Analysis for March 10th, 2015
EUR USD, “Euro vs US Dollar”
Euro continues reaching new lows inside a large descending impulse
(v) of [iii]. Right now, the pair is forming a long
extension inside wave
iii of (v). In the nearest future, the market is expected to complete the third wave and start a sideways correction inside wave
iv of (v).
Probably, the price hasn’t completed wave
iii of (v)of [iii] yet. In the future, the market is expected to reach new local minimums.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound has finished wave
[iii] of 5 of a large descending impulse
5 of (1). At the moment, the pair is expected to form a local correction, after which the market may continue moving downwards.
Probably, Pound has completed wave
[iii] of 5 of (1) and right now is expected to form a correction inside wave
[iv] of 5 of (1). Most likely, the fourth wave will take the form of
zigzag. Later, the pair may continue falling.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing inside wave
3 of (5) of [5]; the assumption that the wave is already completed hasn’t been confirmed yet. In the nearest future, the price is expected to reach a new local high, finish wave
3 of (5) of [5], and start a sideways correction inside wave
4 of (5) of [5].
The pair continues reaching new highs inside wave
3 of (5) of [5]. Most likely, the market may reach a new local high in the nearest future and start a horizontal correction inside wave
4 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
After finishing a correctional
zigzag inside wave
2 of (5) of [3], the price has started growing inside a larger ascending impulse
3 of (5) of [3]. The pair is expected to continue moving upwards.
Most likely, the pair has finished its correctional movement inside wave
2 of (5) of [3]. Right now, the price is forming a large ascending wave
3 of (5) of [3], which may take at least several trading sessions.
RoboForex Analytical Department