Wave Analysis 24.09.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

24.09.2015

Forecast for September 24th, 2015

EUR USD, “Euro vs US Dollar”

After finishing the wave (i) of [iii] of 1, Eurodollar has started the correction (ii) of [iii] of 1, which may be followed by a further decline in the wave (iii) of [iii] of 1.



Right now there are no reasons to believe that the pair has already finished the correction (ii) of [iii] of 1, that’s why we can expect a short-term growth and then a further decline in the wave (iii) of [iii] of 1.




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming the large descending impulse i of (iii) of [iii], which may be followed by a short-term correction, probably in the form of the zigzag.



Pound is finishing the wave (5) of [3] of i of the large extension in the wave i of (iii) of [iii], after which the pair may reach a new local low and complete the impulse i of (iii) of [iii].




USD JPY, “US Dollar vs Japanese Yen”

The situation isn’t changing. After completing the horizontal triangle[iv] of C of (2), Yen is expected to continue falling in the wave [v] of C of (2).



After completing the horizontal triangle[iv] of C of (2), Yen has formed the first initial wave (i) of [v] of C and the correction (ii) of [v] of C. later, the market is expected to continue moving downwards.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues moving in the ascending impulse [v] of 3 of (C). After completing the wave (i) of [v] of 3 and the local correction (ii) of [v] of 3, the price is expected to form a large extension in the ascending impulse.



The wave (i) of [v] of 3 has taken the form of the leading diagonal triangle. After finishing the correction (ii) of [v] of 3, the market may continue moving upwards and reach new local highs.



 
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.