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Wave Analysis 27.02.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for February 27th, 2015

EUR USD, “Euro vs US Dollar”

So, on Thursday Euro left triangle downwards, just as we expected. Most likely, right now the pair is forming wave i of (v) of [iii] of a larger descending impulse. In the nearest future, after finishing a local correction inside wave ii of (v) of [iii], the price s expected to continue falling inside wave iii of (v) of [iii].



The structure of horizontal triangle inside wave (iv) of [iii] has changed a bit – most likely, wave e of (iv) was finished in the form of horizontal triangle as well. So, in the nearest future, the price is expected to continue falling inside wave (v) of [iii].




GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, after finishing ending diagonal inside wave [c] of 4 of (1), the price started reversing and formed the first five-wave structure inside wave 5 of (1). In the nearest future, the market may continue moving downwards.



Probably, the pair has finished the first five-wave structure [i] of 5 inside wave 5 of (1). So, after completing a local correction inside wave [ii] of 5, Pound may continue falling inside wave [iii] of 5.




USD JPY, “US Dollar vs Japanese Yen”

Unlike Euro or Pound, Yen doesn’t show any signs of a dynamic ascending movement. Nevertheless, after finishing horizontal triangle inside wave (4) of [5], the price is expected to start a strong ascending movement inside wave (5) of [5]. Also, one shouldn’t ignore an alternative scenario (colored in gray), which implies that the market continues forming wave 2 of (5) of [5] in the form of a large double zigzag.



As we can see at the H1 chart, the price is moving above the critical level at 118.22 and is expected to start growing inside (i) of [iii] of 3 in the nearest future. This scenario will be confirmed if the pair stays above 120.00.




USD CAD, “US Dollar vs Canadian Dollar”

So, the market has finished horizontal triangle inside wave (4) of [3] and the first five-wave structure inside wave (5) of [3] as well. In the near term, the market is expected to continue moving upwards.



After completing zigzag inside E of (4) of [3], the pair formed impulse 1 of (5) of [3] of a larger ascending wave. After finishing a correction inside wave 2? of (5) of [3], the price may continue growing.



 
RoboForex Analytical Department

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