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Wave Analysis 17.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for August 17th, 2015

EUR USD, “Euro vs US Dollar”

Euro is still forming the ascending zigzag C of (B) of [Y] inside the possible horizontal triangle (B) of [Y]. In the nearest future, the market is expected to continue growing.



Eurodollar has almost broken the critical level (red line on the chart), that’s why the main forecast remains the same so far – after completing the [2] of v of (c) in the form the expanded flat, the market is expected to continue moving upwards inside the wave [3] of v of (c) and reach a new local high.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming the extension in the wave [iii] of C of (2), which may result in a significant growth and new local highs. In the future, the market is expected to continue growing.



The price has finished the wave (i) of [iii] of C and the local correction (ii) of [iii] of C inside the large extension. In the nearest future, the market is expected to continue moving upwards.




USD JPY, “US Dollar vs Japanese Yen”

Yen has finished (or is about to finish) the wave [ii] of 1 of (C) inside the large flat [A] of b. The price is expected to make a significant descending movement during the next several days.



Taking into account that the recent local decline, made by the price after the wave [ii] of 1 of (C), looks like the three, this wave may yet take the form of double zigzag. Nevertheless, most likely the pair will continue falling during the next several days.




USD CAD, “US Dollar vs Canadian Dollar”

Just as we expected, after finishing divergent leading diagonal triangle, the price as formed the wave [ii] of A of (B) in the form of the zigzag, which may be followed by a further decline.



The wave [ii] of A of (C) has taken the form of the ascending zigzag and completed at the level of the wave (iv) of [i] of A. In the nearest future, the pair is expected to form the extension inside the wave [iii] of A of (B) and continue falling.



 
RoboForex Analytical Department

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