Wave Analysis 22.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
22.05.2015
Analysis for May 22nd, 2015
EUR USD, “Euro vs US Dollar”
Euro continues forming a short-term correction [ii] of 1 of (3), after which the pair may continue falling.
The price is forming wave (c) of [ii] of 1 of correction [ii] of 1 of (3), which is taking the form of an ascending zigzag.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has almost completed the correction inside wave [ii] of (3) of [3]. Later, the price is expected to continue falling inside wave [iii] of 1 of (3).
The pair has almost completed wave (c) of [ii] of 1 of an ascending zigzag inside [ii] of 1 of (3). After reaching a new local high, the market is expected to continue falling.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished impulse 1 of (5) of [5] and almost completed the correction inside wave 2 of (5) of [5]. Later, the market is expected to continue growing.
The correction inside wave 2 of (5) of [5] has taken the form of double zigzag. In the nearest future, the market is expected to continue moving upwards inside wave 3 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
The price is about to finish the correction inside wave (ii) of [v] of 3, after which it may continue growing inside wave (iii) of [v] of 3.
The correction inside wave (ii) of [v] of 3 is taking the form of double zigzag. After completing it, the market may continue moving upwards.
RoboForex Analytical Department
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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.