Wave Analysis 19.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
19.05.2015
Analysis for May 19th, 2015
EUR USD, “Euro vs US Dollar”
Most likely, Euro has finished expanded flat inside wave (2) of [C] and right now is forming a large descending impulse inside a long wave (3) of [C].
Wave [v] of C of (2) has taken the form of diagonal triangle. Right now, the pair is forming wave [i] of 1 of (2) of a large descending impulse.
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound hasn’t finished expanded flat inside wave (2) of [3] yet. In the nearest future, the market is expected to reach a new local high.
The situation is quite unclear – most likely, the pair is being corrected inside wave (iv) of [v] of C, after which the price may reach a new local high.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues forming horizontal triangle inside wave (4) of [5]. Probably, wave E of (4) of this pattern is also taking the form of horizontal triangle.
Most likely, the pair has finished wave [d] of E of (4), which may be followed by a descending zigzag inside wave [e] of E of (4). After that, the market may continue growing inside wave (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
The price continues forming an ascending impulse inside wave (i) of [v] of 3, which may be followed by a short-term correction inside wave (ii) of [v] of 3.
The fast ascending movement made by the price yesterday has confirmed the scenario, which implies that the pair is forming an ascending impulse inside wave (i) of [v] of 3. In the future, the market is expected to continue growing.
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