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Wave Analysis 16.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for April 16th, 2015

EUR USD, “Euro vs US Dollar”

It looks like Euro continues forming wave (ii) of [v] of 3 in the form of zigzag. In the nearest future, the market is expected to finish this correctional wave and start falling inside wave (iii) of [v] of 3.



To complete double zigzag inside wave (ii) of [v] of 3, the pair must finish the correction inside wave [B] of y of (ii) and impulse [C] of y of (ii). The pair is expected to make a short-term ascending movement and reach a new local high.




GBP USD, “Great Britain Pound vs US Dollar”

The same as Euro, the price is forming wave [ii] of 3 in the form of double zigzag. In the nearest future, the pair is expected to complete its local growth inside wave [ii] of 3.



The price hasn’t finished double zigzag inside wave [ii] of 3 yet. In the nearest future, the pair is expected to move upwards inside wave c of (y) of [ii].




USD JPY, “US Dollar vs Japanese Yen”

The correction inside wave [ii] of 3 of (5) has become deeper and taken the form of double zigzag. In the nearest future, the market is expected to make a short-term descending movement and complete this correctional pattern.



To complete wave [ii] of 3 of (5), the price must reach a new local low. In the nearest future, the pair is expected to reverse upwards and start growing fast inside wave [iii] of 3 of (5).




USD CAD, “US Dollar vs Canadian Dollar”

Wave [4] of iii is getting more complicated and taking the form of a descending zigzag. In the nearest future, the pair is expected to complete this correctional wave and start growing inside wave [5] of iii.



Probably, wave [4] of iii is taking the form of zigzag with horizontal triangle (B) of [4] of iii inside it. In the nearest future, the pair is expected to reverse upwards and start growing inside wave [5] of iii.



 
RoboForex Analytical Department

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