Wave Analysis 20.11.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
20.11.2014
Analysis for November 20th, 2014
EUR USD, “Euro vs US Dollar”
One of the possible scenarios implies that Euro is forming the final descending wave (E) of [B], which may take the form of a large zigzag. At the moment, the pair is expected to start an ascending correction B of (E).
Possibly, the price has finished diagonal triangle [v] of A of a descending impulse A with a truncation inside wave (v) of [v]. The pair has started an ascending correction B, the form of which isn’t quite clear yet. However, this assumption hasn’t been confirmed and the price may yet change the ending of a descending wave A.
Probably, the pair has completed a truncation inside wave (v) of [v] and the whole descending diagonal triangle [v] of A. Right now, the price is forming an ascending correction B, with 1-2, 1-2 wave sequence.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming a descending correction 4 of (C) of a large ascending ending diagonal triangle(C), which may take the form of zigzag or more complicated pattern. The pair has completed (or is completing) a descending leading diagonal triangle[a] of 4, which may be followed by an ascending correction [b] of 4.
Probably, the price has completed zigzag(v) of [a] of a descending diagonal triangle [a] of 4, which may be followed by an ascending correction [b] of 4.
Possibly, the pair has finished (or is finishing) the final descending impulse c of (v) of [a], which may be followed by an ascending correction [b] of 4, the form of which isn’t quite clear yet.
USD CHF, “US Dollar vs Swiss Franc”
One of the possible scenarios implies that Franc is forming the final ascending wave E, which may take the form of a large zigzag. The price has finished an ascending impulse [a] of E, which may be followed by a descending correction [b] of E.
Possibly, the pair has completed diagonal triangle (v) of [a] of an ascending impulse [a] with a truncation inside wave v of (v). Franc is starting a descending correction [b], the form of which isn’t quite clear yet. However, this assumption hasn’t been confirmed and the price may yet change the ending of an ascending wave [a].
Probably, the price has finished a truncation inside wave v of (v) and the whole ascending diagonal triangle (v) of [a]. Right now, the price is forming a descending correction [b], with 1-2, 1-2 wave sequence.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is about to complete a large ascending impulse (A). If this assumption is correct, then later the price is expected to start a large descending correction (B), maybe in the form of zigzag.
Probably, the pair is finishing an ascending impulse [v] of 5 of (A), which may be followed by a descending correction (B), the form of which isn’t quite clear yet.
Possibly, the price is completing an ascending diagonal triangle(v) of [v] of 5 of A, which may be followed by a large descending correction (B).
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.