Wave Analysis 06.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)

06.03.2015

Analysis for March 6th, 2015

EUR USD, “Euro vs US Dollar”

Euro is still forming a large descending impulse inside wave (v) of [iii]. In the nearest future, the market is expected to continue falling and stay below 1.1100.



Probably, the price is about to finished (or has already finished) wave [3] of iii and expected to start a correction inside wave [4] of iii. The main trend is still bearish; one can try to sell during local pullbacks.




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming a large descending wave 5 of (1). Right now, the pair is forming wave [iii] of 5 of (1), which is, probably, extended. The price is expected to continue moving downwards.



The price is about to finish (or has already finished) wave (iii) of [iii] and later expected in to form a local pullback inside wave (iv) of [iii]. In the nearest future, probably, the pair may continue falling inside [iii] of (5) of (1).




USD JPY, “US Dollar vs Japanese Yen”

The price is still moving above 120.00 inside a large ascending impulse 3 of (5) of [5]. In the near term, the pair is expected to form wave [i] of 3 inside a large extension inside wave 3 of (5) of [5].



Most likely, Yen is finishing impulse [i] of 3 of (5) inside a large extended wave 3 of (5) of [5] and later expected to form a local correction inside wave [ii] of 3 of (5). The critical level is at 119.36 – if the market breaks it, the current scenario will be cancelled.




USD CAD, “US Dollar vs Canadian Dollar”

The market is still forming horizontal triangle inside wave (4) of [3], wave E of (4) of which is taking the form of horizontal triangle as well. In the nearest future, the price is expected to start growing inside wave (5) of [3].



The pair is expected to complete an ascending zigzag[d] of E and a local descending one [e] of E. In the nearest future, the market may finish the whole correctional structure inside wave (4) of [3] and start growing towards 1.2850 – 1.2900.



 
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