Article By RoboForex.com
Analysis for March 23rd, 2015
EUR USD, “Euro vs US Dollar”
Euro has finished its correction inside wave (ii) of [v], and in the nearest future may start falling inside wave (iii) of [v] and reach new local lows.
The price has finished wave (ii) of [v] in the form of zigzag. The pair is moving below its critical level at 1.1039 and in the nearest future the downtrend is expected to continue inside wave (iii) of [v].
GBP USD, “Great Britain Pound vs US Dollar”
Most likely, Pound has completed its correction inside wave [ii] of 3 and in the nearest future may continue falling onside wave [iii] of 3.
Similar to Euro, wave [ii] of 3 has taken the form of zigzag and in the nearest future the pair is expected to continue moving downwards inside wave [iii] of 3. This scenario will be confirmed after the price is able to stay below 1.4720 (crimson line on the chart).
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USD JPY, “US Dollar vs Japanese Yen”
The market is moving above its critical level (the top of wave 2 of (5)) and in the nearest future is expected to continue growing inside wave 3 of (5) to break 122.00.
Wave [b] of 2 has taken the form of expanded flat. In the nearest future, the price is expected to start a new ascending movement 3 of (5) of [5].
USD CAD, “US Dollar vs Canadian Dollar”
After completing an impulse inside (1) of [5], the price has probably finished a correction inside wave (2) of [5]. In the nearest future, the market is expected to continue moving upwards.
The market either has already completed a correction inside wave (2) of [5] or is about to complete it during the next several hours. Later the price is expected to continue moving upwards inside wave (3) of [5] and reach 1.3000.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
