Analysis for June 4th, 2015
Euro is still being corrected inside wave 2 of (C) of [Y] of ending diagonal triangle: in order to complete the pattern, the pair needs one more short ascending movement. After that, the price is expected to start a descending zigzag inside wave 3 of (C) of [Y].
EUR USD, “Euro vs US Dollar”
The pair is about to finish wave [c] of 2 of (C) of ending diagonal triangle, which may be followed by a new descending movement.
GBP USD, “Great Britain Pound vs US Dollar”Probably, Pound has finished wave [ii] of 1 of (3) and right now is expected to start a strong descending movement inside wave [iii] of 1 of (3).
Probably, the price has completed an ascending zigzag inside [ii] of 1 of (3), which may be followed by another descending movement. We can be surer about this only after the price is able to stay below the confirming level (crimson line on the chart). At the same time, an alternative scenario implies that the market may yet continue moving inside wave [ii] of 1 of (3).
USD JPY, “US Dollar vs Japanese Yen”The price is still being corrected inside wave 2 of (5) of . Probably, after finishing this wave, the pair will continue moving upwards and form wave 3 of (5) of .
Probably, wave 2 of (5) of  is taking the form of double zigzag. After completing the pattern, the pair is expected to continue moving upwards.
USD CAD, “US Dollar vs Canadian Dollar”Probably, the price has finished wave (ii) of [v] of 3 and in the nearest future may resume moving upwards.
Most likely, the pair has completed wave (ii) of [v] of 3 in the form of a descending zigzag. In the nearest future, the market is expected to continue growing inside wave (iii) of [v] of 3. We can be surer about this only after the price is able to stay above the confirming level (crimson line on the chart).
RoboForex Analytical Department
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