Analysis for February 19th, 2015
The sideways movement of the price forces us to change the structure of wave (iv) of [iii] a little bit: probably, this correctional wave is taking the form of horizontal triangle and may be completed quite soon. In the nearest future, the pair is expected to fall inside wave (v) of [iii].
EUR USD, “Euro vs US Dollar”
It looks like the pair has completed all waves of horizontal triangle (iv) of [iii], and may start a new descending movement towards 1.0900.
GBP USD, “Great Britain Pound vs US Dollar”The pair has (almost) completed double zigzag inside wave 4 o (1). In the near term, the pair may start a new descending movement inside wave 5 of (1) towards 1.4950.
The price has (almost) completed wave (c) of [y] of 4 of (1). In the nearest future, the market is expected to reverse inside wave 5 of (1). This scenario will be confirmed only after is able to stay below the confirming level at 1.5315.
USD JPY, “US Dollar vs Japanese Yen”In case of Yen, the situation hasn’t changed over the last 24 hours. The price is still forming a new ascending impulse inside wave (5) of . In the nearest future, the pair is expected to continue growing.
Most likely, the pair has finished wave (ii) of [i] of 3 in the form of expanded flat (3-3-5). The critical level here is at 118.23. In the near term, the market is expected to continue growing and stay above 120.00.
USD CAD, “US Dollar vs Canadian Dollar”Considering that wave C of (4) hasn’t grown higher than the top of wave A of (4), we might turn to an alternative scenario, which implies that wave (4) of  is a possible horizontal triangle. In the nearest future, the market is expected to form waves D of (4) and E of (4), and then continue growing inside wave (5) of .
So, the pair has completed waves A of (4), B of (4), and C of (4) of a possible horizontal triangle. In the near term, the price is expected to start forming an ascending zigzag inside wave D of (4).
RoboForex Analytical Department
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