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Wave Analysis 23.04.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for April 23rd, 2015

EUR USD, “Euro vs US Dollar”

Euro is below the critical level and continues moving downwards slowly. Probably, in the nearest future Euro may reach new lows while forming wave (iii) of [v] of 3. An alternative scenario (colored in gray) implies the pair is forming horizontal triangle inside wave [iv] of 3.

The pair has already completed wave ii of (iii) of [v] in the form of zigzag and right now is forming a descending impulse inside wave iii of (iii) of [v].

GBP USD, “Great Britain Pound vs US Dollar”

An alternative scenario has turned out to be true – flat inside wave 2 of (3) is larger than it was expected. To complete the pattern, the market must form another five-wave ascending structure. The price is expected to reach a new local high.

Wave (v) of [c] of 2 isn’t completed yet; it lacks the fifth wave. In the nearest future, the pair is expected to continue its local growth and start forming reversal pattern.

USD JPY, “US Dollar vs Japanese Yen”

The pair continues growing inside wave (iii) of [iii] of 3, just as we expected. Most likely, in the nearest future, the market will continue moving upwards.

After finishing wave (i) of [iii] of 3, Yen has formed a descending zigzag inside wave (ii) of [iii] of 3. In the nearest future, the market is expected to reach new highs and pass 120.00.

USD CAD, “US Dollar vs Canadian Dollar”

The situation hasn’t changed over the last 24 hours. Probably, the pair continues forming a large ascending impulse inside wave (3) of [5] of iii. Most likely, the market will continue growing in the nearest future.

Most likely, after finishing wedge 1 of (3) of [5] and a short-term correction inside wave 2 of (3) of [5], in the nearest future the pair will continue growing and forming a large ascending impulse.

RoboForex Analytical Department

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