Analysis for August 19th, 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. Right now, the pair is completing a descending zigzag A of (E) of [B].
Possibly, the price is finishing a descending zigzag A of (E), which may be followed by an ascending zigzag B of (E).
Probably, the pair is about to finish a descending impulse [c] of A and the whole zigzag A. in this case, the market is expected to reverse upwards inside 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 three, flat, or another long horizontal pattern.
Probably, 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.
Possibly, 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. Right now, the price is finishing an ascending zigzag [a] of E of (4).
Possibly, the pair is about to finish an ascending zigzag [a] of E, which may be followed by a descending zigzag [b] of E.
Probably, the pair is completing an ascending impulse (c) of [a] and the whole zigzag [a] of E, which may be followed by a descending zigzag [B].
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).
Possibly, right now the pair 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.
Probably, 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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