Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro is still being corrected inside wave (2) of [C]. Probably, right now the price is finishing wave C of (2) of [C]. In the nearest future, the market is expected to reach a new local high and complete this expanded flat.
Probably, Euro is about to complete wave [iv] of C of (2) in the form of double zigzag. In the nearest future, the market is expected to grow inside wave [v] of C of (2) and reach a new local high.
Pound is finishing impulse 1 of (3) of [3] of a new descending movement, which may be followed by a correction inside wave 2 of (3) of [3], maybe in the form of an ascending zigzag.
The pair is completing wave [iv] of 1 of (3) and, most likely, is going to reach a new local low today. In the future, the market is expected to form an ascending zigzag inside wave 2 of (3) of [3].
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The situation hasn’t changed much. After finishing wave 1 of (5) of [5], the pair is expected to form wave 2 of (5) of [5].
Probably, Yen has only finished the first “leg” of zigzag [a] of 2 of (5) and the correction [b] of 2 of (5) inside wave 2 of (5) of [5]. We can expect a local decline and then the price may finish wave 2 of (5) of [5]. At the same time, an alternative scenario (colored in gray) suggests that the market have already finished the correction inside wave 2 of (5) of [5] and may break the confirming level (crimson line on the chart) in order to continue moving upwards.
Just as we expected, after finishing wave (i) of [v] of 3, the pair has made a short-term descending movement inside wave (ii) of [v] of 3. After finishing this correction, the pair is expected to grow towards 1.3000.
Probably, the price has only completed wave a of (ii) of [v] of a descending zigzag. In the nearest future, the market is expected to complete this correctional structure and start growing inside wave (iii) of [v] of 3.
RoboForex Analytical Department
Article By RoboForex.com
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