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Wave Analysis 20.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Forecast for October 20th, 2015

EUR USD, “Euro vs US Dollar”

After finishing the local correction (ii) of [iii] of 1 in the form of the ascending double zigzag, Eurodollar has formed the first descending impulse in the wave (iii) of [iii] of 1. After another local correction, the market may continue falling.



Most likely, the pair has completed the impulse i of (iii) of [iii], which may be followed by the local correction ii of (iii) of [iii] and a further decline.




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the situation hasn’t changed over the last 24 hours. Pound has completed the correction ii of (iii) of [iii] and right now is expected to start a significant decline in the wave iii of (iii) of [iii].



Pound is still moving below the critical level. After finishing the leading diagonal triangle (1) of [1] of iii, the price hast started forming the correction (2) of [1] of iii. In the future, the market is expected to continues its decline.




USD JPY, “US Dollar vs Japanese Yen”

In case of Pound, the situation isn’t changing as well. Probably, the price is about to finish the correction inside the descending extension of the wave [v] of C of (2). Later, the pair is expected to continue moving downwards.



Yen is completing the wave ii of (iii) of [v] of the large descending impulse, which may be followed by a further decline in the wave iii of (iii) of [v].




USD CAD, “US Dollar vs Canadian Dollar”

The price continues moving below the critical level. Most likely, in the nearest future Canadian Dollar will continue falling while forming the wave (iii) of [a] of 4 and reach new local lows.



The pair is still being corrected in the wave ii of (iii) of [a]. In the nearest future, the price is expected to continue moving downwards in the wave iii of (iii) of [a].



 
RoboForex Analytical Department

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