Wave Analysis 02.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

02.03.2015

Analysis for March 2nd, 2015

EUR USD, “Euro vs US Dollar”

After finishing horizontal triangle inside wave (iv) of [iii], Euro has formed the first five-wave structure of a larger descending impulse inside wave (v) of [iii]. Most likely, by now the market has completed only the first wave i of (v) of [iii], and at the moment the price is expected to start a correction.



After making a fast descending movement and leaving horizontal triangle inside wave i of (v) of [iii], the price is probably forming a correction inside wave ii of (v) of [iii], which may take the form of flat.




GBP USD, “Great Britain Pound vs US Dollar”

So, after finishing ending diagonal inside wave [c] of 4 of (1), the price has started a new descending movement inside wave 5 of (1). In the nearest future, the market may continue moving downwards.



Probably, the pair has finished the first impulse [i] of 5 of (1) of a more serious descending movement and a correction inside wave [ii] of 5 of (1) in the form of expanded flat. In the future, Pound may continue falling.




USD JPY, “US Dollar vs Japanese Yen”

Yen continues growing inside a large ascending impulse 3 of (5) of [5]. In the nearest future, the price is expected to stay above 120.00 and then continue moving upwards.



Probably, the price is about to finish the first impulse (i) of [iii] of 3 of a more serious ascending movement. Most likely, after completing a correction inside wave (ii) of [iii] of 3, the pair will continue growing above 120.00.




USD CAD, “US Dollar vs Canadian Dollar”

After finishing horizontal triangle inside wave (4) of [3], the pair is expected to start a strong ascending movement inside wave (5) of [3]. Probably, the market has already formed the first five-wave structure of the above-mentioned wave. The price is expected to continue moving upwards.



After completing horizontal triangle inside wave (4) of [3], the pair has formed a five-wave ascending structure inside wave 1 of (5) of [3] and a correction inside wave 2? of (5) of [3]. In the future, the price is expected to continue growing.
 



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