Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Probably, the pair has finally finished the correction [ii] of 1 of (C), which was quite long and complicated, and then formed the first descending impulse in the wave [iii] of 1 of (C). In the future, the market is expected to continue falling.
After finishing the wave [ii] of 1 of (C), Eurodollar has formed the first impulse i of (i) of [iii], which may be followed by the short-term ascending correction ii of (i) of [iii] and a further decline of the pair.
Right now there are no reasons to believe that Pound has completed the wave ii of (iii) of [iii], that’s why the price is expected to grow a little bit and then finish this correctional pattern.
Until the pair forms a descending impulse in the wave iii of (iii) of [iii], there are no reasons to think that the wave ii of (iii) of [iii] has been already finished. Probably, in the nearest future the market may reach a new local high and only then resume its decline.
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Yen continues falling in the wave (iii) of [iv] of C. At the moment, the pair is being corrected in the wave iv of (iii) of [v], which may be followed by a further decline of the price.
The ascending correction iv of (iii) of [v] turned out to be quite deep, but the pair hasn’t broken the top of the wave i of (iii) of [v], thus following all the rules. After completing the correctional pattern, the price is expected to continue falling.
Canadian Dollar has reached a new local low and probably completed the first descending impulse in the extended wave (iii) of [a] of 4. After a local correction, the market is expected to continue falling.
Most likely, the pair has finished the wave i of (iii) of [a] and, after forming a short-term ascending correction, the market is expected to moving downwards falling in the wave ii of (iii) of [a] and reach new local lows.
RoboForex Analytical Department
Article By RoboForex.com
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