Wave Analysis 12.08.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)


Analysis for August 12th, 2015

EUR USD, “Euro vs US Dollar”

Despite the fact that the situation is still quite complicated, the forecast remains the same: in the nearest future, the market is expected to start a significant decline inside a large descending wave iii of (iii) of [iii].

Double zigzag
inside wave ii of (iii) of [iii] has transformed a little bit, but the main scenario is still the same – Eurodollar is expected to start a long descending movement inside wave iii of (iii) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

Just as we expected, the price has finished wave [i] of C of (2). After completing a short-term correction [ii] of C of (2), the pair may continue growing.

The short-term correction inside wave [ii] of C of (2) is taking the form of a descending zigzag, which may be followed by a new growth inside wave [iii] of C of (2).

USD JPY, “US Dollar vs Japanese Yen”

Yen continues reaching new local highs inside wave (iii) of [iii] of 3. In the future, the price is expected to continue growing.

The wave structure of this part of the chart is quite complicated. Nevertheless, probably the pair has finished wave i of (iii) of [iii] and the short-term correction ii of (ii) of [iii]. In the future, the market may continue growing.

USD CAD, “US Dollar vs Canadian Dollar”

After completing the local correction ii of (v) of [v], Canadian Dollar has started growing inside a large ascending impulse iii of (v) of [v]. Later, the market is expected to continue moving upwards.

Probably, the market is forming extensions inside wave iii of (v) of [v]. After forming another 1-2 pattern, the market is expected to start a significant growth and reach new multiyear highs.

RoboForex Analytical Department


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.