Wave Analysis 29.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
29.07.2014
Analysis for July 29th, 2014
EUR USD, “Euro vs US Dollar”
Probably, price is forming final descending zigzag(E) of [B]. However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming final descending zigzag(E). It looks like right now Euro is forming final descending wave C of (E). Pair is expected to form ascending correction [iv] of C.
Probably, pair is forming descending wave C, which may take the form of impulse. In this case, price is expected to form ascending correction [iv] of C. However, one should remember that structure of impulse C might yet be changed.
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 finished ascending impulse (v) of [c] of D of (B) of large skewed triangle(B), which may be followed by final descending zigzag[a]-[b]-[c] of E of (B).
Possibly, pair continues falling down inside descending impulse [a] of E of zigzagE.
USD CHF, “US Dollar vs Swiss Franc”
Probably, price is forming final ascending zigzagE of (4). However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming final ascending zigzagE. Right now, Franc is forming its final ascending wave [c] of E.
Presumably, pair is forming final ascending wave [c] of E, which may take the form of impulse. However, one should remember that structure of impulse [c] might yet be changed.
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
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.