Wave Analysis 03.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

03.03.2015

Analysis for March 3rd, 2015

EUR USD, “Euro vs US Dollar”

Euro is still forming an impulse inside a large descending wave (v) of [iii]. Most likely, in the nearest future, the market may continue falling and stay below 1.1100.



Probably, the pair has already completed a correctional wave ii of (v) of [iii] in the form of running flat. In the nearest future, the market is expected to move downwards and stay below the confirming level at 1.1158.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming a large descending impulse inside wave 5 of (1). The pair is moving below the critical level and in the nearest future is expected to continue moving downwards.



Probably, the pair has finished a correctional wave [ii] of 5 of (1) in the form of expanded flat. In the future, Pound is expected to continue falling inside wave [iii] of 5 of (1) and stay below 1.5300.




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has already completed the first three waves of a large ascending impulse 3 of (5) of [5]. In the nearest future, the price is expected to stay above 120.00.



Most likely, the price has finished wave (i) of [iii] of 3 and right now is forming a correctional pattern inside wave (ii) of [iii] of 3. The pair is expected to consolidate in the range between 119.25 – 119.45 and then start forming a new ascending movement inside a larger impulse.




USD CAD, “US Dollar vs Canadian Dollar”

After finishing horizontal triangle inside wave (4) of [3], the pair is in no hurry to grow fast, although it has already formed the first impulse inside wave (5) of [3]. The price is expected to continue moving upwards.



Most likely, the pair has finished a correctional wave 2 of (5) of [3] and right now is forming a large ascending impulse inside wave 3 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.

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