Analysis for April 9th, 2015
EUR USD, “Euro vs US Dollar”
Euro is about to finish
horizontal triangle inside wave
[iv] of 3, which may be followed by another descending movement inside wave
[v] of 3 to pass 1.0500.
Most likely, the pair has finished (or is finishing)
zigzag inside wave
(d) of [iv] of 3 and in the nearest future may form wave
(e) of [iv] of 3 and complete the whole correctional structure.
GBP USD, “Great Britain Pound vs US Dollar”
The situation is still unclear as the price continues moving sideways and this movement looks like a correction. Nevertheless, until the pair breaks the critical level, the main scenario remains the same: the market is starting a significant descending movement inside wave
[iii] of 3.
Most likely, the pair has completed waves
i of (iii) and
(ii) of [iii] of a larger wave
[iii] of 3. In the nearest future, the market is expected to start falling very fast.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming first and second waves inside
[iii] of 3, which may be followed by a new growth.
Most likely, the pair has completed wave
(i) of [iii] of 3 and right now is expected to form a local correction inside wave
(ii) of [iii] of 3. Alter, the price may continue growing.
USD CAD, “US Dollar vs Canadian Dollar”
The chart structure has been changed a bit, but the main scenario remains the same. Most likely, the price has just completed wave
[4] of iii with wave
(A) of [4] in the form of
wedge inside it. The market is expected to start a strong ascending movement inside wave
[5] of iii towards 1.2950 – 1.3000.
So, after finishing wave
[4] of iii, the price has formed impulse
(1) of [5] of iii and right now is expected to start a local correction inside wave
(2) of [5] of iii. After this local correction, the market may start a long and strong ascending movement inside wave
(3) of [5] of iii.
RoboForex Analytical Department