Wave Analysis: EURUSD, GBPUSD, USDCHF, USDJPY

Analysis for August 01st, 2014

EUR vs US Dollar

Probably, now large zigzag [A]-[B]-[C] of V of (a) is starting to build, and it’s descending correctional move [B] of V in the form of horizontal triangle is close to an end – now final descending wave (E) of [B] is being formed.

One of possible forms of structure is shown on the chart below and assumes that ascending zigzag (D) of [B] of horizontal triangle [B] is completed. In the present time, probably descending wave (E) of [B] is developing, it’s shape is not defined yet.

At D1 chart, we can make conclusion that now descending wave (E) of [B] is building, probably in the shape of double zigzag, flat or elongated horizontal model. If this assumption is correct, then after local ascending correctional move B of (E) it’s quite reasonable to expect continuation of descending trend in the form of wave C of (E).

Great British pound vs US Dollar

Probably, «A» leg of a large zigzag «b» is completed, and now ascending correction [B] of b is building in the present time – probably, in the shape of zigzag as well. In the present time, descending correctional move (B) of [B] in the shape of declining triangle can be completing.

Probably, ascending correctional move [B] is building in the shape of zigzag. Its descending correction (B) of [B] in the shape of declining triangle is close to an end. If assumption is right, then ascending zigzag D of (B) is completed and final descending wave E of (B) has started. Shape of this wave is not defined yet.

Ascending zigzag D of (B) is probably completed and now final wave E of (B) has started, it can exist in a shape of double 3-pattern or elongated horizontal structure. 

Us Dollar vs Swiss Franc

Probably, global descending trend in the shape of primary diagonal formation (a) is completing in the shape of zigzag [A]-[B]-[C] of V of (a) with final diagonal formation [C] of V of (a) as a second leg. We can make conclusion that this diagonal formation might be completed, because it’s wave structure is completed as well.

Probably, ascending correctional move (4) of [C] is completing in the shape of declining triangle, after that we can reasonably expect final rush to the downside in the form of zigzag (5) of [C]. Final descending wave E of (4) is developing with unknown shape.

It’s not excluded that now final ascending wave E of (4) is developing in the present time, it can have a shape of double zigzag, flat or elongated horizontal structure. In this case after descending correctional move [b] of E of (4), we can expect ascending wave (c) of E of (4).

US Dollar vs Japanese Yen

One of possible ways of vision assumes that now final descending diagonal formation V of (a) is building in the present time with ascending correctional wave [4] of V of (a) – probably, in the shape of zigzag, impulse (A) of [4] is completing.

Probably, ascending correctional move [4] can develop into zigzag, if it is so, we now see completion of it’s first leg (A) of [4] in the form of impulse.

It’s not excluded that horizontal correctional move 4 of (A) of ascending impulse (A) is building in the shape of horizontal triangle and is close to its final phase - ascending zigzag [d] of 4 is developing. It this assumption is correct, then after this zigzag we can see final descending zigzag [e] of 4 of (A) and completion of triangle 4 of (A).