Analysis for June 9th, 2015
The correction at the H4 chart is becoming more complicated. Probably, wave (B) of [Y] is taking the form of double three (flat zigzag). Right now, Euro is forming wave [c] of Y of (B), after which it may continue moving downwards.
EUR USD, “Euro vs US Dollar”
Probably, the pair is about to finish (i) of [c] of Y, which may be followed by a short-term zigzag inside wave (ii) of [c] of Y. after that, the market is expected to continue falling.
GBP USD, “Great Britain Pound vs US Dollar”Pound continues moving sideways and forming horizontal triangle inside wave (iv) of [i] of 1. After completing this correctional pattern, the market is expected to reach a new local low.
The price is about to finish zigzags c of (iv) of [i] and in the nearest future may complete two more zigzags, d of (iv) of [i] and e of (iv) of [i]. Later, the market is expected to continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”Yen has finished wave 5 of (5) of , but right now it’s quite difficult to understand whether it is an extension of a more significant ascending movement or the completion of the global ascending impulse. The situation must be cleared up within the next couple of trading days.
The pair has completed wave 5 of (5) of , making the situation quite “cloudy”. So far, it’s not easy to say which direction the pair is going to move. I expected the situation to be cleared up in the nearest future.
USD CAD, “US Dollar vs Canadian Dollar”Canadian Dollar is still being corrected inside wave (ii) of [v] of 3, which may take the form of double zigzag. Probably, in the nearest future the market may continue growing.
Most likely, wave [C] of y of (ii) is taking the form of ending diagonal triangle, which may be a signal that the pair may reverse upwards in the nearest future.
RoboForex Analytical Department
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