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Wave Analysis 03.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for July 3rd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still forming a descending impulse inside wave [iii] of 1 of (C). The pair has already finished the first five-wave descending structure of this impulse. Later, the market is expected to continue moving downwards

So, the pair has finished wave (i) of [iii] of 1 and the short-term correction inside wave (ii) of [iii] of 1, which may be followed by a further decline.

GBP USD, “Great Britain Pound vs US Dollar”

It looks like Pound continues forming wave [iii] of 1 of (3). The price has finished only the first five-wave descending structure. Later, the market is expected to continue falling.

Most likely, the price hasn’t completed wave (ii) of [iii] of 1 yet. In the nearest future, the market is expected to finish it and, after a local correction, the price may continue moving downwards.

USD JPY, “US Dollar vs Japanese Yen”

Yen has finished the first five-wave ascending structure inside wave 3 of (5) of [5]. Later, the pair is expected to continue its significant growth.

Yen has completed wave (i) of [i] of 3 and then a descending correction inside wave (ii) of [i] of 3 in the form of zigzag. After that, the market is expected to continue moving upwards.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues moving upwards. Most likely, in the nearest future, the pair may complete wave i of (iii) of [v] and the correction inside wave ii of (iii) of [v]. Later, the market is expected to continue growing.

Probably, the price has finished the correction inside wave [4] of i of (iii) and in the nearest future may reach a new local high and complete the whole impulse inside wave i of (iii) of [v].

RoboForex Analytical Department

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