Analysis for July 23rd, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro finished ascending zigzag (D) of [B]. In this case, price is expected to continue 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 Euro completed ascending correction B of (E) and right now is finishing impulse [iii] of C of final descending wave C of (E), which may be followed by 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 complete impulse [iii] of C and start forming ascending correction [iv] of C.
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, price completed ascending wave D. If this assumption is correct, pair is expected to continue falling down inside descending zigzag E without breaking the closest critical level.
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc completed descending zigzag D of (4). If this assumption is correct, price is expected to continue 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.
Probably, pair is forming final ascending wave [c] of E, which may take the form of impulse. In this case, price is expected to continue growing up inside impulse (iii) of [c].
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 start ascending wave 5.
Probably, price completed descending correction 4. In this case, later pair is expected to form ascending wave 5, which may take the form of impulse.
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
EUR/USD holds gains above 1.0700 as USD struggles ahead of data
EUR/USD is posting small gains above 1.0700 in the European session on Thursday. The pair remains underpinned by a sustained US Dollar weakness, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD stays firm above 1.2500 amid US Dollar weakness
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair's uptick is supported by a broadly weakness US Dollar on dovish Fed signals. A mixed market mood could cap the GBP/USD upside ahead of mid-tier US data.
Gold needs to reclaim $2,340 for a sustained recovery
Gold price is consolidating Wednesday’s rebound in Asian trading on Thursday, as buyers await more employment and wage inflation data from the United States for fresh trading impetus. Traders also digest the US Federal Reserve interest rate decision and Chair Jerome Powell's words delivered late Wednesday.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Fed meeting: The hawkish pivot that never was, and the massive surge in the Yen
The Fed’s latest meeting is over, and the tone was more dovish than expected, but that is because the rate hike hype in the US was over-egged, and rate cut hopes had been pared back too far in recent weeks.