11 September, 2015
EUR USD, “Euro vs US Dollar”
The local correction of the market is ending and in the near future, perhaps we will see a long downward movement within wave [iii] of 1 of (C). The wave (ii) of [iii] of 1 takes the form of a Double rising Zigzag, which is likely to have fully completed. In the near future we expect a start of the development of a long pulse wave [iii] of 1 of (C) with one or more elongations inside.
GBP USD, “Great Britain Pound vs US Dollar”
As expected, the correction in the wave (ii) of [iii] of 1 continued and reached the level of the wave ii of (i) of [iii]. In the near future we expect a start of the lowering of the pair, but more confidently this can be said only when the pair consolidates below the level of confirmation (magenta line on the graph). The completion of wave (ii) of [iii] of 1 is nearing, which takes the form of an upward zigzag. In the near future, probably a large downward momentum in the wave (iii) of [iii] of 1 will begin its development.
USD JPY, “US Dollar vs Japanese Yen”
Wave (i) of [iii] of 1 has completed, and after the local correction within wave (ii) of [iii] of 1 a further increase in the pair and the establishment of new local highs is expected. After the completion of wave (i) of [iii] of 1 comes the development of local correction within wave (ii) of [iii] of 1, which takes the form of a downward zigzag and is not yet completed. The completion of the correction and the beginning of growth of the pair is expected.
USD CAD, “US Dollar vs Canadian Dollar”
The long lateral movement forces the pair to somewhat correct the mark. Probably, the wave (e) of [iv] of the running triangle also takes the form of a triangle. We expect the beginning of growth of the pair within wave [v] of 3 of (C). Probably, the wave (e) of [iv] is taking the shape of a horizontal triangle after the completion of which we have already received the first upward impulse and a local correction. In the near future we expect the start of a long-term growth of pair within wave [v] of 3 of (C).
RoboForex Analytical Department
Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...
Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...
The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...
Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...
Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...
After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...
Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...
Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...