21 May, 2015
EUR USD, “Euro vs US Dollar”
Euro continues forming a large descending impulse inside wave (3) of [C]. Probably, right now, the pair is finishing wave [i] of 1 of (3).
Most likely, today the price may complete wave [i] of 1 of (3) with wave (iv) of [i] of 1 in the form of horizontal triangle inside it. The market is expected to reach a new local low and form a short-term ascending zigzag inside wave [ii] of 1 of (3).
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming a large descending impulse inside wave (3) of . Probably, by now the pair has already completed wave [i] of 1 of (3) of this impulse.
Taking into account that the correction inside wave [ii] of 1 of (3) is quite deep and taking a lot of time, we may assume that the price has already finished first impulse inside wave [i] of 1 of (3) and in the nearest future may continue falling.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues forming a large ascending impulse inside wave (5) of . Right now, the pair is about to complete wave 1 of (5) of .
Probably, in the nearest future the pair may reach a new local high and finish wave 1 of (5) of .
USD CAD, “US Dollar vs Canadian Dollar”
The price continues forming a large ascending impulse inside wave [v] of 3. Right now, the pair is finishing wave (i) of [v] of 3.
The pair has almost finished an ascending impulse inside wave (i) of [v] of 3. In the nearest future, the market is expected to reach a new local high, complete this five-wave pattern, and then form a short-term zigzag inside wave (ii) of [v] of 3.
RoboForex Analytical Department
Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...
Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...
The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...
Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...
Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...
After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...
Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...
Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...