Wave Analysis 27.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

July 27, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is about to complete the correction inside wave [ii] of 1 of (C), which is taking the form of an ascending zigzag. Later, the market is expected to continue falling inside wave [iii] of 1 of (C).

After finishing double three inside wave (x) of [ii] of 1, the price is expected to start growing and forming an ascending zigzag inside wave (y) of [ii] of 1.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still being corrected inside wave ii of (i) of [iii], which is, like in case of Eurodollar, taking the form of double zigzag. After completing this pattern, the market is expected to continue moving downwards.

In the nearest future, we can expect a local growth inside wave ii of (i) of [iii], which may be followed a further decline inside wave iii of (i) of [iii].

USD JPY, “US Dollar vs Japanese Yen”

Yen hasn’t finished wave [ii] of 3 of (5) yet; right now the price is forming “leg” (c) of [ii] of 3 of a descending zigzag. In the nearest future, the pair is expected to complete the correction and start a serious growth inside wave [iii] of 3 of (5).

Wave (b) of [ii] of 3 has taken the form of double three, and right now the market is forming wave (c) of [ii] of 3, which may be followed by a new growth inside wave [iii] of 3 of (5).

USD CAD, “US Dollar vs Canadian Dollar”

So far, there are no reasons to believe that Canadian Dollar has finished wave (iii) of [v] of 3 and started a new correction inside wave (iv) of [v] of 3. The market is expected to reach a new local low and start a correction.

With great reserve, we may assume that the pair is forming ending diagonal triangle inside wave [5] of v of (iii). After finishing this pattern, the market is expected to start a correction inside wave (iv) of [v] of 3.
 

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