Analysis for June 22nd, 2015
There are several possible scenarios, which imply different correctional patterns inside wave (B) of [Y]. Taking into account DX and other US Dollar currency pairs, we may assume that Euro is forming wave [c] of Y of (B) of double zigzag inside wave (B) of [Y]. In the future, the market is expected to continue moving upwards.
EUR USD, “Euro vs US Dollar”
After finishing horizontal triangle inside wave [b] of Y of (B), the pair has formed wave (i) of [c] of Y and a descending double three inside wave (ii) of [c] of Y. In the nearest future, the market is expected to start a new ascending movement inside wave (iii) of [c] of Y.
GBP USD, “Great Britain Pound vs US Dollar”Pound continues forming the correction inside wave (2) of  in the form of zigzag. Right now, the price is forming “leg” C of this zigzag, wave (iii) of [iii] of C to be exact, which may be extended. In the future, the market is expected to continue growing.
The price is still moving sideways, which is yet more proof that it is forming a horizontal correction. Probably, Pound may form a horizontal triangle, after which it may continue growing and complete wave (iii) of [iii] of C.
USD JPY, “US Dollar vs Japanese Yen”Yen continues forming wave 2 of (5) of , which may be followed by a fast ascending movement inside wave 3 of (5) of .
Probably, the pair has already completed wave (b) of [y] of 2 and right now is making the final descending movement inside wave (c) of [y] of 2. The market is expected to reach a new local low.
USD CAD, “US Dollar vs Canadian Dollar”Similar to Yen, Canadian Dollar is still forming wave (ii) of [v] of 3 in the form of double zigzag, which may be followed by a new ascending movement inside wave (iii) of [v] of 3. At the same time, there is an alternative scenario, which implies that the market has already completed wave (ii) of [v] of 3. The situation will be cleared up within the next couple of days.
In order to finish wave (ii) of [v] of 3, the price must reach a new local low inside wave [C] of y of (ii). The market is expected to continue falling.
RoboForex Analytical Department
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