Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro has finished its correction inside wave (ii) of [v], and in the nearest future may start falling inside wave (iii) of [v] and reach new local lows.
The price has finished wave (ii) of [v] in the form of zigzag. The pair is moving below its critical level at 1.1039 and in the nearest future the downtrend is expected to continue inside wave (iii) of [v].
Most likely, Pound has completed its correction inside wave [ii] of 3 and in the nearest future may continue falling onside wave [iii] of 3.
Similar to Euro, wave [ii] of 3 has taken the form of zigzag and in the nearest future the pair is expected to continue moving downwards inside wave [iii] of 3. This scenario will be confirmed after the price is able to stay below 1.4720 (crimson line on the chart).
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The market is moving above its critical level (the top of wave 2 of (5)) and in the nearest future is expected to continue growing inside wave 3 of (5) to break 122.00.
Wave [b] of 2 has taken the form of expanded flat. In the nearest future, the price is expected to start a new ascending movement 3 of (5) of [5].
After completing an impulse inside (1) of [5], the price has probably finished a correction inside wave (2) of [5]. In the nearest future, the market is expected to continue moving upwards.
The market either has already completed a correction inside wave (2) of [5] or is about to complete it during the next several hours. Later the price is expected to continue moving upwards inside wave (3) of [5] and reach 1.3000.
RoboForex Analytical Department
Article By RoboForex.com
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