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Wave Analysis 01.06.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for June 1st, 2015

EUR USD, “Euro vs US Dollar”

Euro continues forming a five-wave structure [i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to complete this structure and start a short-term correction inside wave [ii] of 1 of (3).



The price is moving inside a descending channel and, probably, rebounding from its upper border. In the nearest future, the market is expected to finish wave (v) of [i] of 1 and start a short-term correction.




GBP USD, “Great Britain Pound vs US Dollar”

The price is about to finish wave [i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to reach a new local low, complete wave [i] of 1 of (3), and start a short-term correction inside wave [ii] of 1 of (3).



The structure of the H1 chart is quite complicated. Probably, wave (iv) of [i] of 1 is taking the form of flat, after which the price may continue falling and finish wave [i] of 1 of (3).




USD JPY, “US Dollar vs Japanese Yen”

In case of Yen, the situation is similar to other USD currency pairs – the price has only formed the first five-wave ascending structure of a larger ascending wave, (5) of [5]. In the nearest future, the market is expected to complete wave 1 of (5) of [5].



Probably, the pair has finished wave [iv] of 1. In the nearest future, the market is expected to complete wave [v] of 1 and start a short-term correction inside wave 2 of (5) of [5].




USD CAD, “US Dollar vs Canadian Dollar”

The price is about to finish wave (i) of [v] of 3, which may be followed by a short-term correction inside wave (ii) of [v] of 3.



The assumption that the price finished wave iv of (i) hasn’t been confirmed yet, but in the nearest future, the market is expected to grow a bit and reach a new local high inside wave v of (i) of [v].



 
RoboForex Analytical Department

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