Analysis for July 11th, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro finished the second “leg” C of (D) of ascending zigzag (D) of [B] in the form of ending diagonal triangle. In this case, price is expected to continue forming final descending zigzag (E) of [B].
Possibly, price is forming final descending zigzag (E). It looks like Euro finished ascending correction B of (E) and started falling down inside final descending wave C of (E).
Probably, pair is forming descending wave C, which may take the form of impulse. In this case, price is expected to continue falling down inside impulse [iii] of C.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound completed ascending zigzag D of (B) of large skewed triangle (B), which may be followed by final descending zigzag E 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, price started forming descending zigzag [a]-[b]-[c] of E. If this assumption is correct, pair is expected to continue falling down inside impulse (iii) of [a].
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc completed diagonal triangle [c] of D and the whole descending zigzag D of (4). In this case, price is expected to continue forming final ascending zigzag E of (4).
Possibly, price is forming final ascending zigzag E. Right now, Franc is forming its final ascending wave [c] of E.
Probably, pair is forming final ascending wave [c], which may take the form of impulse. In this case, price is expected to continue growing up inside impulse (iii) of [c].
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is finishing 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 is finishing final descending wave [e] of 4 of horizontal triangle 4 in the form of small triangle. In this case, after completing horizontal correction 4, price is expected to start ascending wave 5.
Probably, price is completing impulse (c) of [e] of 4 of final descending zigzag [e] of 4. In this case, later pair is expected to form ascending wave 5.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD consolidates gains below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery below 1.0700 in the European session on Thursday. The US Dollar holds its corrective decline amid improving market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD clings to moderate gains above 1.2450 on US Dollar weakness
GBP/USD is clinging to recovery gains above 1.2450 in European trading on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold price shines amid fears of fresh escalation in Middle East tensions
Gold price rebounds to $2,380 in Thursday’s European session after posting losses on Wednesday. The precious metal holds gains amid fears that Middle East tensions could worsen and spread beyond Gaza if Israel responds brutally to Iran.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.