Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Considering the situation with other USD currency pairs and DX, we may assume that the price is still being corrected inside wave (B) of [Y]. Most likely, right now the pair is forming a large horizontal triangle with wave C of (B) of [Y] inside it. In the future, the market is expected to continue forming this correctional pattern. At the same time, we should also pay attention to an alternative scenario, according to which wave(B) of [Y] may take the form of double zigzag and may price may grow higher than 1.15.
Eurodollar is being corrected inside wave iv of (c) of [y] and later may move upwards to form wave v of (c) of [y] and reach a new local high.
Probably, Pound is forming an extension inside a large ascending impulse [iii] of C of (2). In the nearest future, the market is expected to continue growing.
The price is forming an extension inside wave [iii] of C of (2) and about to finish the local correction (ii) of [iii] of C, which may be followed by a fast growth.
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Most likely, Yen has completed a large ascending impulse (5) of [5] and right now is forming a large flat with the first three-wave structure inside it in the form of flat as well. After finishing ending diagonal triangleinside wave C of (B) of [A], the price is expected to continue falling and forming a five-wave structure inside wave (C) of [A].
The pair is about to finish wave [ii] of 1 of (C), which may be followed by a new decline inside wave [ii] of 1 of (C) and new local lows.
Probably, the price has completed the first long-term impulse (A) of a large double zigzag, which may be followed by a correction (B) of [Y]. Most likely, Canadian Dollar has finished the first five-wave structure of a new descending correction, which may be followed by a local pullback and a further decline.
The market has completed divergent wedge [i] of A of (C), which may be followed by a short-term correction[ii] of A of (C) and a further decline.
RoboForex Analytical Department
Article By RoboForex.com
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