Analysis for June 10th, 2015
Euro is forming wave (ii) of [c] of Y inside double three W-X-Y. After finishing the current correction, the pair is expected to continue growing. At the same time, an alternative scenario (colored in gray) implies that the market has formed double zigzag inside wave X of (B).
EUR USD, “Euro vs US Dollar”
Most likely, right now the pair forming a correction wave (ii) of [c] of Y, after which the market may continue growing inside wave [c] of Y of (B).
GBP USD, “Great Britain Pound vs US Dollar”Pound is still being corrected inside wave (iv) of [i] of 1, after the market is expected to fall and complete this five-wave descending structure.
So, the scenario with horizontal triangle may still be true despite the fact that the pair has moved very close to the critical level (the top of wave a of (iv)). In the nearest future, the market may start forming a descending zigzag inside wave d of (iv) of [i].
USD JPY, “US Dollar vs Japanese Yen”Probably, Yen has finished its ascending movement and right now is starting a new correction, which may take much time, may be several years. We suppose that right now the pair is forming the first impulse, 1 of (1) of [A], which may be followed by a correction inside wave 2 of (1). At the same time, an alternative scenario implies that inside wave (5) of , the market has only finished the first impulse, 1 of (5) of , and right now is forming a correction inside wave 2 of (5) of . After completing it, the price may start a strong ascending movement inside wave 3 of (5) of .
The pair is forming wave [iv] of 1 of (1) inside wave 1 of (1) of [A]. In the nearest future, the market is expected to reach a new local low and start forming a new correction inside wave 2 of (1) of [A].
USD CAD, “US Dollar vs Canadian Dollar”Canadian Dollar is still being corrected inside wave (ii) of [v] of 3, which is taking the form of zigzag. After finishing the correction, the market is expected to continue growing inside wave (iii) of [v] of 3.
The pair is extending wave c of (ii) of [v] and may finish it quite soon. In the nearest future, the market is expected to complete a descending zigzag inside wave (ii) of [v] of 3.
RoboForex Analytical Department
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