14 September, 2015
EUR USD, “Euro vs US Dollar”
Probably, the correctional wave [ii] of 1 of (C) is taking the form of the expanded flat. In the nearest future, the market is expected to complete the pattern and continue moving downwards.
To finish the impulse (c) of [ii] of 1, the price needs to reach a new high. In the nearest future, the market is expected to complete the correction and start a significant decline in the wave [iii] of 1 of (C).
GBP USD, “Great Britain Pound vs US Dollar”
After finishing the fast impulse (i) of [iii] of 1, Pound has formed the local correction (ii) of [iii] of 1 in the form of the ascending zigzag. In the nearest future, the market is expected to start a significant descending movement and reach new local lows.
At the H1 chart, Pound is moving below the critical level (red line) so far. In the nearest future, the price is expected to move downwards and form the wave (ii) of [iii] of 1.
USD JPY, “US Dollar vs Japanese Yen”
The situation hasn’t changed. After two ascending impulses, [i] of 1 of (3) and (i) of [iii] of 1, Yen has started the descending correction, which may be completed quite soon. In the nearest future, Yen is expected to resume growing.
It looks like the price hasn’t finished the correction (ii) of [iii] of 1 in the form of the double zigzag yet. In the nearest future, the market may test the bottom and then start a significant growth in the wave (iii) of [iii] of 1.
USD CAD, “US Dollar vs Canadian Dollar”
In case of Canadian Dollar, the situation hasn’t changed as well. After the long running triangle, the pair has formed the first ascending impulse and right now is forming the local correction. After finishing the correction, the price is expected to continue moving upwards.
After finishing the wave (i) of [v] of 3 with the complicated internal structure, the pair has started the local descending zigzag, which may be completed quite soon. After that, the price is expected to start a serious growth in the wave (iii) of [v] of 3.
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...