Wave Analysis 19.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Forecast for October 19^th, 2015

EUR USD, “Euro vs US Dollar”

Probably, after finishing the correction (ii) of [iii] of 1, Eurodollar has formed the first descending impulse of a new large decline. In the future, the market is expected to continue falling.



Most likely, the current sideways movement looks like the running triangle in the impulse i of (iii) of [iii]. After reaching a new local low, Eurodollar is expected to start the local ascending correction ii of (iii) of [iii].

GBP USD, “Great Britain Pound vs US Dollar”

Probably, Pound has completed the correction ii of (iii) of [iii] and right now is expected to start a significant decline in the wave iii of (iii) of [iii].



Most likely, the descending movement, which the pair is making after completing the wave ii of (iii) of [iii], is taking the form of the leading diagonal triangle (1) of [1] of iii. In the future the market is expected to continues its decline.

USD JPY, “US Dollar vs Japanese Yen”

I’ve changed the current structure a little bit – the horizontal triangle[iv] of C of (2) turned out to be longer and after it the price has formed two descending impulses in the [v] of C of (2). Later, the pair is expected to continue moving downwards.



So, after the first initial impulse in the wave [v] of C of (2), Yen has formed the second initial impulse i of (iii) of [v]. Probably, after completing the local correction ii of (iii) of [v], the price may continue falling.

USD CAD, “US Dollar vs Canadian Dollar”

The downtrend continues. Most likely, Canadian Dollar has completed another local ascending correction and later is expected to continue falling and form the wave iii of (iii) of [a].



Most likely, the pair is about to finish the correction ii of (iii) of [a], which may be followed by a significant decline in the wave iii of (iii) of [a].



 
RoboForex Analytical Department