Article By RoboForex.com
Analysis for July 24th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has completed the correction inside wave [ii] of 1 of (C) in the form of an ascendingzigzag. In the nearest future, the market is expected to continue falling inside wave [iii] of 1 of (C).
It looks like the price has formed the first impulse of a new and large descending wave [iii] of 1 of (C). Most likely, the pair will continue its decline.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound has finished the correction inside wave [ii] of 1 of (3) and in the nearest future is expected to continue moving downwards.
Most likely, the price has finished wave (y) of [ii] of 1 in the form of truncated zigzag and then wave i of (i) of [iii] of a new descending movement.
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USD JPY, “US Dollar vs Japanese Yen”
Yen is still being corrected inside wave [ii] of 3 of (5), which may be followed by a further growth inside wave [iii] of 3 of (5).
Wave (b) of [ii] of 3 is taking the form of an ascending zigzag, which may be followed by a new decline inside wave (c) of [ii] of 3.
USD CAD, “US Dollar vs Canadian Dollar”
Probably, Canadian Dollar has started a new correction inside wave (iv) of [v] of 3, the form of which isn’t quite clear yet. In the nearest future, the market is expected to continue forming this correctional pattern.
Probably, the pair has formed the first five-wave structure of a complicated correction inside wave (iv) of [v] of 3. The market is expected to continue moving downwards. At the same time, an alternative scenario implies that the price is forming an extension inside wave v of (iii) of [c]. The situation will become clearer in the nearest future.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
