Forecast for October 6th, 2015
Just as we expected, Eurodollar is starting to fall slowly in the large descending impulse (iii) of [iii] of 1. In the nearest future, the pair may continue falling and reach new local lows.
EUR USD, “Euro vs US Dollar”
After finishing the zigzag (ii) of [iii] of 1, the price has almost formed the descending impulse i of (iii) of [iii], which may be followed by a local ascending correction and a further decline.
GBP USD, “Great Britain Pound vs US Dollar”After finishing the flat, which took quite a long time, Pound has started to move downwards slowly according to the forecast. In the nearest future, the market is expected to fall inside the wave iii of (iii) of [iii].
Most likely, after finishing the wave ii of (iii) of [iii] in the form of the double three, Pound has formed the first initial impulse inside the large extension. In the future, the market is expected to continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”Yen continues moving according to the main forecast. Most likely, in the nearest future the market is expected to fall in the wave (iii) of [v] of C.
Probably, the wave (ii) of [v] of C has taken the form of the expanded flat. So far, Yen is moving below the critical level, that’s why the main scenario remains the same. In the nearest future, the market is expected to continue falling.
USD CAD, “US Dollar vs Canadian Dollar”Probably, Canadian Dollar has finished the wave [v] of 3 and may start forming the correction 4 of (3) of [C], which is expected to be quite large. The form of this correction isn’t quite clear yet, but we may be sure that the wave [a] of 4 of (3) will be a five-wave descending structure. In the future, the pair is expected to continue moving upwards.
Quite soon the pair is expected to finish is long descending movement in the wave (i) of [a] of 4 and the pair may form the local ascending zigzag (ii) of [a] of 4, which may be followed by a further decline.
RoboForex Analytical Department
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