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Wave Analysis 24.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for August 24th, 2015

EUR USD, “Euro vs US Dollar”

Considering how strong the current growth is, I’ve decided to turn to the alternative scenario with the double zigzag in the wave (B) of [Y]. Right now, the pair is forming the wave [c] of Y of (B). in the future, the market is expected to continue growing.



We can see extensions in the impulse [c] of Y of (B). in the nearest future, the market is expected to finish the wave [5] of iii of (iii). After the local pullback, the pair is expected to continue moving upwards.




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the situation isn’t changing much. In the future, the market is expected to continue growing fast in the wave [iii] of C of (2) and reach new local highs.



The pair has completed the third initial ascending impulse inside the large ascending impulse, which means that it might be a significant extension. At the same time, there is an alternative scenario (colored in gray), according to which the pair has formed the leading diagonal triangle [i] of C of (2). But even in this case, the market is expected to continue moving upwards after completing the local correction.




USD JPY, “US Dollar vs Japanese Yen”

Yen continues falling fast in the wave [iii] of 1 of (C). In the nearest future, the price is expected to complete this wave and start a sideways correction in the wave [iv] of 1 of (C).



In the nearest future, the pair may finish the wave (iii) of [iii] of 1, and then, after completing the local correction (iv) of [iii] of 1, it may reach a new local low in the wave (v) of [iii] of 1.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has chosen the alternative scenario. The pair has formed the running triangle [iv] of 5 of (A) and then started forming the wave [v] of 5 of (A). In the nearest future, the price is expected to complete the five-wave structure in the wave [v] of 5 of (A).



The pair has formed the wave (i) and the sideways correction (ii) of [v] of A in the wave [v] of 5 of (A). In the future, the price is expected to grow and finish the wave [v] of 5 of (A).



 
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