Wave Analysis 25.09.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
25.09.2015
Forecast for September 25th, 2015
EUR USD, “Euro vs US Dollar”
Most likely, Eurodollar has finished the wave (ii) of [iii] of 1, which may be followed by a further decline and new local lows.
After completing the ascending zigzag(ii) of [iii] of 1, the pair has formed the first descending impulse inside the larger descending impulse (iii) of [iii] of 1. In the future, the market is expected to continue falling.
GBP USD, “Great Britain Pound vs US Dollar”
Just as we expected. Pound has reached a new local low and almost completed the five-wave impulse i of (iii) of [iii]. In the future, the market is expected to start the local correction ii of (iii) of [iii].
Pound has finished the impulse i of (iii) of [iii], so, in the nearest future, the pair may start forming the short-term local correction ii of (iii) of [iii], which may take the form of the ascending zigzag.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues moving sideways, thus decreasing the chances for a further decline and forcing us turn to an alternative scenario (colored in gray), according to which the pair is growing in the wave (iii) of [iii]. Nevertheless, the scenario with the decline may yet happen (until the price is moving below the critical level).
After completing the horizontal triangle[iv] of C of (2), Yen has formed two descending impulses in a row and the local correction ii of (iii) of [v] in the form of the flat, which may be followed by a further decline.
USD CAD, “US Dollar vs Canadian Dollar”
The forecast remains the same – in the nearest future Canadian Dollar is expected to continue moving upwards in the wave [v] of 3 of (C) and reach new local highs.
After finishing the wave (i) of [v] of 3 in the form of the leading diagonal triangle, the pair has extended the third wave and already formed waves i of (iii) of [v] and ii of (iii) of [v] (in the form of the flat). In the future, the market is expected to continue growing and reach new local highs.
RoboForex Analytical Department
Attention!
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.