Analysis for May 20th, 2015
Euro continues forming a large descending impulse inside wave (3) of [C]. Probably, right now, the pair is finishing wave [i] of 1 of (3).
EUR USD, “Euro vs US Dollar”
Probably, the price is about to complete wave [i] of 1 of (3), which may be followed by a short-term ascending zigzag inside wave [ii] of 1 of (3).
GBP USD, “Great Britain Pound vs US Dollar”Pound has finished expanded flat inside wave (2) of  yet and right now is forming wave (3) of .
Probably, in the nearest future the price may complete wave [i] of 1 of (3) of a large descending impulse. The market is expected to reach a new local high and complete the first five-wave descending structure.
USD JPY, “US Dollar vs Japanese Yen”Yen has finished horizontal triangle inside wave (4) of  with wave E of (4) inside it also in the form of horizontal triangle. In the nearest future, the market is expected to continue growing inside wave (5) of .
It looks like the pair is about to finish wave 1 of (5) of , which may be followed by a descending zigzag inside wave 2 of (5) of .
USD CAD, “US Dollar vs Canadian Dollar”The price continues forming wave (i) of [v] of 3 of a large ascending impulse. After finishing the local correction inside wave (ii) of [v] of 3, the pair is expected to start a long-term ascending movement to pass 1.3000.
It looks like the pair is about to wave (i) of [v] of 3, which may be followed by a short-term zigzag inside wave (ii) of [v] of 3. In the future, the market is expected to continue growing.
RoboForex Analytical Department
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