Wave Analysis 01.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

01.05.2015

Analysis for May 1st, 2015

EUR USD, “Euro vs US Dollar”

Euro is still forming impulse C of (2) of [C]. In the nearest future, the market is expected to complete wave [iii] of C of (2) and start a horizontal correction inside wave [iv] of C of (2).



Euro is moving inside an ascending horizontal channel and in the nearest future may finish [iii] of C of (2).




GBP USD, “Great Britain Pound vs US Dollar”

The pair continues forming a strong impulse inside expanded flat(2) of [3]. Probably, by now the pair has already finished wave [iv] of C of (2).



Similar to Eurodollar, Pound continues moving sideways. Most likely, wave [iv] of C of (2) is taking the form of a descending zigzag. In the nearest future, the market is expected to start moving upwards inside wave [v] of C of (2).




USD JPY, “US Dollar vs Japanese Yen”

I’ve changed the structure at the H4 chart after Yen reached a new local low yesterday. It looks like wave (4) of [5] is taking the form of running triangle with a very wide and complicated wave B of (4) of [5] inside it. Most likely, in the nearest future the market will continue growing inside wave (5) of [5].



Probably, only yesterday Yen finished running triangle inside wave (4) of [5]. Right now, the pair is expected to complete a five-wave structure inside wave 1 of (5) of [5] and the correction inside wave 2 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

Probably, the pair has finished a large descending zigzag inside wave [iv] of 3 which may be followed by a strong ascending movement inside wave [v] of 3 to pass 1.3000.



Right now it’s quite difficult to identify the ascending movement, which is being made by the price from the critical level at 1.1944, that’s why the situation is still very unclear. The market is expected to form a five-wave ascending structure inside wave [v] of 3.



 
RoboForex Analytical Department

Attention!

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question