Analysis for June 12th, 2015
EUR USD, “Euro vs US Dollar”
Euro is still forming
double three inside wave
(B) of [Y]. Probably, right now, the pair is forming an ascending
zigzag inside this
double three. In the future, the pair is expected to continue growing.
The pair has finished wave
(ii) of [c] of Y. Later, the market is expected to continue moving upwards inside wave
(iii) of [c] of Y.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming
double three inside wave
(2) of [3]. It looks like right now the pair is forming wave
[x] of X of (2). In the future, the market is expected to reach a new local high.
The pair is finishing an ascending impulse inside wave
(c) of [x] of X, which may be followed by a descending
double three inside wave
[y] of X of (2).
USD JPY, “US Dollar vs Japanese Yen”
Considering the dynamics of the current descending correction, we should turn to a scenario, according to which Yen has completed only wave
1 of (5) of [5] and right now is being corrected inside wave
2 of (5) of [5]. However, an alternative scenario (colored in gray implies) that the market is forming
double zigzag inside wave
2 of (5) of [5].
Probably, the pair has finished wave 2 of (5) of [5] and in the nearest future may start forming the first ascending impulse,
[i] of 3 of (5), and a short-term correction inside wave
[ii] of 3 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is still being corrected inside wave
(ii) of [v] of 3. Right now, the pair is completing its “leg”
c of (ii) of [v]. In the nearest future, the market is expected to reach a new local low.
Probably, the pair has completed wave
[4] of c of (ii). In the nearest future, the market is expected to forma descending impulse inside wave
[5] of c of (ii).
RoboForex Analytical Department