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Wave analysis of EUR/USD, GBP/USD, USD/JPY and USD/CAD for 17.07.2015

The EUR/USD pair

Wave analysis of EUR/USD for 17.07.2015


Decrease in price of the pair in the frames of the impulse in wave [iii] of 1 of (C) continues. For now this direction of movement will continue.



Wave analysis of EUR/USD for 17.07.2015

It is likely that in the coming hours we will see a sideways correction in the frames of wave iv of (i) of [iii], after which the pair will renew the local minimum in the frames of wave v of (i) of [iii].



The GBP/USD pair

Wave analysis of GBP/USD for 17.07.2015


I slightly change the pattern for the pair. Probably, after the completion of the five in the wave [i] of 1 of (3) a correction within wave [ii] of 1 of (3) will develop, which is likely to take the form of a Double Zigzag. However, the alternative option (in gray on the chart) allows that the wave [ii] of 1 of (3) has been completed.



Wave analysis of GBP/USD for 17.07.2015

Given the fact that all past recessions looked like threes, we can conclude that the double zigzag is not yet formed. In the near future we expect growth of the pair as part of the wave (y) of [ii] of 1.



The USD/JPY pair

Wave analysis of USD/JPY for 17.07.2015


The growth of the pair in the frames of wave [iii] of 3 of (5) continues and after a local roll back, a further movement up is expected.



Wave analysis of USD/JPY for 17.07.2015

So, wave (i) of [iii] of 3 have completed, and after a downward zigzag in the frames of wave (ii) of [iii] of 3 a further growth in the pair is expected.



The USD/CAD pair

Wave analysis of USD/CAD for 17.07.2015

Most likely, wave (iii) of [v] of 3 has completed and at the moment we are entering a phase of a sideways correction in the frames of the wave (iv) of [v] of 3.



Wave analysis of USD/CAD for 17.07.2015

The wave v of (iii) of [v] is fully equipped with the waves and is now expected to develop a sideways correction within wave (iv) of [v] of 3. However, an alternative option is a stretch inside of the wave v of (iii) of [v] (today only wave [1] of v of (iii) has ended), and then after a roll back the local growth for the pair will continue.


RoboForex Analytical Department

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