Analysis for February 17th, 2015
On Monday, Euro started moving according to the main scenario: in the nearest future, it is expected to fall lower than 1.0900 inside wave (v) of [iii]. If the pair continues moving sideways, wave (iv) of [iii] may transform into horizontal triangle.
EUR USD, “Euro vs US Dollar”
Most likely, the pair has completed wave  of iii of (v) of [iii], but this assumption hasn’t been confirmed yet. In the nearest future, the pair is expected to stay below 1.1267 inside wave  of iii of (v) of [iii].
GBP USD, “Great Britain Pound vs US Dollar”The pair continues forming double zigzag [w]-[y]-[z] of wave 4 o (1). The critical level here is at 1.5196. In the nearest future, the market may reach another local high.
Most likely, the price has completed wave (a) of [y] of 4 of (1) and right now is forming a correction inside wave (b) of [y] of 4 of (1). In the nearest future, the market may break a local high and then complete the whole correctional structure inside wave 4 of (1).
USD JPY, “US Dollar vs Japanese Yen”Most likely, the price has finished wave 2 of (5) of  and may start a new ascending movement. However, an alternative scenario implies that by now the market has only completed horizontal triangle inside wave (4) of . Nevertheless, in both cases, the pair is expected to continue growing.
It looks like wave [c] of 2 is taking the form of ending diagonal, which means that quite soon the trend may reverse. In the near term, the market is expected to stay above 120.00.
USD CAD, “US Dollar vs Canadian Dollar”The pair is forming wave C of zigzag (4) of . In the nearest future, the price may reach a new local low and reverse upwards. However, if the price continues moving sideways, wave (4) of  may transform into horizontal triangle.
Probably, the pair has almost completed impulse C of (4) of : it lacks one more wave, [v] of C of (4). It looks like wave [iv] of C of (4) is taking the form of running triangle. In the near term, the pair is expected to reach a new local low and then continue growing.
RoboForex Analytical Department
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