17 June, 2015
EUR USD, “Euro vs US Dollar”
The situation hasn’t changed much. Euro is still forming double three inside wave (B) of [Y]. Probably, right now, the pair is forming wave X of (B) of [y].
The pair is still moving sideways and in the nearest future may start forming wave iii of (a) of [y]. we can be more sure about this only after the price stays below the confirming level. At the same time, if the market continues moving sideways and breaks the critical level, wave (B) may take the form of double zigzag and the pair may continue its short-term growth.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming double three inside wave (2) of . It looks like right now the pair is forming wave X of (2) of .
Probably, wave v of (c) of [x] has taken the form ending diagonal triangle and in the nearest future, the pair is expected to continue falling inside wave [y] of X of (2).
USD JPY, “US Dollar vs Japanese Yen”
The situation hasn’t changed much. Probably, Yen is forming wave [y] of 2 of (5) of double zigzag 2 of (5) of .
The pair is still moving sideways and in the nearest future may reach a new local low and finish wave [y] of 2 of (5). An alternative scenario (colored in gray) implies that the price may be falling and forming horizontal triangle [x] of 2 of (5).
USD CAD, “US Dollar vs Canadian Dollar”
It looks like Canadian Dollar is still being corrected inside wave (ii) of [v] of 3, which may take the form ofdouble zigzag. In the future, the market is expected to continue moving downwards.
Right now, the price is forming wave [C] of y of (ii). In the future, the market is expected to continue falling and reach a new local low.
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...