Wave Analysis 01.06.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

01.06.2015

Analysis for June 1st, 2015

EUR USD, “Euro vs US Dollar”

Euro continues forming a five-wave structure [i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to complete this structure and start a short-term correction inside wave [ii] of 1 of (3).



The price is moving inside a descending channel and, probably, rebounding from its upper border. In the nearest future, the market is expected to finish wave (v) of [i] of 1 and start a short-term correction.




GBP USD, “Great Britain Pound vs US Dollar”

The price is about to finish wave [i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to reach a new local low, complete wave [i] of 1 of (3), and start a short-term correction inside wave [ii] of 1 of (3).



The structure of the H1 chart is quite complicated. Probably, wave (iv) of [i] of 1 is taking the form of flat, after which the price may continue falling and finish wave [i] of 1 of (3).




USD JPY, “US Dollar vs Japanese Yen”

In case of Yen, the situation is similar to other USD currency pairs – the price has only formed the first five-wave ascending structure of a larger ascending wave, (5) of [5]. In the nearest future, the market is expected to complete wave 1 of (5) of [5].



Probably, the pair has finished wave [iv] of 1. In the nearest future, the market is expected to complete wave [v] of 1 and start a short-term correction inside wave 2 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

The price is about to finish wave (i) of [v] of 3, which may be followed by a short-term correction inside wave (ii) of [v] of 3.



The assumption that the price finished wave iv of (i) hasn’t been confirmed yet, but in the nearest future, the market is expected to grow a bit and reach a new local high inside wave v of (i) of [v].



 
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.

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