Wave Analysis 31.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
31.07.2014
Analysis for July 31st, 2014
EUR USD, “Euro vs US Dollar”
Probably, price is forming final descending zigzag(E) of [B] and completes large correction [B]. However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming descending zigzag A-B-C of (E) of [B]. It looks like right now Euro is forming final descending wave C of (E) of [B]. Pair is expected to form ascending wave [C].
Probably, pair is forming descending wave С of (E) of [B], which may take the form of impulse. In this case, price is expected to form ascending wave [C].
Probably, pair is forming descending wave С of (E) of [B], which may take the form of impulse. In this case, price is expected to form ascending wave [C].
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound completed final wedge[c] of D of ascending zigzagD of (B) of large skewed triangle(B), which may be followed by final descending zigzagE of (B).
Probably, price is forming final descending zigzag[a]-[b]-[c] of E of (B). Price is about to complete descending impulse (i) of [a] of E. Local ascending correction (ii) of [a] of E is expected.
Presumably, price is forming descending impulse [a] of E of zigzagE. Impulse (i) of [a] is about to be completed. In this case, pair may continue falling down after local ascending correction (ii) of [a].
Probably, price is forming final descending zigzag[a]-[b]-[c] of E of (B). Price is about to complete descending impulse (i) of [a] of E. Local ascending correction (ii) of [a] of E is expected.
Presumably, price is forming descending impulse [a] of E of zigzagE. Impulse (i) of [a] is about to be completed. In this case, pair may continue falling down after local ascending correction (ii) of [a].
USD CHF, “US Dollar vs Swiss Franc”
Probably, price is forming final ascending zigzagE of (4) and the whole skewed triangle(4). However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming final ascending zigzagЕ of (4). Correction (4) is expected to be completed. After correction, price may form descending wave (5).
Presumably, pair is forming final impulse [c] of E of (4). In this case, trend reversal is expected to the downside in the form of descending wave (5).
Possibly, price is forming final ascending zigzagЕ of (4). Correction (4) is expected to be completed. After correction, price may form descending wave (5).
Presumably, pair is forming final impulse [c] of E of (4). In this case, trend reversal is expected to the downside in the form of descending wave (5).
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen finished long horizontal correction 4 of (A). In this case, later price is expected to start final ascending movement inside wave 5 of (A).
Possibly, pair finished descending zigzag[e] of 4 and the whole horizontal triangle4. In this case, price is expected to continue forming ascending wave 5.
Probably, price is forming ascending wave 5, which may take the form of impulse. If this assumption is correct, pair is expected to continue growing up inside impulse (iii) of [i] of 5 without breaking the closest critical level.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.