Wave Analysis 11.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for March 11^th, 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