Analysis for March 2nd, 2015
After finishing horizontal triangle inside wave (iv) of [iii], Euro has formed the first five-wave structure of a larger descending impulse inside wave (v) of [iii]. Most likely, by now the market has completed only the first wave i of (v) of [iii], and at the moment the price is expected to start a correction.
EUR USD, “Euro vs US Dollar”
After making a fast descending movement and leaving horizontal triangle inside wave i of (v) of [iii], the price is probably forming a correction inside wave ii of (v) of [iii], which may take the form of flat.
GBP USD, “Great Britain Pound vs US Dollar”So, after finishing ending diagonal inside wave [c] of 4 of (1), the price has started a new descending movement inside wave 5 of (1). In the nearest future, the market may continue moving downwards.
Probably, the pair has finished the first impulse [i] of 5 of (1) of a more serious descending movement and a correction inside wave [ii] of 5 of (1) in the form of expanded flat. In the future, Pound may continue falling.
USD JPY, “US Dollar vs Japanese Yen”Yen continues growing inside a large ascending impulse 3 of (5) of . In the nearest future, the price is expected to stay above 120.00 and then continue moving upwards.
Probably, the price is about to finish the first impulse (i) of [iii] of 3 of a more serious ascending movement. Most likely, after completing a correction inside wave (ii) of [iii] of 3, the pair will continue growing above 120.00.
USD CAD, “US Dollar vs Canadian Dollar”After finishing horizontal triangle inside wave (4) of , the pair is expected to start a strong ascending movement inside wave (5) of . Probably, the market has already formed the first five-wave structure of the above-mentioned wave. The price is expected to continue moving upwards.
After completing horizontal triangle inside wave (4) of , the pair has formed a five-wave ascending structure inside wave 1 of (5) of  and a correction inside wave 2? of (5) of . In the future, the price is expected to continue growing.
RoboForex Analytical Department
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