Wave Analysis 14.09.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

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


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