Wave Analysis 21.08.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
21.08.2014
Analysis for August 21st, 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 flat or some double pattern. Right now, the pair is expected to start an ascending correction B of (E) of [B].
Possibly, the price finished (or is finishing right now) a descending zigzagA of (E), which may be followed by an ascending zigzagB of (E).
Probably, the pair completed a descending impulse [c] of A and the whole zigzagA. In this case, the price is expected to start forming an ascending zigzag B.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound completed the final wedge[c] of D of an ascending zigzagD of (B) of a large skewed triangle(B). Right now, the pair is forming the final descending wave E of (B), which may take the form of (double) zigzag.
Probably, the price is forming an impulse [a] of E of the final descending wave E of (B), which may be followed by an ascending zigzag[b] of E.
Possibly, the pair completed (or is completing right now) a descending impulse (c) of [a], which may be followed by an ascending zigzag[b].
USD CHF, “US Dollar vs Swiss Franc”
One of the possible scenarios implies that Franc is forming the final ascending wave E of (4), which may take the form of double zigzag or flat. Right now, the price is finishing an ascending zigzag[a] of E of (4).
Possibly, the pair finished (or is finishing right now) an ascending zigzag[a], which may be followed by a descending zigzag[b].
Probably, the pair completed an ascending impulse (c) of [a] and the whole zigzag[a], which may be followed by a descending zigzag[b].
USD JPY, “US Dollar vs Japanese Yen”
Probably, right now Yen is finishing an ascending zigzag[d] of 4 of (A) of a long horizontal correction 4 of (A). In this case, later the price is expected to start the final ascending movement inside wave 5 of (A).
Possibly, right now the pair is completing an ascending zigzag[d] of 4, which may be followed by the final descending zigzag [e] of 4.
Probably, the price is finishing the final ascending impulse (c) of [d] of zigzag[d]. If this assumption is correct, the trend is expected to reverse downwards inside zigzag[e] of 4.
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.