Analysis for May 13th, 2015
Euro continues forming a descending impulse inside wave (3) of [C]: by now, it has already completed wave (i) of [i] of 1 and correction (ii) of [i] of 1. In the future, the market is expected to continue falling.
EUR USD, “Euro vs US Dollar”
Probably, the pair has finished an ascending zigzag inside wave (ii) of [i] of 1 and formed wave i of (iii) of [i]. In the future, the market is expected to continue falling inside wave iii of (iii) of [i].
GBP USD, “Great Britain Pound vs US Dollar”Most likely, Pound hasn’t completed expanded flat inside wave (2) of  yet. In order to complete the pattern, the price must move upwards and reach another local high. After that, the market is expected to start a strong and significant descending movement inside wave (3) of .
Probably, the pair has only finished wave (iii) of [v] of C of wave [v] of C of (2) and right now is forming a flat correction inside wave (iv) of [v] of C. in order to complete the whole correctional pattern, the price must make one more ascending movement. At the same time, an alternative scenario (colored in gray) implies that the market has already completed wave [v] of C of (2). The situation will clarify during the next 24 hours.
USD JPY, “US Dollar vs Japanese Yen”Yen continues moving inside a narrow horizontal channel. If the situation isn’t changed during the next 24 hours, I’ll turn to an alternative scenario, which implies that the market may still be forming wave (4) of  in the form a of a more complicated pattern.
Probably, we’ve got a new ascending pattern inside waves (i) of [iii] and (ii) of [iii]. The weakness of this scenario is that we’ve already got three ascending 1-2 patterns, suggesting that triangle inside wave (4) of  might still continue. However, the main scenario remains the same so far - the pair is expected to continue growing to pass 122.00.
USD CAD, “US Dollar vs Canadian Dollar”Probably, the price has chosen the alternative scenario we discussed yesterday – wave b of (y) of [iv] has taken the form of triangle and the market may reach a new local low in the nearest future.
Most likely, after finishing horizontal triangle inside wave b of (y) of [iv], the market has started forming a five-wave descending structure. In the future, the pair is expected to reach a new local low.
RoboForex Analytical Department
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