Wave Analysis 05.10.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Forecast for October 5^th, 2015

EUR USD, “Euro vs US Dollar”

During the market opening, Eurodollar chose the alternative scenario and reached a new local high, however it hasn’t changed the main scenario too much. So, probably the pair has finished the wave (ii) of [iii] of 1 and in the nearest future may continue falling while forming the wave (iii) of [iii] of 1.



The wave (ii) of [iii] of 1 has taken the form of the ascending zigzag with the horizontal triangleb of (ii) inside it. In the nearest future, the pair is expected to resume moving downwards in the wave (iii) of [iii] of 1.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has been moving inside the narrow trading range for several days in a row. Probably, the pair has completed the wave ii of (iii) of [iii], which may be followed by a further decline of the price in the nearest future.



Most likely, the wave ii of (iii) of [iii] has taken the form of the double three. In the nearest future, the market may move downwards and form the wave (iii) of [iii] of 1, which is expected to be strong and long.

USD JPY, “US Dollar vs Japanese Yen”

The same as Eurodollar, Yen has reached a new local high in the wave (ii) of [iv] of C without changing the main scenario. In the nearest future, the market is expected to fall in the wave (iii) of [v] of C.



After finishing the wave (ii) of [v] of C in the form of the ascending double zigzag, Yen has started the way we expected earlier. In the nearest future, the market is expected to continue falling in the wave (iii) of [v] of C.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues falling quite fast and this decline looks more like an impulse than a correction. Probably, this is just the first “leg” of the zigzag(ii) of [v] of 3, which may be followed a short-term correction and a local decline. In the future, the pair is expected to complete the descending correction (ii) of [v] of 3 and start moving upwards.



After finishing the wave (i) of [v] of 3, the pair started the local correction (ii) of [v] of 3 and by now has completed only the impulse a of (ii) of [v] inside it. In the future, the pair is expected to complete this descending correction.



 
RoboForex Analytical Department