Analysis for June 11th, 2015
EUR USD, “Euro vs US Dollar”
Euro is still being corrected inside wave
(B) of [Y]. Probably, right now, the pair is forming the “leg”
[c] of Y of (B) of
zigzag inside
double three. In the future, the pair is expected to continue growing.
The pair has finished wave
(i) of [c] of Y and right now is being corrected inside wave
(ii) of [c] of Y. Later, the market is expected to continue moving upwards.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, the correction inside wave
(2) of [3] is also taking the form of
double three (the same as Euro). It looks like the pair is about to complete the correction
[x] of X of (2) inside
double zigzagX of (2) of [3]. In the future, the market is expected to make a short-term ascending movement.
The pair is finishing wave
iv of (c) of [x], which may be followed by a short-term ascending movement inside wave
v of (c) of [x].
USD JPY, “US Dollar vs Japanese Yen”
The situation isn’t changing. Most likely, Yen is forming the first five-wave descending structure inside a larger descending impulse. The pair is expected to complete wave
1 of (1) of [A] and then the correction inside wave
2 of (1) of [A].
The pair is about to finish a horizontal correction inside wave
[iv] of 1 of (1), which may be followed by a descending movement inside wave
[v] of 1 of (1).
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is still being corrected inside wave
(ii) of [v] of 3, which may be completed in the nearest future. After finishing the correction, the market is expected to continue growing inside wave
(iii) of [v] of 3.
The pair has completed wave
[4] of c of (ii). In the nearest future, the market is expected to reach a new local low while forming wave
[5] of c of (ii).
RoboForex Analytical Department