Analysis for April 17th, 2015
EUR USD, “Euro vs US Dollar”
The correction inside wave
(ii) of [v] of 3 hasn’t completed yet, and in the nearest future the market is expected to reach a new local low and finish this correctional pattern.
Euro continues forming
double zigzag inside wave
(ii) of [v] of 3. In the nearest future, the market is expected to finish wave
[B] of y of (ii) and impulse
[C] of y of (ii).
GBP USD, “Great Britain Pound vs US Dollar”
In case of Pound, the chart structure has changed a little bit. Probably, the pair is about to finish impulse
[c] of 2 of (3) inside wave
2 of (3), which is taking the form of
flat (right now it’s early to say whether it is
expanded or
running).
The price is forming an ascending impulse inside wave
[c] of 2 of (3). To complete this impulse, the pair must form two smaller impulses inside it. In the nearest future, the price is expected to reach a new local high.
USD JPY, “US Dollar vs Japanese Yen”
Over the last 24 hours Yen has been moving very slowly inside a horizontal channel. In the nearest future, the market is expected to reach a new local low (without breaking the critical level – red line on the chart) and complete the whole correctional structure inside wave
[ii] of 3 of (5).
The pair is about to complete
double zigzag with
horizontal triangleb of (y) of [ii] inside it. Later, the pair is expected to reach a new local low and continue growing inside wave
[iii] of 3 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
The pair continues forming wave
[4] of iii in the form of a descending
zigzag. In the nearest future, the pair is expected to complete this correctional wave and start growing inside wave
[5] of iii.
Probably, the price hasn’t completed impulse
(C) of [4] of iii yet. In the nearest future, the pair is expected to reach a new local low.
RoboForex Analytical Department