Wave Analysis 03.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

August 3, 2015

EUR USD, “Euro vs US Dollar”

After completing the local correction (ii) of [iii] of 1, the market continues moving downwards inside a large descending impulse (iii) of [iii] of 1. In the future, the market is expected to continue falling.

Probably, the pair has finished the first five-wave structure i of (iii) of [iii] inside the extension, and after a local pullback inside wave ii of (iii) of [iii], the price is expected to continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

Price dynamics is not very active, thus providing us with a lot of alternative scenarios. So, the main of them implies that the market may continue forming wave [iii] of 1 of (3) and we can expect a significant decline during the entire month of August. At the same time, there is an alternative scenario (colored in gray), suggesting that the price may be forming horizontal triangle (b) of [ii] of 1, which may be followed by a local growth inside wave (c) of [ii] of 1.

Just as we expected, the pair has formed leading diagonal triangle i of (i) of [iii], and a significant ascending correction ii of (i) of [iii]. In the future, the market is expected to continue falling. We can be more sure about this only after the price is able to stay below the confirming level (crimson line on the chart).

USD JPY, “US Dollar vs Japanese Yen”

Yen has completed the correction (ii) of [iii] of 3 in the form of a descending zigzag, which may be followed by a fast growth inside wave (iii) of [iii] of 3.

After completing the correction (ii) of [iii] of 3, the pair has formed the first five-wave ascending structure i of (iii) of [iii] and the short-term correction ii? of (iii) of [iii]. In the future, the market is expected to continue growing.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues moving upwards and extending wave (v) of [v] of 3. After finishing the local correction, the pair may continue growing.

Probably, the market is forming a significant extension inside wave (v) of [v] of 3. The price has already completed 2 ascending impulses, i and ii of (v) of [v], and wave [1] of iii of (v), which may be followed by a further growth.

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