Analysis for April 20th, 2015
Probably, Euro has completed double zigzag inside wave (ii) of [v] of 3 and in the nearest future may start falling inside wave (iii) of [v] of 3.
EUR USD, “Euro vs US Dollar”
Most likely, in the nearest future, Euro will reach new local lows while forming wave (iii) of [v] of 3. We can be more sure about a new descending movement only after the pair is able to stay below the confirming level (crimson line on the chart).
GBP USD, “Great Britain Pound vs US Dollar”Pound is finishing a large correction inside wave 2 of (3) in the form of flat. To complete it, the pair needs one more ascending impulse.
Probably, right now the market is forming wave (iv) of [c] of 2, which may be followed by one more ascending movement, after which the pair is expected to complete this large correction in the form of flat. However, an alternative scenario (colored in gray) implies that the market has already finished wave 2 of (3).
USD JPY, “US Dollar vs Japanese Yen”The scenario, according to which the pair has already started forming wave [iii] of 3 of (5), hasn’t been confirmed yet. It looks like Yen is still form the correction inside wave [ii] of 3.
As we can see at the H1 chart, there are no any clear ascending impulses, which means that the pair is still forming the correction inside wave [ii] of 3 of (5). Right now, the market is forming its wave c of (y) of [ii], may be in the form of ending diagonal.
USD CAD, “US Dollar vs Canadian Dollar”The pair made a fast ascending movement last Friday, which means that it completed wave  of iii in the form of zigzag. Right now, the price is forming waves (1) and (2) inside wave  of iii.
After finishing wave (1) of  of iii, the pair is being corrected inside wave (2) of  of iii. Most likely, in the nearest future the pair will continue growing.
RoboForex Analytical Department
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