Wave Analysis 09.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

09.10.2015

Forecast for October 9th, 2015

EUR USD, “Euro vs US Dollar”

The correction in the wave (ii) of [iii] of 1 has become a bit more complicated, but the main scenario remains the same – probably, in the nearest future the market may start a strong and significant decline in the wave (iii) of [iii] of 1.



The wave (ii) of [iii] of 1 has taken the form of the ascending double zigzag with the running trianglex of (ii) of [iii] inside it. In the nearest future, the market is expected to start a significant descending movement.




GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound is about to finish the local correction ii of (iii) of [iii], and in the nearest future the market is expected to start falling in the wave iii of (iii) of [iii].



The same as Euro, the wave ii of (iii) of [iii] is taking the form of the ascending double zigzag, which may be completed quite soon. In the nearest future, the market is expected to start moving downwards in the wave iii of (iii) of [iii] and reach new local lows.




USD JPY, “US Dollar vs Japanese Yen”

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



So far, I’m sticking to the main scenario – Yen is expected to start a significant descending movement in the wave [v] of C of (2) towards 11.75 – 116.0. At the same time, if the price starts going up in the nearest future, then the wave (2) might turn out to be the double zigzag, after which the pair has formed the first ascending impulse, and instead of the horizontal triangle we’ll see the pattern in the second wave.




USD CAD, “US Dollar vs Canadian Dollar”

Probably, the wave (ii) of [a] of 4 is taking the form of the flat, that’s why in the nearest future we can expect the price to start growing.



The main scenario implies that the pair is forming the wave (ii) of [a] of 4 in the form of the flat, probably the expanded one. At the same time, there is an alternative scenario (colored in gray) that suggests that the price has already completed the wave (ii) of [a] of 4 and may start a significant decline in the nearest future.



 
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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