Wave Analysis 27.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

May 27, 2015

EUR USD, “Euro vs US Dollar”

Euro continues falling inside a large descending impulse (3) of [C]. Right now, the price is extending wave[iii] of 1 of (3). In the future, the market is expected to continue moving downwards.

Probably, the price has formed three 1-2 patterns in a row, and after finishing an ascending zigzag inside wave ii of (iii) of [iii], it may continue falling. However, if the correction becomes deeper, this ascending zigzag will be marked as wave (ii) of [iii] of 1.

GBP USD, “Great Britain Pound vs US Dollar”

The price continues falling, but not as fast as in other USD currency pairs. Probably, in the nearest future the market may reach several new local lows while forming wave [iii] of 1 of (3).

Just like in case of Euro, the pair has probably completed the third consecutive 1-2 pattern. After finishing wave ii of (iii) of [iii] in the form of an ascending zigzag, the market may continue falling.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming an ascending impulse inside wave (5) of [5]. Probably, right now the market isextending wave 3 of (5) of [5]. Later, the market is expected to continue growing.

It looks like the pair is still forming wave [iv] of 3 of (5), the form of which isn’t quite clear yet. Most likely, in the nearest future the market will continue moving upwards inside wave [v] of 3 of (5).

USD CAD, “US Dollar vs Canadian Dollar”

The price is still moving upwards inside wave [v] of 3. Right now, the pair is extending wave (iii) of [v] of 3. In the future, the market is expected to continue growing.

The price is moving inside an ascending channel and extending wave (iii) of [v] of 3. Right now, the pair is forming wave iv of (iii) of [v]. After completing it, the market may continue moving upwards and form wave v of (iii) of [v].

RoboForex Analytical Department

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