Analysis for March 2nd, 2015
EUR USD, “Euro vs US Dollar”
After finishing
horizontal triangle inside wave
(iv) of [iii], Euro has formed the first five-wave structure of a larger descending impulse inside wave
(v) of [iii]. Most likely, by now the market has completed only the first wave
i of (v) of [iii], and at the moment the price is expected to start a correction.
After making a fast descending movement and leaving
horizontal triangle inside wave
i of (v) of [iii], the price is probably forming a correction inside wave
ii of (v) of [iii], which may take the form of
flat.
GBP USD, “Great Britain Pound vs US Dollar”
So, after
finishing ending diagonal inside wave
[c] of 4 of (1), the price has started a new descending movement inside wave
5 of (1). In the nearest future, the market may continue moving downwards.
Probably, the pair has finished the first impulse
[i] of 5 of (1) of a more serious descending movement and a correction inside wave
[ii] of 5 of (1) in the form of
expanded flat. In the future, Pound may continue falling.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing inside a large ascending impulse
3 of (5) of [5]. In the nearest future, the price is expected to stay above 120.00 and then continue moving upwards.
Probably, the price is about to finish the first impulse
(i) of [iii] of 3 of a more serious ascending movement. Most likely, after completing a correction inside wave
(ii) of [iii] of 3, the pair will continue growing above 120.00.
USD CAD, “US Dollar vs Canadian Dollar”
After finishing
horizontal triangle inside wave
(4) of [3], the pair is expected to start a strong ascending movement inside wave
(5) of [3]. Probably, the market has already formed the first five-wave structure of the above-mentioned wave. The price is expected to continue moving upwards.
After completing
horizontal triangle inside wave
(4) of [3], the pair has formed a five-wave ascending structure inside wave
1 of (5) of [3] and a correction inside wave
2? of (5) of [3]. In the future, the price is expected to continue growing.
RoboForex Analytical Department