Wave Analysis 11.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

11.03.2015

Analysis for March 11th, 2015

EUR USD, “Euro vs US Dollar”

Euro continues falling inside wave (v) of [iii]. Right now, the pair is forming a long double extension inside the third wave, that’s why in the nearest future the market is expected to continue moving downwards.



Probably, wave iii of (v)of [iii] is taking the form of double extension. The price is moving precisely inside a descending channel. In the nearest future, the market is expected to start a sideways movement inside wave [4] of iii of (v).




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming a large descending impulse 5 of (1), which may be completed quite soon. After finishing the current sideways movement, the price may continue falling.



Most likely, the current price movement inside a horizontal channel may be described as horizontal triangle inside wave [iv] of 5 of (1). In the nearest future, the pair may is expected to continue moving downwards.




USD JPY, “US Dollar vs Japanese Yen”

Most likely, Yen has completed wave 3 of (5) of [5], as well as the correction inside wave 4 of (5) of [5], At the moment, the market is expected to start a new ascending movement.



So, probably the pair has finished wave 4 of (5) of [5], as well as the first five-wave ascending structure inside wave 5 of (5) of [5]. In the future, the market is expected to reach a new local high.




USD CAD, “US Dollar vs Canadian Dollar”

It looks like the pair has finished wave 1 of (5) of [3] just now and later is expected to start a local correction inside wave 2 of (5) of [3], which may take the form of zigzag.



Probably, wave 1 of (5) of [3] is taking the form of leading diagonal triangle with an extension inside its first wave.  In the nearest future, the price is expected to fall and form zigzag inside wave 2 of (5) 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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