Analysis for July 20th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar is forming an extension inside wave [iii] of 1 of (C). Later, the market is expected to continue falling.
The pair continues forming wave v of (i) of [iii] of 1, which may be followed by a short-term correction inside wave (ii) of [iii] of 1 and a further decline.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming a correctional wave [ii] of 1 of (3), which is taking the form of double zigzag. In the nearest future, the price is expected to complete the correction and start falling.
The pair has finished wave (x) of [ii] of 1 in the form of expanded flat, which may be followed by one more ascending zigzag inside wave (y) of [ii] of 1.
USD JPY, “US Dollar vs Japanese Yen”
The situation hasn’t changed. Yen is expected to complete the current local correction and start growing inside wave [iii] of 3 of (5).
Probably, the pair hasn’t finished wave (ii) of [iii] of 3 yet, so in the nearest future the price is expected to complete it and continue growing.
USD CAD, “US Dollar vs Canadian Dollar”
It looks like Canadian Dollar is about to finish wave (iii) of [v] of 3, which may be followed by a horizontal correction inside wave (iv) of [v] of 3.
The pair may reach another local high and complete wave (iii) of [v] of 3, which may be followed by a correctional wave (iv) of [v] of 3.
RoboForex Analytical Department
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