Analysis for August 26th, 2015
The depth of the current correction suggests that Eurodollar has finished the wave (iv) of [c] of Y and right now is forming the final impulse inside the wave (v) of [c] of Y.
EUR USD, “Euro vs US Dollar”
After completing the correction (iv) of [c] of Y, Eurodollar has formed the first five-wave structure i of (v) of [c] and the local correction ii of (v) of [c]. In the nearest future, the market is expected to resume moving upwards and reach a new local high in the wave iii of (v) of [c].
GBP USD, “Great Britain Pound vs US Dollar”Probably, Pound has formed three first waves inside the large extension in the wave C of (2) of . In the nearest future, the market is expected to continue growing.
After finishing another ascending impulse, the pair has formed the local correction ii of (iii) of [iii]. Probably, in the nearest future the market may continue moving upwards and reach new local highs.
USD JPY, “US Dollar vs Japanese Yen”Probably, Yen has completed the wave 4 of (C) of [A]. After finishing the local correction, the pair is expected to form another large five-wave descending structure in the wave 5 of (C) of [A].
After finishing the wave 4 of (C) of [A] in the form the double zigzag, Yen has formed the first five-wave descending structure [i] of 5 of (C) and the local correction [ii] of 5 of (C). Later, the pair is expected to continue falling.
USD CAD, “US Dollar vs Canadian Dollar”Despite a significant “drawdown” of the US Dollar against other currencies, the pair is still growing and strengthening the USD. Most likely, the price has formed the extension in the wave [v] of 5 of (A) and may continue moving upwards.
Most likely, the pair has just finished the extension in the wave (iii) of [v] of 5. After completing the local correction ii of (iii) of [v], the price may continue growing.
RoboForex Analytical Department
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