Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
By now, Eurodollar has already formed three first waves inside a larger descending impulse, and it makes the wave structure a bit more complicated. However, after finishing the local correction ii of (iii) of [iii], the pair is expected to start a significant decline.
Wave ii of (iii) of [iii] is taking the form of an ascending double zigzag, which lacks one more five-wave ascending structure to be completed. In the nearest future, the price is expected to finish this correctional pattern and continue moving downwards.
Just as we expected, Pound has broken its flat downwards and, probably, started a significant decline. In the nearest future, the price is expected to continue moving downwards and finish wave (i) of [iii] of 1.
Wave (4) of [3] of iii is taking the form of horizontal triangle, which may be followed by a descending movement and completion of wave [3] of iii of (i).
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The situation isn’t changing. Yen is expected to continue growing inside wave [iii] of 3 of (5).
Probably, the pair has finished wave [4] of iii of (iii), which may be followed by a new local high and completion of wave [5] of iii of (iii).
Canadian Dollar continues forming wave ii of (v) of [v], which may be followed by a fast growth inside waveiii of (v) of [v].
The market is still forming ii of (v) of [v] in the form of a descending zigzag, which may be followed by a fast growth inside wave iii of (v) of [v].
RoboForex Analytical Department
Article By RoboForex.com
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