Wave Analysis 09.06.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)


Analysis for June 9th, 2015

EUR USD, “Euro vs US Dollar”

The correction at the H4 chart is becoming more complicated. Probably, wave (B) of [Y] is taking the form of double three (flat + zigzag). Right now, Euro is forming wave [c] of Y of (B), after which it may continue moving downwards.   

Probably, the pair is about to finish (i) of [c] of Y, which may be followed by a short-term zigzag inside wave (ii) of [c] of Y. after that, the market is expected to continue falling.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues moving sideways and forming horizontal triangle inside wave (iv) of [i] of 1. After completing this correctional pattern, the market is expected to reach a new local low.

The price is about to finish zigzagsc of (iv) of [i] and in the nearest future may complete two more zigzags, d of (iv) of [i] and e of (iv) of [i]. Later, the market is expected to continue moving downwards.

USD JPY, “US Dollar vs Japanese Yen”

Yen has finished wave 5 of (5) of [5], but right now it’s quite difficult to understand whether it is an extension of a more significant ascending movement or the completion of the global ascending impulse. The situation must be cleared up within the next couple of trading days.

The pair has completed wave 5 of (5) of [5], making the situation quite “cloudy”. So far, it’s not easy to say which direction the pair is going to move. I expected the situation to be cleared up in the nearest future.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is still being corrected inside wave (ii) of [v] of 3, which may take the form of double zigzag. Probably, in the nearest future the market may continue growing.

Most likely, wave [C] of y of (ii) is taking the form of ending diagonal triangle, which may be a signal that the pair may reverse upwards in the nearest future.

RoboForex Analytical Department


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.