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Wave Analysis 01.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for July 1st, 2015

EUR USD, “Euro vs US Dollar”

After quite a deep (more than 61.8% from wave [i]) correction inside wave [ii] of 1 of (C), Eurodollar has started forming a new descending impulse inside wave [iii] of 1 of (C). At the same time, wave (B) of [Y] can be described as horizontal triangle (colored in gray). The future price movement will make the situation clearer.



In the nearest future, the pair may fall inside wave [iii] of 1 of (C) and reach new local lows.




GBP USD, “Great Britain Pound vs US Dollar”

The situation almost isn’t changing. Probably, after completing zigzag inside wave [ii] of 1 of (3), Pound has started a large descending impulse inside wave [iii] of 1 of (3).



The price almost isn’t moving, but the main scenario remains the same: the market is expected to continue moving downwards inside wave [iii] of 1 of (3).




USD JPY, “US Dollar vs Japanese Yen”

Yen has reached a new local low and changed wave [b] of 2 of (5) which has taken the form of double three. The pair is expected to move upwards and form wave 3 of (5) of [5].



After reaching a new local low, the market is expected to start a new ascending movement inside wave 3 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is still forming wave (iii) of [v] of 3, just as we expected. In the future, the pair may continue moving upwards.



The price continues reaching new local highs inside wave i of (iii) of [v] and may continue growing in the future.



 
RoboForex Analytical Department
 

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