Wave analysis 08.08.2014 (EURUSD, GBPUSD, USDCHF, USDJPY)
Analysis for August 08st, 2014
EUR vs US Dollar
One of possible forms of structure is shown on the chart below and assumes that final descending wave (E) is now developing, it can exist in a form of double combination or a flat pattern.
Probably, descending zigzag A of (E) is completed. In this case it’s reasonable to expect final zigzag B of (E).
It’s not excluded that final impulse [c] of A is completed. If it is so, it’s reasonable to except development of ascending zigzag B.
Great British pound vs US Dollar
Probably, ascending zigzag D of (B) of large inclined triangle (B) is completed in the shape of final wedge [c] of D. Final descending wave E of (B), which can develop in a shape of «double-three» pattern, flat pattern or elongated horizontal model.
Probably, descending wave E of (B) can be developing now, it has started from a flat pattern [a] of E. Expecting to see ascending zigzag [b] of E.
Probably, descending impulse (c) of [a] is completed, expecting to see ascending zigzag [b].
Us Dollar vs Swiss Franc
One of possible versions of a structure includes final ascending correctional move E of (4), which can develop in a shape of double zigzag of flat pattern.
Probably, ascending zigzag [a] of E is completed, expecting to see descending zigzag [b] of E.
It’s not excluded that ascending impulse (c) of [a] of E is completed, expecting to see descending zigzag [b] of E.
US Dollar vs Japanese Yen
Probably, elongate horizontal correctional move 4 of (A) is developing. If it is so, it’s reasonable to expect final rush of the price to the upside in a form of wave 5 of (A). Ascending zigzag [d] of 4 of (A) is developing.
Probably, descending zigzag [c] of 4 is completing, ascending zigzag [d] of 4 is developing. In the present time local descending correctional move (b) of [d] is developing, expecting to see final ascending wave (c) of [d].
It’s not excluded that ascending zigzag [d] is developing, it’s descending correctional move (b) of [d] is completing. If this assumption is correct, it’s reasonable to see final ascending wave (c) of [d] after correctional move (b) of [d].
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.