Analysis for February 23rd, 2015
EUR USD, “Euro vs US Dollar”
Most likely, the price has completed horizontal triangle inside wave (iv) of [iii] and in the nearest future may start a new descending movement inside wave (v) of [iii].
So, the pair has finished the final zigzag inside wave e of (iv) of [iii], and right now is expected to start falling. This scenario will be confirmed only after is able to stay below 1.1275.
GBP USD, “Great Britain Pound vs US Dollar”
The price is moving without any particular direction, that’s why the overall picture isn’t changing. Most likely, the pair has completed double zigzag inside wave 4 of (1) and started a new ascending movement towards 1.5000.
The pair is below its critical level at 1.5478 and so far it’s quite difficult to identify the internal structure of the movement the price started from this level. After the market stays below 1.5315, it may continue forming wave 5 of (1).
USD JPY, “US Dollar vs Japanese Yen”
The correction inside wave 3 of (5) of [5] has turned out to be longer than we expected, but it hasn’t changed the main scenario. So, the market is expected to continue growing towards 120.00 inside wave (5) of [5].
Wave (ii) of [i] of 3 has turned out to be longer than we expected, but the pair hasn’t broken the critical level at 118.22. In the near term, the market is expected to start a strong ascending movement inside wave(iii) of [i] of 3.
USD CAD, “US Dollar vs Canadian Dollar”
The market is about to finish wave D of (4) inside horizontal triangle. So far, the pair is moving according to the main forecast. After completing horizontal triangle (4) of [3], the price is expected to grow towards 1.2900.
Most likely, the pair is about to finish zigzag D of (4) quite soon. After that, the price is expected to form another descending three-wave structure inside wave E of (4) towards 1.2415 – 1.2480.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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