Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The structure of the current part of the chart has been changed is a bit, but the main scenario remains the same. Probably, right now Eurodollar is forming the ascending correction [ii] of 1 of (C) in the form of the ascending double zigzag. After completing the correction, the pair is expected to start falling in the wave [iii] of 1 of (C).
At the moment there are no reasons to believe that the pair has already finished the correctional double zigzag [ii] of 1 of (C). Probably, in the nearest future the market may reach a new high.
Just as we expected, Pound continues growing inside the correctional wave (ii) of [iii] of 1, which is taking the form of the double zigzag. Probably, in the nearest future the local growth may continue.
The structure of the chart above the wave x of (ii) of [iii] isn’t quite clear yet, but there are no reasons to believe that the pair has already finished the double zigzag. In the nearest future, the pair is expected to continue growing.
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The horizontal triangle inside the correctional pattern makes me switch to the alternative scenario, which implies that the price is forming the flat (2) of [5]. After finishing the horizontal triangle, Yen is expected to continue falling in the wave [v] of C of (2).
The price is moving below the critical level and in the nearest future is expected to form quite a large five-wave pattern in the wave [v] of C of (2).
The structure of the correction [iv] 3 of (C) has been changed a bit and taken the form of the double zigzagwith the horizontal triangle inside it. In the nearest future, the market is expected to start moving upwards in the wave [v] of 3 of (C).
The pair has rebounded from its minimum levels quite fast and already formed the first five-wave ascending structure in the wave [v] of 3 of (C). Probably, in the nearest future, the market may continue growing.
RoboForex Analytical Department
Article By RoboForex.com
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