Analysis for May 11th, 2015
EUR USD, “Euro vs US Dollar”
Most likely, Euro is starting the first five-wave descending structure inside wave
(3) of [C]. In the nearest future, the market is expected to finish wave
[i] of 1 of (3).
The pair is still falling and forming wave
[i] of 1 of (3). In the nearest future, the market is expected to continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound hasn’t finished
expanded flat inside wave
(2) of [3] yet. In order to complete the pattern, the price must reach another high.
The pair is still forming wave
C of (2). In order to complete this wave, the market must reach a new local high at least once.
USD JPY, “US Dollar vs Japanese Yen”
Most likely, Yen has finished wave
[i] of 3 of (5), after which it may continue growing inside wave
[ii] of 3 of (5).
Probably, wave
[ii] of 3 of (5) has taken the form of
expanded flat, which may be followed by an ascending movement inside wave
[iii] of 3 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
Probably, the pair has finished wave
(ii) of [v] of 3, which may be followed by a long ascending movement to pass 1.2500 and stay above it.
Probably, the price has completed wave
(ii) of [v] of 3 in the form of a descending
zigzag. Most likely, in nearest future, the market will continue growing inside wave
(iii) of [v] of 3.
RoboForex Analytical Department