Analysis for August 26th, 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 a large zigzag, flat or some double pattern. Right now, the pair is expected to start an ascending correction B of (E) of [B].
Probably, the price finished a descending impulse [c] of A and the whole zigzag A, which may be followed by an ascending zigzag B.
Possibly, the pair completed (or is completing) a descending impulse (v) of [c] of A and the whole zigzag A. Right now, the price is expected to start an ascending zigzag B.
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) zigzag.
Possibly, the price is forming an impulse [a] of E of the final descending wave E of (B), which may be followed by an ascending zigzag [b] of E.
Probably, the pair completed (or is completing) a descending impulse v of (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 a large zigzag, flat, or some double pattern. Right now, the price is expected to start a descending correction [b] of E of (4).
Probably, the pair finished an ascending zigzag (c) of [a] and the whole zigzag [a], which may be followed by a descending zigzag [b].
Possibly, the pair completed (or is completeing) an ascending impulse v of (c) of [a] and the whole zigzag [a], which may be followed by a descending zigzag [b].
USDJPY, “US Dollar vs Japanese Yen”
Probably, right now Yen is expected to start forming a descending zigzag [e] of 4 of (A) of a long horizontal correction 4 of (A). In this case, later the price is expected to start the final ascending movement inside wave 5 of (A).
Probably, the pair completed (or is completing) an ascending zigzag [d] of 4, which may be followed by the final descending zigzag [e] of 4.
Possibly, the price finished (or is finishing) an ascending impulse (c) of [d] of and the whole zigzag [d]. If this assumption is correct, then later the pair is expected to start the final descending zigzag [e] of 4.
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Editors’ Picks
EUR/USD comes under pressure near 1.0630
Further gains in the Greenback encourage sellers to maintain their control over the risk complex, forcing EUR/USD to retreat further and revisit the 1.0630 region as the US session draws to a close.
GBP/USD stays firm amid BoE, Fed commentary and US data
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
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.