Analysis for August 20th, 2014
EUR USD, “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. Right now, the pair is completing a descending zigzag A of (E) of [B], which may be followed by an ascending correction B of (E) of [B].
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 impulse [c] of A and the whole zigzag A. In this case, the trend is expected to reverse upwards inside an ascending zigzag B.
GBP USD, “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 a 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].
USD CHF, “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. Right now, the price is finishing an ascending zigzag [a] of E of (4).
Probably, the pair is about to finish an ascending zigzag [a], which may be followed by a descending zigzag [b].
Possibly, the pair is completing an ascending impulse (c) of [a] and the whole zigzag [a]. Later the trend is expected to reverse downwards inside a descending zigzag [b].
USD JPY, “US Dollar vs Japanese Yen”
Probably, right now Yen is finishing an ascending zigzag [d] 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, right now the pair is completing an ascending zigzag [d] of 4, which may be followed by the final descending zigzag e of 4.
Possibly, the price is finishing an ascending impulse (c) of [d] of an ascending zigzag [d]. If this assumption is correct, then the pair is expected to complete the final ascending wave (c) of [d] and reverse downwards inside zigzag e of 4.
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