Wave Analysis 06.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

06.05.2015

Analysis for May 6th, 2015

EUR USD, “Euro vs US Dollar”

Euro is about to complete the correction inside wave (2) of [C], which is taking the form of expanded flat. Most likely, in the nearest future the market is will reach a new local high.



Probably, Euro is about to complete wave [iv] of C of (2) in the form of double zigzag, after which the market is expected to grow inside wave [v] of C of (2) and complete the whole correctional pattern.




GBP USD, “Great Britain Pound vs US Dollar”

Most likely, Pound has finished wave 1 of (3) of [3] and right now is forming wave 2 of (3) of [3] in the form of an ascending zigzag.



Probably, the pair has completed only wave [a] of 2 of (3) of an ascending zigzag2 of (3) of [3]. In the nearest future, the market is expected to form wave [b] of 2 of (3) and impulse [c] of 2 of (3).




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has finished wave 1 of (5) of [5] and right now is forming wave 2 of (5) of [5], which may be followed by a fast ascending movement inside wave 3 of (5) of [5].



Most likely, wave 2 of (5) of [5] is taking the form of expanded flat. Probably, the pair hasn’t finished wave [c] of 2 of (5) yet.




USD CAD, “US Dollar vs Canadian Dollar”

Most likely, the pair has finished wave (ii) of [v] of 3, which may be followed by a serious ascending movement inside wave (iii) of [v] of 3 to pass 1.3000.



The price has completed a descending zigzag(ii) of [v] of 3. In the nearest future, the market is expected to start growing inside wave (iii) of [v] of 3.



 
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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