Wave Analysis 28.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
28.07.2015
Analysis for July 28th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has completed the correction inside wave [ii] of 1 of (C), which may be followed by a further decline inside wave [iii] of 1 of (C).
The pair has finished double three inside the correctional wave [ii] of 1 of (C), which may be followed by a significant decline and several new local lows.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound has finished the local correction inside wave [iii] of 1 of (3), which may be followed by a significant decline.
Wave ii of (i) of [iii] has taken the form of an ascending zigzag. In the nearest future, the market is expected to continue falling inside wave iii of (i) of [iii].
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished a descending zigzag inside wave [ii] of 3 of (5) and right now is starting to form an ascending impulse inside wave [iii] of 3 of (5).
Wave [ii] of 3 of (5) has taken the form of a descending zigzag, which may be followed by a new ascending movement inside wave [iii] of 3 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
It’s quite difficult moment to identify waves. There are no signals that Canadian Dollar has finished wave (iii) of [v] of 3. In the nearest future, the market is expected to start a sideways correction inside wave (iv) of [v] of 3.
The pair continues forming ending diagonal triangle inside wave [5] of v of (iii), the form of which is far from classical rules and requirements of Elliot wave principle. The market is expected to reach a new local low and start a sideways correction inside wave (iv) of [v] of 3.
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