Wave Analysis 05.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

05.08.2015

Analysis for August 5th, 2015

EUR USD, “Euro vs US Dollar”

Just as we expected, after finishing the short-term correction ii of (iii) of [iii], the pair hast started moving downwards inside wave iii of (iii) of [iii]. In the future, the market is expected to continue falling.



Right now, the pair is forming a descending impulse ii of (iii) of [iii] with several possible extensions inside it.  Later, the price is expected to continue moving downwards.




GBP USD, “Great Britain Pound vs US Dollar”

Similarly to Euro, Pound, after finishing the long-term horizontal correction, has started falling inside wave (i) of [iii] of 1. In the future, the market is expected to continue falling.



The price has formed divergent wedge inside wave [1] of iii of (i) and the fast correction [2] of iii of (i), and right now is forming a descending wave [3] of iii of (i).




USD JPY, “US Dollar vs Japanese Yen”

After several first waves and local corrections, Yen has finally started moving upwards inside wave (iii) of [iii] of 3. In the future, the market is expected to continue growing.



Most likely, the pair is forming wave [1] of iii of (iii) inside a large ascending extension, and after finishing the local correction [2] of iii of (iii), the market is expected to continue growing.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is forming wave i of (v) of [v] inside wave (v) of [v] of 3. After completing the local correction, the market is expected to continue moving upwards.



The market has finished wave i of (v) of [v]. After the local correction inside wave ii of (v) of [v], we can expect a fast growth inside wave iii of (v) of [v].



 
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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