just finished the wave [i] of C of (2) and the correction [ii] of C of (2) in the form of zigzag. In the nearest future, the market is expected to move upwards and form the wave [iii] of C of (2).
USD JPY, “US Dollar vs Japanese Yen”I’m still holding to the scenario where Yen is forming the large flat [A] of b with the large five-wave descending structure (C) of [A] of b inside it. In the nearest future, the price is expected to continue falling.
Most likely, the pair has finished the wave [ii] of 1 of (C), which may be followed by a new decline and a new local low during the day.
USD CAD, “US Dollar vs Canadian Dollar”I’m still holding to the scenario where Canadian Dollar is forming the large descending correction (B) of [Y] the form of which isn’t quite clear yet. The price has already finished the first five-wave descending structure (in the form of divergent leading diagonal triangle, or wedge) of this correction, which may be followed by the local correction [ii] of A of (B) and a further decline.
The market continues forming the local correction [ii] of A of (C), which may be followed by a further decline.
RoboForex Analytical Department
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