Analysis for July 23rd, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro finished ascending zigzag (D) of [B]. In this case, price is expected to continue 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 Euro completed ascending correction B of (E) and right now is finishing impulse [iii] of C of final descending wave C of (E), which may be followed by 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 complete impulse [iii] of C and start forming ascending correction [iv] of C.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound completed final wedge [c] of D of 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 completed ascending wave D. If this assumption is correct, pair is expected to continue falling down inside descending zigzag E without breaking the closest critical level.
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc completed descending zigzag D of (4). If this assumption is correct, price is expected to continue forming final ascending zigzag E of (4). However, alternative scenario (colored in grey) may still continue.
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] of E, 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 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 triangle 4. In this case, price is expected to start ascending wave 5.
Probably, price completed descending correction 4. In this case, later pair is expected to form ascending wave 5, which may take the form of impulse.
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 regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.