Wave Analysis 27.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

27.08.2015

Analysis for August 27th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected in the wave (iv) of [y] of C, which is taking the form of the double zigzag. In the nearest future, the market is expected to complete this pattern and start growing in the wave (v) of [y] of C.



To complete the correctional wave (iv) of [y] of C, Eurodollar needs another impulse, which may be formed in the nearest future. After this correction, the pair is expected to start growing in the wave (v) of [y] of C and complete the correction (B) of [Y], which is taking the form of the double zigzag.




GBP USD, “Great Britain Pound vs US Dollar”

I’ve turned to the scenario, according to which the wave (2) of [3] has taken the form of the ascending zigzag, and the price has formed the first wave [i] of 1 of (1) and the correction [ii] of 1 of (1) in the form of the ascending zigzag inside the large descending impulse [3]. In the nearest future, the market is expected to finish the wave (i) of [iii] of 1 and start a new local correction.



After finishing the local correction iv of (i) of [iii], the pair is expected to reach a new local low and fall in the wave v of (i) of [iii].




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen is still forming the wave 4 of (C) of [A]. After reaching a new local high, the pair is expected to start falling in the wave 5 of (C) of [A].



Most likely, the wave [c] of 4 of (C) is taking the form the ending diagonal triangle: to complete this wave, Yen has to form the fifth wave and reach a new high. In the nearest future, the market is expected to finish the correction and start falling in the wave 5 of (C) of [A].




USD CAD, “US Dollar vs Canadian Dollar”

The pair is still moving inside the uptrend, and probably is forming extensions in the wave (iii) of [v] of 5. After completing the local correction, the price may continue moving upwards.



In the nearest future, the market is expected to finish the correction ii of (iii) of [v] and start growing in the wave iii of (iii) of [v].
 



RoboForex Analytical Department


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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.