Analysis for July 31st, 2015
EUR USD, “Euro vs US Dollar”
Right now, Eurodollar is forming the first five-wave structure
(i) of [iii] of 1 of a larger descending impulse. After a short-term correction inside wave
(ii) of [iii] of 1, the market is expected to continue moving downwards.
The pair is forming a sideways correction inside wave
iv of (i) of [iii], which may be followed by a short-term decline inside wave
v of (i) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”
Pound is falling slowly and forming the first impulse of a larger descending impulse
[iii] of 1 of (3). In the future, the price is expected to continue falling.
Probably, the pair is forming
leading diagonal triangle inside wave
i of (i) of [iii]. In the future, the market is expected to reach a new local low.
USD JPY, “US Dollar vs Japanese Yen”
Yen is slowly growing and finishing wave
(i) of [iii] of 3, which may be followed by a short-term correction inside wave
(ii) of [iii] of 3.
After completing wave
iv of (i) of [iii], the pair is expected to move upwards inside wave
v of (i) of [iii], the price is expected to complete the first five-wave structure of a larger ascending impulse.
USD CAD, “US Dollar vs Canadian Dollar”
In the nearest future, Canadian Dollar may complete the first five-wave ascending structure of a lager ascending impulse
(v) of [v] of 3. In the mid-term, the pair may continue moving upwards.
In the nearest future, the market is expected to reach a new local high and complete wave
i of (v) of [v], which may be followed by a short-term correction.
RoboForex Analytical Department