Forecast for October 12th, 2015
EUR USD, “Euro vs US Dollar”
The local correction in the wave (ii) of [iii] of 1
continues and it may take the form of the ascending double zigzag
. In the nearest future, the market is expected to complete this correction and may start a new decline in the wave (iii) of [iii] of 1
The wave y of (ii) of [iii]
is a bit longer than we expected. The pair is expected to reach a new local high, complete the double zigzag
, and start a significant descending movement in the wave (iii) of [iii] of 1
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound has finished the wave ii of (iii) of [iii]
, and in the nearest future, the market is expected to start falling in the wave iii of (iii) of [iii]
and reach new local lows.
Probably, the price has completed the wave ii of (iii) of [iii]
in the form of the double zigzag
. The pair is moving below the critical level and in the nearest future is expected to start moving downwards in the wave iii of (iii) of [iii]
USD JPY, “US Dollar vs Japanese Yen”
The situation still isn’t changing. After finishing the horizontal triangle [iv] of C of (2)
, the market is expected to continue falling in the wave [v] of C of (2)
Probably, after the first descending impulse (i) of [v] of C
and the correctional flat (ii) of [v] of C
, Yen has formed the extension
in the wave (iii) of [v] of C
. in the future, the market is expected to continue falling.
USD CAD, “US Dollar vs Canadian Dollar”
The scenario with the wave (ii) of [a] of 4
in the form of the flat
is no longer valid. Most likely, Canadian Dollar has already completed this wave and may continue falling in the nearest future.
Most likely, in the nearest future the market may complete the wave I of (iii) of [a]
and stat the short-term correction ii of (iii) of [a]
. The local descending trend continues.
RoboForex Analytical Department
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