Wave Analysis 21.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

May 21, 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 [3]. 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 [5]. Right now, the pair is about to complete wave 1 of (5) of [5].

Probably, in the nearest future the pair may reach a new local high and finish wave 1 of (5) of [5].

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.

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