Wave Analysis 10.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

10.03.2015

Analysis for March 10th, 2015

EUR USD, “Euro vs US Dollar”

Euro continues reaching new lows inside a large descending impulse (v) of [iii]. Right now, the pair is forming a long extension inside wave iii of (v). In the nearest future, the market is expected to complete the third wave and start a sideways correction inside wave iv of (v).



Probably, the price hasn’t completed wave iii of (v)of [iii] yet. In the future, the market is expected to reach new local minimums.




GBP USD, “Great Britain Pound vs US Dollar”

Most likely, Pound has finished wave [iii] of 5 of a large descending impulse 5 of (1). At the moment, the pair is expected to form a local correction, after which the market may continue moving downwards.



Probably, Pound has completed wave [iii] of 5 of (1) and right now is expected to form a correction inside wave [iv] of 5 of (1). Most likely, the fourth wave will take the form of zigzag. Later, the pair may continue falling.




USD JPY, “US Dollar vs Japanese Yen”

Yen continues growing inside wave 3 of (5) of [5]; the assumption that the wave is already completed hasn’t been confirmed yet. In the nearest future, the price is expected to reach a new local high, finish wave 3 of (5) of [5], and start a sideways correction inside wave 4 of (5) of [5].



The pair continues reaching new highs inside wave 3 of (5) of [5]. Most likely, the market may reach a new local high in the nearest future and start a horizontal correction inside wave 4 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

After finishing a correctional zigzag inside wave 2 of (5) of [3], the price has started growing inside a larger ascending impulse 3 of (5) of [3]. The pair is expected to continue moving upwards.



Most likely, the pair has finished its correctional movement inside wave 2 of (5) of [3]. Right now, the price is forming a large ascending wave 3 of (5) of [3], which may take at least several trading sessions.



 
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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