Wave Analysis 21.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

21 October, 2015

EUR USD, “Euro vs US Dollar”

So, probably the price is finishing the local correction inside the large descending impulse. After that, Eurodollar is expected to start a significant decline in the wave iii of (iii) of [iii].

Just as we expected, the pair has formed the ascending zigzag ii of (iii) of [iii], which may be followed by a significant descending movement in the wave iii of (iii) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

The situation isn’t changing. Most likely, Pound has completed the short-term ascending correction ii of (iii) of [iii], which may be followed by a significant decline in the wave iii of (iii) of [iii].

Pound is moving below the critical level. The market has formed the leading diagonal triangle (1) of [1] of iiiand the short-term ascending correction after it. In the future, the market is expected to continue its long decline in the wave iii of (iii) of [iii].

USD JPY, “US Dollar vs Japanese Yen”

Despite the fact that the current local growth is quite long, the main scenario remains the same. In the nearest future, Yen is expected to move downwards in the wave iii of (iii) of [v].

Yen has moved very close to the critical level, thus completing the local correction ii of (iii) of [v]. in the nearest future, the market is expected to finish this correction and start a serious decline in the wave iii of (iii) of [v].

USD CAD, “US Dollar vs Canadian Dollar”

The price has finished another local correction inside the large descending correction. After that, Canadian Dollar is expected to continue falling and form the wave (iii) of [a] of 4.

The pair has completed the local correction ii of (iii) of [a], which may be followed by a serious decline in the wave iii of (iii) of [a].
 
RoboForex Analytical Department


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