Article By RoboForex.com
Analysis for May 20th, 2014
EUR USD, “Euro vs US Dollar”
Possibly, Euro finished the second “leg” C of (D) of ascending zigzag (D) of [B] in the form of diagonal triangle. In this case, later price is expected to start forming final descending zigzag (E) of [B].
Probably, price started forming final descending zigzag (E). Right now, Euro is forming its first “leg”A of (E). After completing local ascending correction [ii] of A, pair may continue falling down inside impulse [iii] of A.
Possibly, pair is forming local ascending correction [ii] of A, which may be followed by descending impulse [iii] of A.
GBP USD, “Great Britain Pound vs US Dollar”
Possibly, Pound completed ascending zigzag D of (B) of large skewed triangle (B), which may be followed by final descending zigzag E of (B).
Possibly, price started forming final descending zigzag E. Right now, Pound is forming local ascending correction(ii) of [a] of Eof the first “leg”[a] of E. If this assumption is correct, then after completing it, pair may continue falling down inside impulse (iii) of [a].
Probably, price is forming local ascending correction (ii) of [a], which may be followed by descending impulse (iii) of [a].
USD CHF, “US Dollar vs Swiss Franc”
Probably, Franc completed diagonal triangle [c] of D of descending zigzag D of (4), which may be followed by final ascending zigzag E of (4).
Probably, price started forming final ascending zigzag E. Right now, Franc is forming its first “leg”[a] of E. After completing local descending correction (ii) of [a], pair may continue growing up inside impulse (iii) of [a].
Possibly, pair is forming local descending correction (ii) of [a], which may be followed by ascending impulse (iii) of [a].
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is forming long horizontal correction 4 of (A). In this case, later price is expected to start final ascending movement inside wave 5 of (A).
Probably, pair finished descending zigzag [c] of 4 of horizontal triangle 4, which may be followed by ascending zigzag [d] of 4.
Possibly, price completed descending zigzag [c] of 4 and started forming ascending zigzag [d] of 4 of horizontal triangle 4.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
