Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The descending movement inside wave (v) of [iii] continues. In the nearest future Euro is expected to reach new lows below 1.0450.
Most likely, the price has finished wave iv of (v) of [iii] in the form of zigzag, which matches the usual order of corrections inside the impulse (earlier wave ii of (v) of [iii] took the form of running flat). In the future, the market is expected to continue falling.
Pound is still forming a large descending impulse 5 of (1), and in the near term, the pair is expected to reach new local lows and complete this impulse.
Probably, the market has finished wave [iv] of 5 of (1) and the first five-wave structure inside wave [v] of 5 of (1). In the nearest suture, the price is expected to break local lows and continue moving downwards.
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The price continues moving sideways inside wave 4 of (5) of [5]. In the nearest future, the market may start growing and complete the whole structure of wave (5) of [5].
Probably, the pair has finished horizontal triangle inside wave 4 of (5) of [5] and may reach new highs quite soon. This scenario will be confirmed after the market breaks the confirming level (crimson line).
The price is moving very close to its local lows, but still inside a horizontal channel. In the near term, the pair is expected to break the maximum and complete wave 5 of (5) of [3].
Most likely, the market has completed running triangle inside wave 4 of (5) of [3] and in the nearest future may start a new ascending movement inside wave 5 of (5) of [3].
RoboForex Analytical Department
Article By RoboForex.com
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