Forecast for October 2nd, 2015
The situation isn’t changing. The main scenario is still bearish and it implies that in the nearest future Eurodollar may reach new local lows while forming the wave (iii) of [iii] of 1.
EUR USD, “Euro vs US Dollar”
The pair has formed another descending impulse inside the large descending wave. After completing the local correction  of iii of (iii), the market is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”Pound has been moving inside the narrow trading range for the second day in a row. The pair is still expected to form the ascending correction ii of (iii) of [iii], which may be followed by a further decline of the price.
The forecast remains the same – Pound is expected to form the flat. Probably, by now the pair has already finished the wave B of ii of (iii), which may be followed by the short-term ascending impulse [C] of ii of (iii).
USD JPY, “US Dollar vs Japanese Yen”So far, I’m sticking to the bearish scenario, which implies that after forming the horizontal triangle [iv] of C of (2) inside the flat, the market is expected to fall in the wave [v] of C of (2).
Most likely, the pair has formed another descending impulse inside the extension of the wave (iii) of [v] of C. After completing the local correction, Yen is expected to continue moving downwards.
USD CAD, “US Dollar vs Canadian Dollar”Despite the depth of the correction (ii) of [v] of 3, the price is still expected to continue moving upwards. In the nearest future, the pair is expected to continue growing in the wave (iii) of [v] of 3.
Probably, the wave (ii) of [v] of 3 has taken the form of the expanded flat, which may be followed by a long ascending impulse in the wave (iii) of [v] of 3.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Live Account.