Analysis for June 9th, 2015
EUR USD, “Euro vs US Dollar”
The correction at the H4 chart is becoming more complicated. Probably, wave
(B) of [Y] is taking the form of
double three (
flat +
zigzag). Right now, Euro is forming wave
[c] of Y of (B), after which it may continue moving downwards.
Probably, the pair is about to finish
(i) of [c] of Y, which may be followed by a short-term
zigzag inside wave
(ii) of [c] of Y. after that, the market is expected to continue falling.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues moving sideways and forming
horizontal triangle inside wave
(iv) of [i] of 1. After completing this correctional pattern, the market is expected to reach a new local low.
The price is about to finish
zigzagsc of (iv) of [i] and in the nearest future may complete two more
zigzags,
d of (iv) of [i] and
e of (iv) of [i]. Later, the market is expected to continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished wave
5 of (5) of [5], but right now it’s quite difficult to understand whether it is an extension of a more significant ascending movement or the completion of the global ascending impulse. The situation must be cleared up within the next couple of trading days.
The pair has completed wave
5 of (5) of [5], making the situation quite “cloudy”. So far, it’s not easy to say which direction the pair is going to move. I expected the situation to be cleared up in the nearest future.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is still being corrected inside wave
(ii) of [v] of 3, which may take the form of
double zigzag. Probably, in the nearest future the market may continue growing.
Most likely, wave
[C] of y of (ii) is taking the form of
ending diagonal triangle, which may be a signal that the pair may reverse upwards in the nearest future.
RoboForex Analytical Department