Wave Analysis 01.07.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
01.07.2015
Analysis for July 1st, 2015
EUR USD, “Euro vs US Dollar”
After quite a deep (more than 61.8% from wave [i]) correction inside wave [ii] of 1 of (C), Eurodollar has started forming a new descending impulse inside wave [iii] of 1 of (C). At the same time, wave (B) of [Y] can be described as horizontal triangle (colored in gray). The future price movement will make the situation clearer.
In the nearest future, the pair may fall inside wave [iii] of 1 of (C) and reach new local lows.
GBP USD, “Great Britain Pound vs US Dollar”
The situation almost isn’t changing. Probably, after completing zigzag inside wave [ii] of 1 of (3), Pound has started a large descending impulse inside wave [iii] of 1 of (3).
The price almost isn’t moving, but the main scenario remains the same: the market is expected to continue moving downwards inside wave [iii] of 1 of (3).
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached a new local low and changed wave [b] of 2 of (5) which has taken the form of double three. The pair is expected to move upwards and form wave 3 of (5) of [5].
After reaching a new local low, the market is expected to start a new ascending movement inside wave 3 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is still forming wave (iii) of [v] of 3, just as we expected. In the future, the pair may continue moving upwards.
The price continues reaching new local highs inside wave i of (iii) of [v] and may continue growing in the future.
RoboForex Analytical Department
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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.