Analysis for July 30th, 2014
EURUSD, “Euro vs US Dollar”
Probably, price is forming final descending zigzag (E) of [B] and completes large correction [B]. However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming descending zigzag A-B-C of (E) of [B]. It looks like right now Euro is forming final descending wave C of (E). Pair is expected to form ascending wave [C].
Probably, pair is forming descending wave С of (E) of [B], which may take the form of impulse. In this case, price is expected to form ascending wave [C].
GBPUSD, “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 is forming final descending zigzag [a]-[b]-[c] of E of (B). Price is about to complete descending impulse (i) of [a] of E. Local ascending correction (ii) of [a] of E is expected.
Presumably, price is forming descending impulse [a] of E of zigzag E. Impulse (i) of [a] is about to be completed. In this case, pair may continue falling down after the local ascending correction (ii) of [a].
USDCHF, “US Dollar vs Swiss Franc”
Probably, price is forming final ascending zigzag E of (4) and the whole skewed triangle (4). However, alternative scenario (colored in grey) may still continue.
Possibly, price is forming final ascending zigzag Е of (4). Correction (4) is expected to be completed. After correction, price may form descending wave (5).
Presumably, pair is forming final impulse [c] of E of (4). In this case, trend reversal is expected to the downside in the form of descending wave (5).
USDJPY, “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.
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