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Wave Analysis 18.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for August 18th, 2015

EUR USD, “Euro vs US Dollar”

I’m still holding to the scenario where Euro is forming the double 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.



After completing the impulse (a) of [y] of C, the price is forming the correction (b) of [y] of C with leading diagonal triangle a of (b) of [y] inside it. However, this scenario has a weak spot: the fourth wave in the wave iii of (a) of [y] is higher than the first one. This type of anomaly may occur on the markets with high leverage and it is usually limited to intraday movement.




GBP USD, “Great Britain Pound vs US Dollar”

Obviously, Pound has just finished the wave [iii] of C of (2), which has taken the form of the expanded flat. In the future, the market is expected to start a significant growth.



The wave [ii] of C of (2) has taken the form the expanded flat with the double zigzag (b) of [ii] of C inside it. In the nearest future, the market is expected to continue moving upwards inside the wave [iii] of C of (2).




USD JPY, “US Dollar vs Japanese Yen”

The situation hasn’t changed much over the last 24 hours. The price is expected to start falling and forming the wave [iii] of 1 of (C).



Most likely, the wave [ii] of 1 of (C) has taken the form of the double three, which may be followed by a significant decline in the wave [iii] of 1 of (C).




USD CAD, “US Dollar vs Canadian Dollar”

After finishing the local correction [ii] of A of (B), the market is expected to start a significant decline in the wave [iii] of A of (B).



Probably, Canadian Dollar has finished the waves i of (i) of [iii] and ii of (i) of [iii], which may be followed by a significant
decline in the wave iii of (i) of [iii].



 
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