Wave Analysis 02.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

02.10.2015

Forecast for October 2nd, 2015

EUR USD, “Euro vs US Dollar”

The situation isn’t changing. The main scenario is still bearish and it implies that in the nearest future Eurodollar may reach new local lows while forming the wave (iii) of [iii] of 1.



The pair has formed another descending impulse inside the large descending wave. After completing the local correction [2] of iii of (iii), the market is expected to continue moving downwards.




GBP USD, “Great Britain Pound vs US Dollar”

Pound has been moving inside the narrow trading range for the second day in a row. The pair is still expected to form the ascending correction ii of (iii) of [iii], which may be followed by a further decline of the price.



The forecast remains the same – Pound is expected to form the flat. Probably, by now the pair has already finished the wave B of ii of (iii), which may be followed by the short-term ascending impulse [C] of ii of (iii).




USD JPY, “US Dollar vs Japanese Yen”

So far, I’m sticking to the bearish scenario, which implies that after forming the horizontal triangle[iv] of C of (2) inside the flat, the market is expected to fall in the wave [v] of C of (2).



Most likely, the pair has formed another descending impulse inside the extension of the wave (iii) of [v] of C. After completing the local correction, Yen is expected to continue moving downwards.




USD CAD, “US Dollar vs Canadian Dollar”

Despite the depth of the correction (ii) of [v] of 3, the price is still expected to continue moving upwards. In the nearest future, the pair is expected to continue growing in the wave (iii) of [v] of 3.



Probably, the wave (ii) of [v] of 3 has taken the form of the expanded flat, which may be followed by a long ascending impulse in the wave (iii) of [v] of 3.



 
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.

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