Wave Analysis 24.07.2015

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

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

Euro vs US Dollar

Probably, Eurodollar has completed the correction inside wave [ii] of 1 of (C) in the form of an ascendingzigzag. In the nearest future, the market is expected to continue falling inside wave [iii] of 1 of (C).



It looks like the price has formed the first impulse of a new and large descending wave [iii] of 1 of (C). Most likely, the pair will continue its decline.

Great Britain Pound vs US Dollar

Probably, Pound has finished the correction inside wave [ii] of 1 of (3) and in the nearest future is expected to continue moving downwards.



Most likely, the price has finished wave (y) of [ii] of 1 in the form of truncated zigzag and then wave i of (i) of [iii] of a new descending movement.

US Dollar vs Japanese Yen

Yen is still being corrected inside wave [ii] of 3 of (5), which may be followed by a further growth inside wave [iii] of 3 of (5).



Wave (b) of [ii] of 3 is taking the form of an ascending zigzag, which may be followed by a new decline inside wave (c) of [ii] of 3.

US Dollar vs Canadian Dollar

Probably, Canadian Dollar has started a new correction inside wave (iv) of [v] of 3, the form of which isn’t quite clear yet. In the nearest future, the market is expected to continue forming this correctional pattern.



Probably, the pair has formed the first five-wave structure of a complicated correction inside wave (iv) of [v] of 3. The market is expected to continue moving downwards. At the same time, an alternative scenario implies that the price is forming an extension inside wave v of (iii) of [c]. The situation will become clearer in the nearest future.



 

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