Analysis for February 18th, 2015
The sideways movement of the price forces us to change the current scenario a bit: probably, after completing wedge inside wave i of (v) of [iii], Euro formed a correction in the form of zigzag inside wave ii of (v) of [iii]. In the near term, the pair is expected to form a descending impulse inside wave iii of (v) of [iii].
EUR USD, “Euro vs US Dollar”
The critical level has moved a bit upwards and right now it’s at 1.1531. At the moment, the pair is expected to start a new descending movement and stay below the confirming level at 1.1269.
GBP USD, “Great Britain Pound vs US Dollar”The pair continues forming double zigzag inside wave 4 o (1). By now, the pair may have finished wave (b) of [y] of 4 and is expected to start an ascending five-wave structure inside wave (c) of [y] of 4.
Most likely, the price has completed wave (b) of [y] in the form of zigzag. In the nearest future, the market may be able to stay above 1.5440 and 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  in the form of zigzag. Right now, the market is forming first impulses inside a larger and stronger wave 3 of (5) of . The pair is expected to continue growing.
After finishing zigzag inside wave 2 of (5) of , the price formed the first impulse (i) of [i] of 3 of the third wave, which may be extended. In the near term, the market is expected to stay above 119.50.
USD CAD, “US Dollar vs Canadian Dollar”The pair has almost finished zigzag inside (4) of ; one thing left to do for the price is to reach a new local low. In the nearest future, the trend is expected to reverse upwards and start a new ascending movement inside wave (5) of .
Probably, wave [v] of C of (4) may be taking the form of ending diagonal. In the near term, the pair is expected to reach a new local low and then start growing. This scenario will be confirmed after the market is able to stay above the confirming level at 1.2489.
RoboForex Analytical Department
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