Wave Analysis 23.07.2015

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

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Euro vs US Dollar

Eurodollar is still being corrected inside wave [ii] of 1 of (C). After completing this ascending zigzag, the market is expected to continue falling inside wave [iii] of 1 of (C).



In the nearest future, we can expect a local growth inside wave (c) of [ii] of 1, which may be followed by a new decline.

Great Britain Pound vs US Dollar

Pound is still being corrected inside wave [ii] of 1 of (3), which is probably taking the form of double zigzag. In the nearest future, the price is expected to complete the pattern and continue moving downwards.



After finishing quite a complicated wave (x) of [ii] of 1, the price has started forming an ascending zigzaginside wave (y) of [ii] of 1. In the nearest future, we can expect a local growth inside wave (y) of [ii] of 1 and then the pair may complete the correction.

US Dollar vs Japanese Yen

Yen hasn’t finished wave [ii] of 3 of (5) yet. In the nearest future, the market may reach a new local low and continue the current local correction in the form of a descending zigzag.



The completion of wave (b) of [ii] of 3 hasn’t been confirmed yet. In the nearest future, Yen is expected to fall inside wave (c) of [ii] of 3.

US Dollar vs Canadian Dollar

It’s only now that Canadian Dollar is finishing wave (iii) of [v] of 3, which may be followed by a horizontal correction inside wave (iv) of [v] of 3.



The pair has reached a new local high and changed the pattern a bit. In the nearest future, the price is expected to complete wave [5] of v of (iii) and then start a horizontal correction inside wave (iv) of [v] of 3.



 

Forex Trading | News Daily Update | FXTM Online Analysis Department.