Analysis for August 25th, 2015
Eurodollar continues forming the “leg” [c] of Y of (B) of the double zigzag in the wave (B) of [Y]. In the future, the market is expected to continue growing.
EUR USD, “Euro vs US Dollar”
Probably, the pair has just finished the wave iii of (c) of [y]. After completing the wave iv of (c) of [y], the market is expected to continue moving upwards.
GBP USD, “Great Britain Pound vs US Dollar”Pound isn’t moving upwards as fast as other USD currency pairs. Nevertheless, the forecast remains the same: in the future, the market is expected to continue growing in the wave [iii] of C of (2) and reach new local highs.
The pair is forming the sideways wave iv of (iii) of [iii] inside the extension of the larger ascending impulse. After finishing this wave, the market is expected to continue moving upwards.
USD JPY, “US Dollar vs Japanese Yen”A fast decline has once again confirmed the expanded flat in the wave [A] of b of the flat pattern from major timeframes. So, in the nearest future the price is expected to complete the wave 3 of (C) of [A] and the start another local correction.
Yen has finished the wave [iv] of 3 of (C), which may be followed by a fast decline, a new local low, and completion of the wave [v] of 3 of (C).
USD CAD, “US Dollar vs Canadian Dollar”The pair is growing despite the fact the currency market is moving against the US Dollar. Nevertheless, the price is about to finish the wave [v] of 5 of (A) and then start a large descending correction.
In order to complete the wave [v] of 5 of (A), the pair must make one more ascending movement, probably today. Nevertheless, there is an alternative scenario (colored in gray) with the extension in the wave (iii) of [v] of 5. This scenario may become the main one if the price continues growing very fast.
RoboForex Analytical Department
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