Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Probably, Euro has finished the first five-wave structure, i of (iii) of [v], inside wave (iii) of [v] of 3. However, an alternative scenario is becoming more and more real. It implies the pair is forming horizontal triangle inside wave [iv] of 3. The situation will become clearer in the nearest future.
The pair has already completed leading diagonal triangle i of (iii) of [v] inside wave (iii) of [v] of 3. After completing the correction inside wave ii of (iii) of [v], Euro is expected to continue falling.
The situation hasn’t changed over the last 24 hours. Most likely, Pound has finished the large wave 2 of (3) in the form of flat and right now is forming a large descending impulse inside wave 3 of (3). An alternative scenario implies that the market is forming a larger impulse [c] of 2 of (3). This scenario may become the main one if the price is able to stay above the critical level at 1.5053.
It looks like the market has completed wave [i] of 3 of (3) and right now is being corrected inside wave [ii] of 3 of (3). Most likely, in the nearest future the pair will continue moving downwards.
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Probably, the pair has completed impulse (i) of [iii] of 3 and the correction (ii) of [iii] of 3 inside wave [iii] of 3 of (5). Later, Yen is expected to resume growing.
The price has finished the first impulse (i) of [iii] of 3 and right now is being corrected inside wave (ii) of [iii] of 3. In the nearest future, the market is expected to start growing inside wave (iii) of [iii] of 3.
The current ascending movement is quite slow, but still. After finishing wave (1) of [5] of iii and the correction inside wave (2) of [5] of iii, the pair has formed the first five-wave structure inside wave (3) of [5] of iii. Most likely, in the nearest future the pair will continue growing. However, an alternative scenario implies that the market is forming a more complicated structure inside wave [4] of iii and needs one more descending movement towards 1.2025 – 1. 2050 to complete it. This scenario may become the main one if the price breaks 1.2088.
Probably, wave 1 of (3) of [5] has taken the form of leading diagonal triangle and right now the price is being corrected inside wave 2 of (3) of [5]. In the nearest future, the pair is expected to continue growing.
RoboForex Analytical Department
Article By RoboForex.com
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