Analysis for July 10th, 2015
EUR USD, “Euro vs US Dollar”
The situation hasn’t changed much over the last 24 hours. Eurodollar is finishing a local correction inside a large descending impulse
[iii] of 1 of (C). Later, the market is expected to continue falling.
Probably, the pair completed wave
(ii) of [iii] of 1 and then formed
i-ii pattern inside wave
(iii) of [iii] of 1. Later, the price is expected to resume moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still falling inside a descending impulse
[iii] of 1 of (3). After finishing the current horizontal correction, the price is expected to continue falling.
The pair is about to finish wave
(iv) of [iii] of 1, which may be followed by another descending movement inside wave
(v) of [iii] of 1 and new local lows.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has completed wave
2 of (5) of [5] in the form of
double zigzag, which may be followed by an ascending wave
3 of (5) of [5].
After finishing a correctional wave
2 of (5) of [5], the pair has formed wave
(i) of [i] of 3. Most likely, in the nearest future the market may continue growing inside wave
(iii) of [i] of 3.
USD CAD, “US Dollar vs Canadian Dollar”
The chart structure has become more bullish. Probably, Canadian Dollar has finished the horizontal correction
iv of (iii) of [v] inside wave
(iii) of [v] of 3. After that, the market may continue growing and form wave
v of (iii) of [v].
Probably, the pair has finished the correction inside wave
iv of (iii) of [v], which may be followed by a new local high and a further growth inside wave
v of (iii) of [v].
RoboForex Analytical Department