Analysis for August 19th, 2015
Eurodollar is still moving inside the narrow trading range, giving us 2 or 3 possible scenarios. I’m still holding to the one, where the pair is forming the wave C of (B) of [Y] inside the possible horizontal triangle (B) of [Y].
EUR USD, “Euro vs US Dollar”
Probably, the price is about to complete the wave (b) of [y] of C, which is taking the form of the descending zigzag. In the nearest future, the pair is expected to move upwards and finish the correctional wave C of (B) of [Y].
GBP USD, “Great Britain Pound vs US Dollar”The fast growth made by Pound yesterday confirms the main scenario. Probably, the market is extending the wave [iii] of C of (2). In the future, the market is expected to continue growing.
Most likely, the pair has completed the wave (ii) of [iii] of C, which may be followed by a fast growth inside the wave (iii) of [iii] of C.
USD JPY, “US Dollar vs Japanese Yen”The situation is changing very slowly. The price is expected to continue falling and forming the large descending impulse [iii] of 1 of (C).
Probably, the wave [ii] of 1 of (C) has taken the form of the more complicated pattern (zigzag triangle), which may be followed by a new decline.
USD CAD, “US Dollar vs Canadian Dollar”Canadian Dollar is falling slowly inside the wave [iii] of A of (B). In the nearest future, the market is expected to continue moving downwards.
Probably, the pair is extending the wave iii of (i) of [iii]. In the nearest future, the price is expected to continue falling inside the wave (i) of [iii] of A and reach new local lows.
RoboForex Analytical Department
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