Analysis for May 4th, 2015
Euro is still forming flat inside wave (2) of [C]. Probably, right now the price is finishing wave [iii] of C of (2) inside this pattern.
EUR USD, “Euro vs US Dollar”
Most likely, Euro has finished ending diagonal triangle inside [iii] of C of (2) and right now is forming a new correction inside wave [iv] of C of (2), the form of which isn’t quite clear yet.
GBP USD, “Great Britain Pound vs US Dollar”Most likely, the fast descending movement made by the price prevented the pair from continuing flat inside wave (2) of . Probably, right now the pair has already started forming wave 1 of (3) of  of a new descending impulse.
Most likely, wave 1 of (3) of  is going to be extended inside. In the nearest future, the market is expected to reach new lows and finish the first five-wave descending structure.
USD JPY, “US Dollar vs Japanese Yen”Just as we expected, after finishing running triangle inside wave (4) of , the pair has started forming the first five-wave ascending structure inside wave 1 of (5) of , which may be followed by a correction inside wave 2 of (5) of . After that, the market is expected to continue growing.
Yen has finished an Impulse inside wave 1 of (5) of  and right now is expected to form a new correction inside wave 2 of (5) of . Probably, after that the market may continue moving upwards.
USD CAD, “US Dollar vs Canadian Dollar”Probably, the pair has finished wave (i) of [v] of 3 and right now may start forming a descending zigzag inside wave (ii) of [v] of 3.
Most likely, after finishing an impulse inside wave (i) of [v] of 3, the price may form a descending zigzag inside wave (ii) of [v] of 3 towards 1.2080 – 1.2110.
RoboForex Analytical Department
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