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Wave analysis EUR/USD, GBP/USD, USD/JPY and USD/CAD for 16.07.2015

The EUR/USD pair

Wave analysis EUR/USD for 16.07.2015

Given the large number of possible first waves of a beginning of a big first downward impulse, I decided to move to an alternative layout without changing the prognosis for the pair. So, probably, in the wave (B) of [Y] we got the horizontal Triangle, after which a large downward momentum below $ 1,000 is expected, in which we got the top five [i] of 1 of (C), as well as the beginning of elongation within wave [iii] of 1 of (C).



Wave analysis EUR/USD for 16.07.2015

Nearing is the completion of the impulse (i) of [iii] of 1 as part of the extended wave [iii] of 1 of (C). After a short-term correction in the wave (ii) of [iii] of 1 a continuation in the downward price movement is expected.



The GBP/USD pair

Wave analysis GBP/USD for 16.07.2015


The pound wave pattern is clearly being "knocked out" of the overall forecast, so I recommend staying out of the market for this instrument. Perhaps, the local correction within wave (ii) of [iii] of 1 is completed, and then a further decline in prices is expected.



Wave analysis GBP/USD for 16.07.2015

There is no confirmation that the correction within wave (ii) of [iii] of 1 is completed. Especially since the last local recession is more like a zigzag. We can only talk about the possibility of a further reduction in the price, only after confirming the price fixes below the confirmation level (magenta line on the graph).



The USD/JPY pair

Wave analysis USD/JPY for 16.07.2015


A gradual upward movement within a large upward impulse in wave [iii] of 3 of (5) continues, inside of which a stretch is forming.



Wave analysis USD/JPY for 16.07.2015

In the near future a completion of the first impulse (i) of [iii] of 3 in the extended wave [iii] of 3 of (5) is expected. After a short-term correction in the wave (ii) of [iii] of 3 we expect a further increase in prices.



The USD/CAD pair

Wave analysis USD/CAD for 16.07.2015


As expected, the price has continued the formation of the wave v of (iii) of [v] in the framework of a large upward impulse. The completion of this wave is expected in the near future. However, given the general outlook for the market, instead of the wave v of (iii) of [v] we can get an extension.



Wave analysis USD/CAD for 16.07.2015

In the near future the wave [4] of v of (iii) will end and we will get an update on the maximum of the pair in the wave [5] of v of (iii).


RoboForex Analytical Department

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