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Wave Analysis 12.02.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for February 12th, 2015

EUR USD, “Euro vs US Dollar”

The price is moving below its critical without any particular direction. The main scenario still implies that in the nearest future the market may continue falling inside wave (v) of [iii] towards 1.0900.



The pair is still moving inside a narrow sideways channel. The critical level hasn’t been broken yet and it means that the price continues moving according to the main scenario: it is falling inside wave (v) of [iii], two impulses of which, i of (v) and [1] of iii, have already been completed.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is also moving according to the main scenario; the situation hasn’t changed. In the nearest future, the price is expected to continue falling inside wave 5 of (1).



Most likely, the pair has completed wave [i] of 5 of (1) in the form of wedge, and wave [ii] of 5 of (1) in the form of zigzag. In the future, the price is expected to break the critical level is at 1.5193 and continue moving downwards to pass 1.5000.




USD JPY, “US Dollar vs Japanese Yen”

Yen continues growing inside wave (5) of [5]. Most likely, after a short pullback inside wave [ii] of 3 of (5) of [5], the market will continue growing inside wave [iii] of 3 of (5) of [5].



In the near term, we can expect a local pullback towards 119.25 – 119.75 inside wave [ii] of 3 of (5) of [5]. If this pullback turns out to be deeper, we will probably have to change the chart structure a little bit, but without changing the main scenario (which implies the growth of the pair in the nearest future).




USD CAD, “US Dollar vs Canadian Dollar”

Most likely, wave (4) of [3] took the form of horizontal triangle, after which the price formed the first impulse 1 of (5) of [3] of a new ascending impulse. After a local pullback inside wave 2 of (5) of [3], the market is expected to continue growing.



After completing wave (4) of [3] in the form of horizontal triangle, the price has formed a five-wave structure inside wave 1 of (5) of [3]. In the near term, we can expect a pullback towards 1.2530 – 1.2585 and then a new growth. However, this ascending movement may be considered solid only after the market is able to stay above the confirming level at 1.2658. The critical level is at 1.2426: if the price breaks it, this scenario will be cancelled.



 
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