Analysis for March 10th, 2015
Euro continues reaching new lows inside a large descending impulse (v) of [iii]. Right now, the pair is forming a long extension inside wave iii of (v). In the nearest future, the market is expected to complete the third wave and start a sideways correction inside wave iv of (v).
EUR USD, “Euro vs US Dollar”
Probably, the price hasn’t completed wave iii of (v) of [iii] yet. In the future, the market is expected to reach new local minimums.
GBP USD, “Great Britain Pound vs US Dollar”Most likely, Pound has finished wave [iii] of 5 of a large descending impulse 5 of (1). At the moment, the pair is expected to form a local correction, after which the market may continue moving downwards.
Probably, Pound has completed wave [iii] of 5 of (1) and right now is expected to form a correction inside wave [iv] of 5 of (1). Most likely, the fourth wave will take the form of zigzag. Later, the pair may continue falling.
USD JPY, “US Dollar vs Japanese Yen”Yen continues growing inside wave 3 of (5) of ; the assumption that the wave is already completed hasn’t been confirmed yet. In the nearest future, the price is expected to reach a new local high, finish wave 3 of (5) of , and start a sideways correction inside wave 4 of (5) of .
The pair continues reaching new highs inside wave 3 of (5) of . Most likely, the market may reach a new local high in the nearest future and start a horizontal correction inside wave 4 of (5) of .
USD CAD, “US Dollar vs Canadian Dollar”After finishing a correctional zigzag inside wave 2 of (5) of , the price has started growing inside a larger ascending impulse 3 of (5) of . The pair is expected to continue moving upwards.
Most likely, the pair has finished its correctional movement inside wave 2 of (5) of . Right now, the price is forming a large ascending wave 3 of (5) of , which may take at least several trading sessions.
RoboForex Analytical Department
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