Wave Analysis 26.03.2015 (EUR/USD, GBP/USD, USD/JPY, USD/CAD)
26.03.2015
Analysis for March 26th, 2015
EUR USD, “Euro vs US Dollar”
Euro is moving below its critical level at 1.1039 so far in the nearest future may start falling inside wave (iii) of [v]. However, if it break this mark, the chart structure may be changed and we may see a correction of a higher level.
Most likely, the pair has finished double zigzag inside wave (ii) of [v] and in the nearest future may continue moving inside the previous downtrend and form wave (iii) of [v].
GBP USD, “Great Britain Pound vs US Dollar”
We can’t see any proper descending movement, that’s why an alternative scenario is becoming more real. According to this scenario, the market is expected to form a correction of a higher level. Nevertheless, right now the pair is still moving according to the man scenario, which implies that in the nearest future, the market will continue falling inside wave [iii] of 3.
The price has formed several first waves with corrections inside wave [iii] of 3. In the nearest future, the pair is expected to continue moving downwards.
USD JPY, “US Dollar vs Japanese Yen”
The chart structure has changed a bit: most likely, horizontal triangle inside wave (4) of [5] turned out to be narrower and later the pair formed a five-wave descending structure inside wave 1 of (5). Right now, the market is forming a large double zigzag inside wave 2 of (5), which may be followed by another ascending movement.
The pair continues forming a large double zigzag inside wave 2 of (5), which may be followed by an ascending five-wave structure inside wave 3 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
The pair is moving above its critical level at 1.2427, which means that in the nearest future the market will continue growing inside wave [5] of iii.
After completing a five-wave structure inside wave (1) of [5], the pair has started forming wave (2) of [5], may be in the form of expanded flat. Most likely, in the nearest future, the price will complete this pattern and continue growing inside wave (3) of [5].
RoboForex Analytical Department
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