Wave Analysis 02.06.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

02.06.2015

Analysis for June 2nd, 2015

EUR USD, “Euro vs US Dollar”

Euro is about to finish wave (iv) of [i] of 1 of a descending impulse inside wave [i] of 1 of (3). The pair is expected to reach a new local low and complete this five-wave descending structure.



Probably, wave (iv) of [i] of 1 is taking the form of horizontal triangle, which lacks waves d of (iv) of [i] and e of (iv) of [i]. After forming a correctional wave, the price is expected to move downwards.




GBP USD, “Great Britain Pound vs US Dollar”

The structure of waves at the H4 chart is very complicated. Probably, the price has finished wave [i] of 1 of (3) and in the nearest future may start a short-term correction inside wave [ii] of 1 of (3). However, disproportion between waves (ii) of [i] of 1 and (iv) of [i] of 1 raises many questions. I expect the situation to be cleared up.



Most likely, the price has finished the first five-wave descending structure inside wave [i] of 1 of (3) and in the nearest future may start forming an ascending zigzag inside wave [ii] of 1 of (3).




USD JPY, “US Dollar vs Japanese Yen”

The price has finished wave 1 of (5) of [5] and in the nearest future may form a descending correction inside wave 2 of (5) of [5]. After that, the market may continue moving upwards.



The pair has completed impulse inside wave 1 of (5) of [5] and in the nearest future may form a descending zigzag inside wave 2 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

The price has finished wave (i) of [v] of 3 of a larger ascending wave. In the nearest future, the market may form a correction inside wave (ii) of [v] of 3.



The pair has completed wave (i) of [v] of 3 and in the nearest future may start forming a correction inside wave (ii) of [v] of 3 in the form of a descending zigzag.



 
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.

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