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Wave Analysis 09.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for July 9th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is finishing a local correction inside a large descending impulse [iii] of 1 of (C). Later, the market is expected to continue falling.

Probably, the pair has completed the correction inside wave (ii) of [iii] of 1, which may be followed by a decline inside wave (iii) of [iii] of 1 and new local lows.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still extending a descending impulse [iii] of 1 of (3). Right now, the price is finishing wave (iii) of [iii] of 1, which may be followed by a short-term correction and a further decline.

Probably, the pair has finished wave (iii) of [iii] of 1, which may be followed by a sideways correction inside wave (iv) of [iii] of 1.

USD JPY, “US Dollar vs Japanese Yen”

Chins stocks have tumbled, thus influencing Yen as well. The pair is moving downwards very fast inside wave 2 of (5) of [5]. After completing this wave, the market is expected to continue growing.

So, Yen is about to complete wave iii of (c) of [y] inside wave (c) of [y] of 2, which is taking the form of a descending impulse. In the future, the pair is expected to form a short-term correction inside wave iv of (c) of [y].

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues forming the correction inside wave ii of (iii) of [v]. After that, the market may continue growing.

Probably, the pair is about to finish wave ii of (iii) of [v] in the form of double zigzag. After the correction, the price is expected to continue growing inside wave iii of (iii) of [v].

RoboForex Analytical Department

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