Wave Analysis 11.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
11.05.2015
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
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.