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Wave Analysis 01.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for April 1st, 2015

EUR USD, “Euro vs US Dollar”

Euro is still forming a large descending impulse inside wave (iii) of [v] of 3. Most likely, in the nearest future, the price will continue reaching new local lows.

The pair is moving close to its critical level at 1.0948, thus confirming the main scenario, which implies that the market may be forming an extension inside wave (iii) of [v], which may continue in the nearest future.

GBP USD, “Great Britain Pound vs US Dollar”

The price is in no hurry to make serious descending movement, but, most likely, it will continue falling inside wave [iii] of 3 in the nearest future.

Probably, the market has finished wave (i) of [iii] in the form of leading diagonal triangle and started an ascending zigzag inside wave (ii) of [iii]. Most likely, in the nearest future, the pair may stay below the confirming level (crimson line).

USD JPY, “US Dollar vs Japanese Yen”

The current descending correction is deep, which means that the price has started forming an extension inside [iii] of 3. Most likely, in the nearest future, the pair will continue growing.

Probably, the pair has formed waves (i) of [iii] and (ii) of [iii] of the extension inside wave [iii] of 3. In the nearest future, the price is expected to continue growing and reach new local highs.

USD CAD, “US Dollar vs Canadian Dollar”

So, just as we expected, the market has finished the first impulse inside wave [5] of iii. After a short-term correction inside wave (2) of [5] of iii, the pair is expected to reach new highs above 1.3000.

The pair is about to complete a fast correction inside wave (2) of [5] of iii in the form of descending zigzag. Most likely, in the nearest future the market will continue growing inside wave (3) of [5] of iii.

RoboForex Analytical Department

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