Analysis for May 14th, 2015
Euro is moving close to the critical level, but the main scenario remains the same – the market is expected to start a large descending impulse inside wave (3) of [C].
EUR USD, “Euro vs US Dollar”
Wave (ii) of [i] of 1 is very close to the critical level, and, most likely, today the situation will be clarified. We recommend to stay out of the market.
GBP USD, “Great Britain Pound vs US Dollar”Probably, Pound has completed expanded flat inside wave (2) of . In the nearest future, the market is expected to form a reversal pattern and start a new descending movement inside wave (3) of .
Probably, the pair has finished waves (iv) of [v] of C and (v) of [v] of C and in the nearest future the market is expected to start forming first descending impulses inside wave (3) of . At the same time, wave [v] of C may be extended. In this case, the pair may continue growing.
USD JPY, “US Dollar vs Japanese Yen”Yen continues moving inside a narrow horizontal channel; the structure of wave (4) of  has changed a bit: probably, wave E of (4) of  is also taking the form of horizontal triangle.
The pair has almost completed wave [c] of E of (4) and in the nearest future is expected to start forming an ascending zigzag inside wave [d] of E of (4).
USD CAD, “US Dollar vs Canadian Dollar”Just as we expected, the price has reached new local lows inside impulse c of (y) of [iv]. In the nearest future, the market is expected to complete this five-wave structure and start growing inside wave [v] of 3.
Probably, wave  of c of (y) is taking the form of ending diagonal triangle. In the nearest future, the pair is expected to complete this pattern and start moving upwards inside wave [v] of 3.
RoboForex Analytical Department
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