Wave Analysis 03.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

03.04.2015

Analysis for April 3rd, 2015

EUR USD, “Euro vs US Dollar”

Euro continues moving sideways inside wave [iv] of 3 and we have to change the structure of this correctional pattern. Most likely, this wave is taking the form of horizontal triangle, after which the market may continue falling inside wave [v] of 3.



The pair is forming an ascending zigzag(c) of [iv] of 3 of horizontal triangle. In the nearest future, the market is expected to make a short-term ascending movement and then start forming wave (d) of [iv] of 3.




GBP USD, “Great Britain Pound vs US Dollar”

The price is still slightly volatile. Despite this, the main scenario remains the same and implies that after completing the correction inside wave (ii) of [iii] of 3, the pair is expected to start a fast descending movement inside wave (iii) of [iii] of 3.



Most likely, the correction inside wave (ii) of [iii] of 3 is taking the form of double zigzag, after which the price is expected to continue falling. This scenario will be confirmed only after the market stays below the confirming level (crimson line).




USD JPY, “US Dollar vs Japanese Yen”

The situation hasn’t changed over the last 24 hours. Most likely, the price has finished the correction inside wave [ii] of 3 of (5) and may start growing inside wave [iii] of 3 of (5).



Most likely, wave [ii] of 3 of (5) has taken the form of zigzag. In the nearest future, the price is expected to start growing and stay above 121.00.




USD CAD, “US Dollar vs Canadian Dollar”

The correction inside wave (2) of [5] of iii is taking too much time, but the main scenario remains the same and implies that in the nearest future the pair may continue moving upwards inside wave (3) of [5] of iii.



Probably, the pair is about to complete wave C of (2) of [5] of iii, may be in the form of ending diagonal triangle. After finishing the correction, the market is expected to start growing inside wave (3) of [5] of iii.



 
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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