Wave Analysis 31.08.2015

August 31, 2015

EUR USD, “Euro vs US Dollar”

Obviously, Eurodollar has completed the first five-wave structure [i] of 1 of (C) of the larger descending impulse. After the local correction [ii] of 1 of (C), the price is expected to continue falling and reach new local lows.

Just as we expected, after reaching a new local low in the wave (v) of [i] of 1, Eurodollar has completed the impulse and right now is forming the short-term correction [ii] of 1 of (C). In the nearest future, the market is expected to complete this correction and continue falling.

GBP USD, “Great Britain Pound vs US Dollar”

After finishing the first descending impulse (i) of [iii] of 1, Pound has started the ascending correction, which may be followed by a further decline in the wave (ii) of [iii] of 1.

After completing the wave (i) of [iii] of 1, Pound has formed the ascending correction in the form of the expanded flat. In the nearest future, the price is expected to finish this correction and start a new decline.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming the wave (3) of [5] of a. Most likely, the pair as already completed another first impulse in the larger wave 1 of (3) of [5]. After the local correction, the market is expected to continue moving upwards.

Most likely, the price is extending the wave [iii] of 1 of (3) and has already finished the wave (i) of [iii] of 1 inside it. After completing the correction (ii) of [iii] of 1, the market is expected to continue moving upwards.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar isn’t showing a serious ascending dynamics, but the main forecast is still bullish. Most likely, in the nearest future the pair may reach new local highs while forming the wave (iii) of [v] of 5.

Probably, the pair has already formed the third first impulse in the large ascending wave [v] of 5. After finishing the correction [2] of iii of (iii), the price is expected to start continue growing.

RoboForex Analytical Department

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