Wave Analysis for 28.10.2015

October 28, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is about to complete the wave (i) of [iii] of 1 inside the large descending impulse, which may be followed by the short-term ascending correction (ii) of [iii] of 1.

Probably, the price is finishing the local correction iv of (i) of [iii], which in the nearest future may be followed by a new local low in the wave v of (i) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound has finished the first impulse (1) of [1] of iii of the larger descending movement, which may be followed by the local correction (2) of [1] of iii.

Most likely, Pound has completed the impulse [1] of iii of (iii) with quite complicated internal structure, which may be followed by the local correction [2] of iii if (iii).

USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming the local correction ii of (i) of [iii], which may be followed by a fast and significant growth in the wave iii of (i) of [iii].

Most likely, the wave ii of (i) of [iii] is taking the form of the descending double zigzag, which may be followed by a new growth in the wave iii of (i) of [iii].

USD CAD, “US Dollar vs Canadian Dollar”

The price has chosen to move according to an alternative scenario after all. This scenario implies that the market has formed waves (i) of [v] of 3 and (ii) of [v] of 3 in the extended wave [v] of 3. Right now, the market is forming the wave i of (iii) of [v]. Later, the pair is expected to continue growing.

So, the pair has formed a large extension in the wave i of (iii) of [v]. In the nearest future, the market is expected to continue moving upwards in the wave [3] of i of (iii).

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