Analysis for March 11th, 2015
EUR USD, “Euro vs US Dollar”
Euro continues falling inside wave
(v) of [iii]. Right now, the pair is forming a long
double extension inside the third wave, that’s why in the nearest future the market is expected to continue moving downwards.
Probably, wave
iii of (v)of [iii] is taking the form of
double extension. The price is moving precisely inside a descending channel. In the nearest future, the market is expected to start a sideways movement inside wave
[4] of iii of (v).
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming a large descending impulse
5 of (1), which may be completed quite soon. After finishing the current sideways movement, the price may continue falling.
Most likely, the current price movement inside a horizontal channel may be described as
horizontal triangle inside wave
[iv] of 5 of (1). In the nearest future, the pair may is expected to continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”
Most likely, Yen has completed wave
3 of (5) of [5], as well as the correction inside wave
4 of (5) of [5], At the moment, the market is expected to start a new ascending movement.
So, probably the pair has finished wave
4 of (5) of [5], as well as the first five-wave ascending structure inside wave
5 of (5) of [5]. In the future, the market is expected to reach a new local high.
USD CAD, “US Dollar vs Canadian Dollar”
It looks like the pair has finished wave
1 of (5) of [3] just now and later is expected to start a local correction inside wave
2 of (5) of [3], which may take the form of
zigzag.
Probably, wave
1 of (5) of [3] is taking the form of
leading diagonal triangle with an
extension inside its first wave. In the nearest future, the price is expected to fall and form
zigzag inside wave
2 of (5) of [3].
RoboForex Analytical Department