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Wave Analysis 24.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for March 24th, 2015

EUR USD, “Euro vs US Dollar”

Euro has reached a new local high, but the main scenario remains the same: the pair has finished its correction inside wave (ii) of [v] and in the nearest future may start falling inside wave (iii) of [v].



An ascending zigzag inside wave (ii) of [v] has turned out to bigger than we expected. However, the main scenario is still the same as the price continues moving below its critical level at 1.1039.




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the situation hasn’t changed much over the last 24 hours. Most likely, the price has completed its correction inside wave [ii] of 3 and in the nearest future may continue falling onside wave [iii] of 3.



After finishing an ascending zigzag inside wave [ii] of 3, the price is moving inside a horizontal channel. Most likely, in the nearest future the pair may continue falling inside wave [iii] of 3.




USD JPY, “US Dollar vs Japanese Yen”

Bears continue pushing the market downwards and reaching new lows. Nevertheless, the main scenario remains the same. Most likely, in the nearest future the market may continue growing inside wave [c] of 3 of (5) of a large diagonal triangle.



The ending of wave [b] of 2 is constantly changing, but the price almost isn’t moving. However, we can be more sure about a new ascending movement inside wave [c] of 3 only after the pair breaks the confirming level at 120.18 (crimson line on the chart) and stays above it.




USD CAD, “US Dollar vs Canadian Dollar”

Most likely, the pair has completed a descending zigzag inside (2) of [5], which may be followed by a serious ascending movement inside wave (3) of [5].



Probably, the market has met all minimum requirements and  finished a descending zigzag inside wave (2) of [5]. After the price breaks the confirming level at 1.2615, the pair will start a new ascending movement inside wave (3) of [5].



 
RoboForex Analytical Department

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