Wave Analysis 21.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

21.02.2014

Analysis for February 21st, 2014

EUR USD, “Euro vs US Dollar”

Probably, Euro is forming final descending zigzag(E) of [B]. However, this assumption hasn’t been confirmed and price may yet change structure of wave (D).



Probably, price is forming the first “leg” A of (E) of descending zigzag(E). Pair finished ascending correction [ii] of A of (E) started new descending movement inside impulse [iii] of A of (E).



Possibly, pair completed ascending correction [ii] of A and started forming wedge(i) of [iii] of descending impulse [iii] of A.




GBP USD, “Great Britain Pound vs US Dollar”

Internal structure of latest ascending structure may look more like impulse 1 of (C) of [B] than zigzag. In this case, Pound may have already completed descending correction (B) of [B] in the form of flat and right now price is forming the second “leg” (C) of [B] of ascending zigzag[B].



Probably, pair has already completed ascending impulse 1 of (C) of [B], which may be followed by descending correction 2 of (C) of [B].



Probably, Pound has already finished final ascending impulse [v] of 1. In this case, price is expected to start forming descending correction 2.



Possibly, pair has already completed ascending impulse [v] of 1 and started forming descending correction 2, may be in the form of zigzag.




USD CHF, “US Dollar vs Swiss Franc”

Probably, Franc completed descending zigzagD of (4) and started forming final ascending zigzagE of (4) of [C]. However, this assumption hasn’t been confirmed and price may yet change structure of wave D.



Possibly, price has already completed descending correction (ii) of [a] of E of ascending zigzagE and started forming ascending impulse (iii) of [a] of E.



Probably, pair has already finished descending correction (ii) of [a] and started ascending impulse (iii) of [a].




USD JPY, “US Dollar vs Japanese Yen”

Probably, Yen finished ascending impulse (A). In this case, price is expected to start large descending correction (B), may be in the form of zigzag.



Possibly, pair finished diagonal triangle[i] of A of (B) of horizontal correction (B). Right now, price is forming local ascending correction [ii] of A. In this case, later price is expected to continue falling down inside impulse [iii] of A.



Probably, price is forming ascending correction [ii] of A, may be in the form of zigzag.



 
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.

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