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Wave Analysis 09.02.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for February 9th, 2015

EUR USD, “Euro vs US Dollar”

The local trend is getting stronger. Probably, Euro has completed another impulse inside wave (v) of [iii]. In the nearest future, the pair is expected to continue falling towards 1.09.

So, the pair hasn’t been able to break the critical level at 1.1553; the market has formed another wave inside a large descending movement. Most likely, the price has finished wave [1]? of iii of (v) of [iii]. After breaking the local minimum, the pair is expected to continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

Probably, the price has finished wave 4 of (1). Most likely, a correctional wave has taken the form of double zigzag. This scenario hasn’t been confirmed yet, but it will be if the market continues falling.

After finishing wave 4 of (1), the market has completed the first impulse [i]? inside wave 5 of (1). If the pair breaks the confirming level at 1.5209, the price will continue moving downwards.

USD JPY, “US Dollar vs Japanese Yen”

The pair has finally left horizontal triangle inside wave (4) of [5]. The pair has broken the pattern upwards, just as we expected, and right now is forming wave (5) of [5]. The market is expected to continue moving upwards and pass 120.0.

Most likely, right now the pair is forming only the first impulse 1 inside wave (5) of [5]. The first was hasn’t been completed yet, in order to do that, the pair has to reach a new local low. In the nearest future, the market is expected to complete wave 1 of (5) of [5], form a correction inside wave 2 of (5) of [5], and start a strong ascending movement to pass 120.0.

USD CAD, “US Dollar vs Canadian Dollar”

Most likely, the market has finished wave (4) of [3] in the form of truncated zigzag. After a local pullback inside wave 2? of (5) of [3], the price is expected to continue moving upwards.

The price has completed wave (4) of [3] and then formed the first impulse 1? of (5) of [3]. Most likely, after a local pullback, the market may continue growing. The target level is at 1.2862 (equality of waves (1) and (5) of impulse [3]).

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