Wave Analysis 26.06.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

June 26, 2015

EUR USD, “Euro vs US Dollar”

The situation isn’t changing. Most likely, the price is forming the first descending impulse [i] of 1 of (C) of a larger descending movement. The price is expected to complete this five-wave structure and start a short-term correction inside wave [ii] of 1 of (C).

Most likely, wave (iv) of [i] of 1 is taking the form of horizontal triangle, after which the market may form a new local low and complete wave [i] of 1 of (C).

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still being corrected inside wave [ii] of 1 of (3), which may be followed by a significant decline inside wave [iii] of 1 of (3).

The correction inside wave [ii] of 1 of (3) is taking the form of double zigzag, which may be followed by a strong decline inside wave [iii] of 1 of (3).

USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has completed the correction inside wave [iii] of 3 of (5), which may be followed by a strong ascending movement inside wave [iii] of 3 of (5).

The correction inside wave [ii] of 3 of (5) is taking the form of double zigzag, which may be followed by a new ascending impulse inside wave [iii] of 3 of (5).

USD CAD, “US Dollar vs Canadian Dollar”

The situation is quite complicated. The current local growth may be considered both as double zigzag (an alternative scenario) and as an impulse with extension inside the third wave. The main scenario implies that the market is expected to continue growing and forming wave (iii) of [v] of 3.

Probably, in the nearest future the price may form extension inside wave [3] of i of (iii) and continue growing. At the same time, we shouldn’t forget about an alternative scenario from the H4 chart.

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