Analysis for July 29th, 2014
EUR USD, “Euro vs US Dollar”
Probably, price is 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 right now Euro is forming final descending wave C of (E). Pair is expected to form 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 form ascending correction [iv] of C. However, one should remember that structure of impulse C might yet be changed.
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, pair continues falling down inside descending impulse [a] of E of zigzag E.
USD CHF, “US Dollar vs Swiss Franc”
Probably, price is 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.
Presumably, pair is forming final ascending wave [c] of E, which may take the form of impulse. However, one should remember that structure of impulse [c] might yet be changed.
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 continue forming ascending wave 5.
Probably, price is forming ascending wave 5, which may take the form of impulse. If this assumption is correct, pair is expected to continue growing up inside impulse (iii) of [i] of 5 without breaking the closest critical level.
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
USD/JPY holds above 155.50 ahead of BoJ policy announcement
USD/JPY is trading tightly above 155.50, off multi-year highs ahead of the BoJ policy announcement. The Yen draws support from higher Japanese bond yields even as the Tokyo CPI inflation cooled more than expected.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.