Wave Analysis 31.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for March 31^st, 2015

EUR USD, “Euro vs US Dollar”

Euro is still falling inside wave (iii) of [v] of 3. Most likely, in the nearest future, the price will continue falling and stay below 1.0500.



It’s quite difficult to define the structure of the first wave of impulse (iii) of [v], but the pair is falling according to the main forecast. In the future, the market is expected to continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

The price is in no hurry to make serious descending movement, that’s why if it doesn’t start moving downwards according to the main forecast (falling inside wave [iii] of 3) in the next 24 hours, I’ll turn to an alternative scenario, which implies that the market may form a more complicated structure inside wave 2 of (3).



The market continues falling inside wave (iii) of [iii] and in the nearest future may reach new local lows.

USD JPY, “US Dollar vs Japanese Yen”

Probably, the price is about to finish the first impulse [i] of 3 of a large five-wave ascending structure inside wave 3 of (5) of [5]. In the nearest future, the pair is expected to complete the first wave and form a descending zigzag inside wave [ii] of 3 of (5).



Probably, the pair hasn’t finished wave [i] of 3 of (5), but we expect it in the nearest future. After completing the first impulse, the market may fall towards 119.60 – 120.00 inside wave [ii] of 3 of (5).

USD CAD, “US Dollar vs Canadian Dollar”

The market continues growing inside wave (1) of [5]. After a short-term correction inside wave (2) of [5], the pair is expected to start a strong ascending movement inside wave (3) of [5] towards 1.3000.



The pair is moving close to 1.2700 and may finish wave (1) of [5] in this area. Most likely, after that the market will form a descending zigzag inside wave (2) of [5].



 
RoboForex Analytical Department