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Wave Analysis 15.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for May 15th, 2015

EUR USD, “Euro vs US Dollar”

Probably, Euro has finished flat inside wave (2) of [C] and right now is forming a large descending impulse inside wave (3) of [C].



Possibly, the pair has formed waves (i) of [i] of 1 and (ii) of [i] of 1 of a large descending wave [i] of 1 of (3). We’ll be more sure about this descending movement only after the market stays below the confirming level (crimson line on the chart).




GBP USD, “Great Britain Pound vs US Dollar”

Most likely, Pound has completed expanded flat inside wave (2) of [3] and right now is expected to start a significant descending movement inside wave (3) of [3].



The pair hasn’t formed any five-wave descending structures inside waves (3) of [3], that’s why we can’t be sure about new descending movement. We’ll be more sure only after the price stays below the confirming level (crimson line on the chart).




USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming horizontal triangle inside wave (4) of [5]. Probably, wave E of (4) of [5] is also taking the form of horizontal triangle.



Just as we expected, the pair has reached a new local low and formed a descending zigzag inside wave [c] of E of (4). Right now, the market is expected to start forming an ascending zigzag inside wave [d] of E of (4).




USD CAD, “US Dollar vs Canadian Dollar”

Probably, the price has finally finished the correction inside wave [iv] of 3 in the form of double zigzag. Most likely, right now the market is forming an ascending impulse inside wave [v] of 3.



In the nearest future, the market is expected to form wave (i) of [v] of 3 of a large ascending impulse. After a short-term descending zigzag inside wave (ii) of [v] of 3 the price may start a significant ascending movement to pass 1.3000.



 
RoboForex Analytical Department

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