Wave Analysis 17.09.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

September 17, 2015

EUR USD, “Euro vs US Dollar”

Probably, the expanded flat [ii] of 1 of (C) has been completed, and right now the price is forming the wave[iii] of 1 of (C), which is expected to be quite long and deep. Considering that the decline from the local low is quite long and deep, we may assume that the pair has already finished the flat [ii] of 1 of (C). The structure of the current part of the chart is a bit strange, that’s why the situation is expected to be cleared up within next 24 hours. The market is expected to continue falling in the wave iii of (i) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

Pound has decided to move according to the alternative scenario. Right now, the pair is being corrected in the form of the double zigzag w-x-y. In the nearest future, the price is expected to complete this pattern. Pound is about to finish the wave [A] of y of (ii). After the short-term correction [B] of y of (ii), the pair is expected to reach a new local high in the wave [C] of y of (ii).

USD JPY, “US Dollar vs Japanese Yen”

The situation isn’t changing. After finishing two ascending impulses and two local corrections, Yen is forming the ascending impulse (iii) of [iii] of 1. After completing the local correction ii of (iii) of [iii], the pair has started forming the ascending impulse iii of (iii) of [iii].

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues moving inside the narrow horizontal channel, thus giving us several possible scenarios. Probably, right now the pair is forming the horizontal triangle (e) of [iv] of 3.  In the nearest future, the market is expected to complete this pattern and start moving upwards in the wave [v] of 3 of (C). Probably, the pair is finishing the wave c of (e) of [iv], which may be followed by two zigzags, d of (e) of [iv]and e of (e) of [iv].

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