Analysis for August 14th, 2014
EURUSD, “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.
Probably, the price is finishing a descending zigzag A of (E), which may be followed by an ascending zigzag B of (E).
Possibly, the pair is about to finish a descending zigzag A. Right now, the market is completing a horizontal triangle (iv) of [c] of A, which may be followed by the final descending wave (v) of [c] of A.
GBPUSD, “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.
Possibly, 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.
Probably, the pair is completing a descending impulse (c) of [a], which may be followed by an ascending zigzag [b].
USDCHF, “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.
Probably, the pair is about to finish an ascending zigzag [a] of E, which may be followed by a descending zigzag [b] of E.
Possibly, the pair is completing an ascending zigzag [a] of E. Right now, the market is finishing a horizontal triangle iv of (c) of [a], which may be followed by the final ascending wave v of (c) of [a].
USDJPY, “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).
Probably, 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.
Possibly, 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.
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