Article By RoboForex.com
Analysis for November 14th, 2013
EUR/USD
Possibly, Euro is forming mid-term ascending trend inside wave [C]. Right now, pair is forming descending correction (2) of [C], after which ascending trend may continue.
Possibly, pair finished descending zigzag W of (2). In this case, after completing local ascending correction X of (2), Euro may continue falling down to finish double zigzag (2).
Possibly, price completed descending zigzag W of (2). If this assumption is correct, Euro is expected to start new ascending trend, may be inside local ascending correction X of (2).
GBP/USD
Possibly, Pound is forming new mid-term ascending trend inside large impulse (C). Probably, right now pair is forming descending correction 2 of (C), which may take the form of double zigzag or flat.
Possibly, pair is forming descending correction 2, the form of which isn’t quite clear right now. Probably, right now Pound is forming local ascending correction [b] of 2, may be in the form of zigzag.
Possibly, pair is forming ascending zigzag [b] of 2. If this assumption is correct, then after local descending correction (b) of [b], ascending trend may continue inside wave (c) of [b].
USD/CHF
Probably, Franc is forming final descending zigzag A-B-C of (5) of [C]. If it’s true, then right now pair is forming possible ascending correction B of (5).
Possibly, Franc is forming ascending correction B, may be in the form of double zigzag. If this assumption is correct, then after finishing local descending correction [x] of B, Franc may continue rising and form second zigzag [y] of B.
Probably, pair is forming local descending correction [x] of B, which may take the form of zigzag.
USD/JPY
One of possible scenarios implies that predicted target of ascending wedge (A) is between 105…106.50. In this assumption is correct, then later the pair is expected to start large descending correction (B). However, alternative scenario suggests that price has already started forming descending correction (B) and it may be falling down instead of growing up.
Probably, price is finishing horizontal triangle 4 with long horizontal correction [e] of 4. In this case, after completion of correction 4, it’s logical to expect ascending wave 5 in the form of impulse or diagonal triangle.
Probably, price is completing ascending wave (d) of [e], which may be followed by final descending wave (e) of [e] of 4 of correction 4.
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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Article By RoboForex.com
