Analysis for June 1st, 2015
EUR USD, “Euro vs US Dollar”
Euro continues forming a five-wave structure
[i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to complete this structure and start a short-term correction inside wave
[ii] of 1 of (3).
The price is moving inside a descending channel and, probably, rebounding from its upper border. In the nearest future, the market is expected to finish wave
(v) of [i] of 1 and start a short-term correction.
GBP USD, “Great Britain Pound vs US Dollar”
The price is about to finish wave
[i] of 1 of (3) of a large descending impulse. In the nearest future, the market is expected to reach a new local low, complete wave
[i] of 1 of (3), and start a short-term correction inside wave
[ii] of 1 of (3).
The structure of the H1 chart is quite complicated. Probably, wave
(iv) of [i] of 1 is taking the form of
flat, after which the price may continue falling and finish wave
[i] of 1 of (3).
USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the situation is similar to other USD currency pairs – the price has only formed the first five-wave ascending structure of a larger ascending wave,
(5) of [5]. In the nearest future, the market is expected to complete wave
1 of (5) of [5].
Probably, the pair has finished wave
[iv] of 1. In the nearest future, the market is expected to complete wave
[v] of 1 and start a short-term correction inside wave
2 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
The price is about to finish wave
(i) of [v] of 3, which may be followed by a short-term correction inside wave
(ii) of [v] of 3.
The assumption that the price finished wave
iv of (i) hasn’t been confirmed yet, but in the nearest future, the market is expected to grow a bit and reach a new local high inside wave
v of (i) of [v].
RoboForex Analytical Department