Analysis for July 10th, 2015
The situation hasn’t changed much over the last 24 hours. Eurodollar is finishing a local correction inside a large descending impulse [iii] of 1 of (C). Later, the market is expected to continue falling.
EUR USD, “Euro vs US Dollar”
Probably, the pair completed wave (ii) of [iii] of 1 and then formed i-ii pattern inside wave (iii) of [iii] of 1. Later, the price is expected to resume moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”Pound is still falling inside a descending impulse [iii] of 1 of (3). After finishing the current horizontal correction, the price is expected to continue falling.
The pair is about to finish wave (iv) of [iii] of 1, which may be followed by another descending movement inside wave (v) of [iii] of 1 and new local lows.
USD JPY, “US Dollar vs Japanese Yen”Probably, Yen has completed wave 2 of (5) of  in the form of double zigzag, which may be followed by an ascending wave 3 of (5) of .
After finishing a correctional wave 2 of (5) of , the pair has formed wave (i) of [i] of 3. Most likely, in the nearest future the market may continue growing inside wave (iii) of [i] of 3.
USD CAD, “US Dollar vs Canadian Dollar”The chart structure has become more bullish. Probably, Canadian Dollar has finished the horizontal correction iv of (iii) of [v] inside wave (iii) of [v] of 3. After that, the market may continue growing and form wave v of (iii) of [v].
Probably, the pair has finished the correction inside wave iv of (iii) of [v], which may be followed by a new local high and a further growth inside wave v of (iii) of [v].
RoboForex Analytical Department
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