Wave Analysis 20.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
20.05.2015
Analysis for May 20th, 2015
EUR USD, “Euro vs US Dollar”
Euro continues forming a large descending impulse inside wave (3) of [C]. Probably, right now, the pair is finishing wave [i] of 1 of (3).
Probably, the price is about to complete wave [i] of 1 of (3), which may be followed by a short-term ascending zigzag inside wave [ii] of 1 of (3).
GBP USD, “Great Britain Pound vs US Dollar”
Pound has finished expanded flat inside wave (2) of [3] yet and right now is forming wave (3) of [3].
Probably, in the nearest future the price may complete wave [i] of 1 of (3) of a large descending impulse. The market is expected to reach a new local high and complete the first five-wave descending structure.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished horizontal triangle inside wave (4) of [5] with wave E of (4) inside it also in the form of horizontal triangle. In the nearest future, the market is expected to continue growing inside wave (5) of [5].
It looks like the pair is about to finish wave 1 of (5) of [5], which may be followed by a descending zigzag inside wave 2 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
The price continues forming wave (i) of [v] of 3 of a large ascending impulse. After finishing the local correction inside wave (ii) of [v] of 3, the pair is expected to start a long-term ascending movement to pass 1.3000.
It looks like the pair is about to wave (i) of [v] of 3, which may be followed by a short-term zigzag inside wave (ii) of [v] of 3. In the future, the market is expected to continue growing.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.