22 June, 2015
EUR USD, “Euro vs US Dollar”
There are several possible scenarios, which imply different correctional patterns inside wave (B) of [Y]. Taking into account DX and other US Dollar currency pairs, we may assume that Euro is forming wave [c] of Y of (B) of double zigzag inside wave (B) of [Y]. In the future, the market is expected to continue moving upwards.
After finishing horizontal triangle inside wave [b] of Y of (B), the pair has formed wave (i) of [c] of Y and a descending double three inside wave (ii) of [c] of Y. In the nearest future, the market is expected to start a new ascending movement inside wave (iii) of [c] of Y.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming the correction inside wave (2) of  in the form of zigzag. Right now, the price is forming “leg” C of this zigzag, wave (iii) of [iii] of C to be exact, which may be extended. In the future, the market is expected to continue growing.
The price is still moving sideways, which is yet more proof that it is forming a horizontal correction. Probably, Pound may form a horizontal triangle, after which it may continue growing and complete wave (iii) of [iii] of C.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues forming wave 2 of (5) of , which may be followed by a fast ascending movement inside wave3 of (5) of .
Probably, the pair has already completed wave (b) of [y] of 2 and right now is making the final descending movement inside wave (c) of [y] of 2. The market is expected to reach a new local low.
USD CAD, “US Dollar vs Canadian Dollar”
Similar to Yen, Canadian Dollar is still forming wave (ii) of [v] of 3 in the form of double zigzag, which may be followed by a new ascending movement inside wave (iii) of [v] of 3. At the same time, there is an alternative scenario, which implies that the market has already completed wave (ii) of [v] of 3. The situation will be cleared up within the next couple of days.
In order to finish wave (ii) of [v] of 3, the price must reach a new local low inside wave [C] of y of (ii). The market is expected to continue falling.
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...
|8||Fort Financial Services||67%|