Analysis for March 9th, 2015
EUR USD, “Euro vs US Dollar”
Euro is still forming a large descending impulse
(v) of [iii]. Most likely, right now the pair is forming a long
extension inside wave
iii of (v). In the nearest future, the market is expected to continue falling.
It looks like the price has formed an extension
iii of (v) inside wave
(v) of [iii]. Probably, in the near term, the market may reach a new local minimum and continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming a large descending impulse
5 of (1). Most likely, the pair has formed an
extension inside this impulse in the future is expected to continue moving downwards.
It looks like the wave
(iii) of [iii] is taking an extended form and may be completed quite soon. Later, the pair is expected to continue falling and reach several new lows.
USD JPY, “US Dollar vs Japanese Yen”
So, after finishing
horizontal triangle inside wave
(4) of [5], the price has formed five-wave structures inside wave
(5) of [5]. Right now, the market is forming wave
3 of (5) of [5] and may continue growing in the nearest future.
Most likely, Yen has finished (or is finishing right now) wave
[iv] of 3. In the nearest future, the market is expected to reach a new local high and complete wave
3 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
The market has finished
horizontal triangle inside wave
(4) of [3] and right now is forming wave
(5) of [3]. Most likely, in the nearest future the price may continue growing inside this large impulse.
So, after completing
horizontal triangle, the pair has formed wave
1 of (5). Later, the market is expected to form a correctional wave
2 of (5) (may be in the form of
zigzag).
RoboForex Analytical Department