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]
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