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Wave Analysis 18.05.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

Analysis for May 18th, 2015

EUR USD, “Euro vs US Dollar”

It looks like Euro hasn’t finished expanded flat inside wave (2) of [C] yet. The market is expected to reach a new local high in the nearest future.



Most likely, wave [v] of C of (2) is taking the form of ending diagonal triangle. Right now, the pair is finishing wave (v) of [v] of C of this pattern. In the future, the market is expected to reach a new local high.




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming expanded flat inside wave (2) of [3], which maybe completed very soon. In the future, the market is expected to reach a new local high.



The pair continues moving sideways, which means that the price may be forming horizontal triangle inside wave (iv) of [v] of C. After completing this pattern, the market is expected to reach a new local high.




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.



Most likely, the pair is forming an ascending zigzag inside wave [d] of E of (4), which may be followed by zigzag inside wave [e] of E of (4).




USD CAD, “US Dollar vs Canadian Dollar”

Probably, the price has finished the first impulse inside wave (i) of [v] of 3 of a large ascending wave. After wave (ii) of [v] of 3 is completed, we can expect a long-term growth.



After a fast impulse inside wave (i) of [v] of 3, the pair is being corrected inside wave (ii) of [v] of 3, which may take the form of double three. In the nearest future, the market is expected to continue growing inside wave (iii) of [v] of 3.



 
RoboForex Analytical Department

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