Analysis for July 29th, 2015
Eurodollar has completed the correction inside wave [ii] of 1 of (C) in the form of double zigzag. In the nearest future, the market is expected to start another decline inside wave [iii] of 1 of (C).
EUR USD, “Euro vs US Dollar”
Most likely, the pair has finished the first five-wave structure of a large descending impulse [iii] of 1 of (C), which will have at least one extension inside it. Later, we can expect a further decline of the price.
GBP USD, “Great Britain Pound vs US Dollar”The local correction inside wave [iii] of 1 of (3) is lasting way too long. The price is moving below its critical level and in the nearest future is expected to continue falling.
Wave ii of (i) of [iii] has taken the form of double zigzag. Most likely, in the nearest future the market will start forming a large descending impulse inside wave iii of (i) of [iii].
USD JPY, “US Dollar vs Japanese Yen”Yen has finished the correction inside wave [ii] of 3 of (5) and in the nearest future may start growing inside wave [iii] of 3 of (5).
Yen has already completed the first five-wave structure and a local correction inside wave [iii] of 3 of (5). In the future, the market is expected to continue moving upwards.
USD CAD, “US Dollar vs Canadian Dollar”The situation has become clearer, more or less. Most likely, right now Canadian Dollar is forming a correctional wave (iv) of [v] of 3 in the form of expanded flat. In the nearest future, the market is expected to complete this pattern.
The pair is about to finish wave c of (iv) of [iii] of expanded flat. In the nearest future, the market is expected to reach a new local low and start growing inside wave (v) of [v] of 3.
RoboForex Analytical Department
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