Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
After finishing the local correction (ii) of [iii] of 1 in the form of the ascending double zigzag, Eurodollar has formed the first descending impulse in the wave (iii) of [iii] of 1. After another local correction, the market may continue falling.
Most likely, the pair has completed the impulse i of (iii) of [iii], which may be followed by the local correction ii of (iii) of [iii] and a further decline.
In case of Pound, the situation hasn’t changed over the last 24 hours. Pound has completed the correction ii of (iii) of [iii] and right now is expected to start a significant decline in the wave iii of (iii) of [iii].
Pound is still moving below the critical level. After finishing the leading diagonal triangle (1) of [1] of iii, the price hast started forming the correction (2) of [1] of iii. In the future, the market is expected to continues its decline.
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In case of Pound, the situation isn’t changing as well. Probably, the price is about to finish the correction inside the descending extension of the wave [v] of C of (2). Later, the pair is expected to continue moving downwards.
Yen is completing the wave ii of (iii) of [v] of the large descending impulse, which may be followed by a further decline in the wave iii of (iii) of [v].
The price continues moving below the critical level. Most likely, in the nearest future Canadian Dollar will continue falling while forming the wave (iii) of [a] of 4 and reach new local lows.
The pair is still being corrected in the wave ii of (iii) of [a]. In the nearest future, the price is expected to continue moving downwards in the wave iii of (iii) of [a].
RoboForex Analytical Department
Article By RoboForex.com
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