Analysis for February 13th, 2015
Euro continues moving its critical level of 1.1497, which means that the main scenario is still in effect. So, in the nearest future the price is expected to break the confirming level at 1.1269 and then continue falling. However, an alternative scenario (colored in gray) implies that if the price is able to stay above 1.1497, it may continue growing inside double zigzag of wave (iv) of [iii].
EUR USD, “Euro vs US Dollar”
It looks like the correction inside wave  of iii of (v) of [iii] is becoming a bit deeper, but the main scenario remains the same. In the nearest future, the price is expected to form a descending impulse  of iii of (v) of [iii]. This scenario will be confirmed if the market breaks the confirming level at 1.1269.
GBP USD, “Great Britain Pound vs US Dollar”After breaking its critical level, Pound started moving according to an alternative scenario. So, right now, wave 4 of (1) is taking the form of double zigzag (w)-(x)-(y) and hasn’t been completed yet. The confirming level for the further descending movement is at 1.5194.
Probably, the pair has completed double zigzag inside wave 4 of (1). In this case, today the market may start forming the first five-wave structure inside wave 5 of (1). If the pair is able to stay below the confirming level at 1.5194, it will be a sign that it may continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”Pullback inside wave [ii] of 3 has turned out to be quite fast and deep. At the same time, the price hasn’t broken the critical level, so we don’t have to change the main scenario, which implies that the pair may be forming a new ascending impulse inside wave [iii] of 3 of (5) of . An alternative scenario (colored in gray) suggests that the pair has only finished horizontal triangle inside wave (4) of , and right now is starting a new ascending movement. In both cases, the market is expected to grow in the nearest future.
Most likely, the correction inside wave [ii] of 3 has taken the form double zigzag (w)-(x)-(y). In the near term, the market is expected to start an ascending five-wave structure inside wave [iii] of 3 of (5) of . The pair is too close to the critical level, which means that an alternative scenario (colored in gray at the H4 chart) may yet happen.
USD CAD, “US Dollar vs Canadian Dollar”The price has got very close to the critical level while forming wave 2 of (5) of , but hasn’t broken it. In the near term, the pair is expected to start a new ascending movement inside wave 3 of (5) of . However, an alternative scenario (colored in gray) implies that the price may continue forming zigzag inside wave (4) of . This alternative scenario may become the main one if the market stays below 1.2426.
The correction inside wave 2 of (5) of  has turned out to be quite deep, but the pair hasn’t broken its critical level. So, the pair is expected to start a new ascending movement and form a larger impulse 3 of (5) of .
RoboForex Analytical Department
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