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.
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
AUD/USD extends its upside above 0.6600, eyes on RBA rate decision
The AUD/USD pair extends its upside around 0.6610 during the Asian session on Monday. The downbeat US employment data for April has exerted some selling pressure on the US Dollar across the board. Investors will closely monitor the Reserve Bank of Australia interest rate decision on Tuesday.
EUR/USD: Optimism prevailed, hurting US Dollar demand
The EUR/USD pair advanced for a third consecutive week, accumulating a measly 160 pips in that period. The pair trades around 1.0760 ahead of the close after tumultuous headlines failed to trigger a clear directional path.
Gold holds below $2,300, Fedspeak eyed
Gold price loses its recovery momentum around $2,295 on Monday during the early Asian session. Investors will keep an eye on Fedspeaks this week, along with the first reading of the US Michigan Consumer Sentiment Index for May on Friday.
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.