Wave Analysis 17.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for April 17^th, 2015

EUR USD, “Euro vs US Dollar”

The correction inside wave (ii) of [v] of 3 hasn’t completed yet, and in the nearest future the market is expected to reach a new local low and finish this correctional pattern.



Euro continues forming double zigzag inside wave (ii) of [v] of 3.  In the nearest future, the market is expected to finish wave [B] of y of (ii) and impulse [C] of y of (ii).

GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the chart structure has changed a little bit. Probably, the pair is about to finish impulse [c] of 2 of (3) inside wave 2 of (3), which is taking the form of flat (right now it’s early to say whether it is expanded or running).



The price is forming an ascending impulse inside wave [c] of 2 of (3). To complete this impulse, the pair must form two smaller impulses inside it. In the nearest future, the price is expected to reach a new local high.

USD JPY, “US Dollar vs Japanese Yen”

Over the last 24 hours Yen has been moving very slowly inside a horizontal channel. In the nearest future, the market is expected to reach a new local low (without breaking the critical level – red line on the chart) and complete the whole correctional structure inside wave [ii] of 3 of (5).



The pair is about to complete double zigzag with horizontal triangleb of (y) of [ii] inside it. Later, the pair is expected to reach a new local low and continue growing inside wave [iii] of 3 of (5).

USD CAD, “US Dollar vs Canadian Dollar”

The pair continues forming wave [4] of iii in the form of a descending zigzag. In the nearest future, the pair is expected to complete this correctional wave and start growing inside wave [5] of iii.



Probably, the price hasn’t completed impulse (C) of [4] of iii yet. In the nearest future, the pair is expected to reach a new local low.



 
RoboForex Analytical Department