Article By RoboForex.com
Analysis for August 15th, 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.
Possibly, the price is finishing a descending zigzag A of (E), which may be followed by an ascending zigzag B of (E).
Probably, the pair is about to finish a descending zigzag A. The market completed a horizontal triangle (iv) of [c] of A, which may be followed by the final descending wave (v) of [c] of A.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound completed the final wedge [c] of D of an ascending zigzag D 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 three, flat, or another long horizontal pattern.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Probably, the price is forming flat [a] of E of the final descending wave E of (B). Later the pair is expected to form an ascending zigzag [b] of E.
Possibly, the pair is completing 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.
Possibly, the pair is about to finish an ascending zigzag [a] of E, which may be followed by a descending zigzag [b] of E.
Probably, the pair is completing an ascending zigzag [a] of E. The market finished a horizontal correction iv of (c) of [a], which may be followed by the final ascending wave v of (c) of [a].
USD JPY, “US Dollar vs Japanese Yen”
Probably, right now Yen is forming an ascending zigzag [d] of 4 of (A) of a long horizontal correction 4 of (A). In this case, later price is expected to start the final ascending movement inside wave 5 of (A).
Possibly, the pair finished a descending zigzag [c] of 4 and right now is forming the final ascending wave (c) of [d] of an ascending zigzag [d] of 4, which may take the form of an impulse or a diagonal triangle.
Probably, the price completed a descending correction (b) of [d] of an ascending zigzag [d]. If this assumption is correct, then the pair is expected to continue forming the final ascending wave (c) of [d], which may take the form of an impulse or a diagonal triangle without breaking the critical level.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
