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Wave Analysis 06.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for May 6th, 2015

EUR USD, “Euro vs US Dollar”

Euro is about to complete the correction inside wave (2) of [C], which is taking the form of expanded flat. Most likely, in the nearest future the market is will reach a new local high.



Probably, Euro is about to complete wave [iv] of C of (2) in the form of double zigzag, after which the market is expected to grow inside wave [v] of C of (2) and complete the whole correctional pattern.




GBP USD, “Great Britain Pound vs US Dollar”

Most likely, Pound has finished wave 1 of (3) of [3] and right now is forming wave 2 of (3) of [3] in the form of an ascending zigzag.



Probably, the pair has completed only wave [a] of 2 of (3) of an ascending zigzag 2 of (3) of [3]. In the nearest future, the market is expected to form wave [b] of 2 of (3) and impulse [c] of 2 of (3).




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen has finished wave 1 of (5) of [5] and right now is forming wave 2 of (5) of [5], which may be followed by a fast ascending movement inside wave 3 of (5) of [5].



Most likely, wave 2 of (5) of [5] is taking the form of expanded flat. Probably, the pair hasn’t finished wave [c] of 2 of (5) yet.




USD CAD, “US Dollar vs Canadian Dollar”

Most likely, the pair has finished wave (ii) of [v] of 3, which may be followed by a serious ascending movement inside wave (iii) of [v] of 3 to pass 1.3000.



The price has completed a descending zigzag (ii) of [v] of 3. In the nearest future, the market is expected to start growing inside wave (iii) of [v] of 3.



 
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