Article By RoboForex.com
Forecast for September, 2014
EUR USD, “Euro vs US Dollar”
Probably, Euro is still forming a large ascending zigzag [A]-[B]-[C] of V of (a) and is about to finish its descending correction [B] of V in the form of horizontal running triangle – right now the pair is completing the final descending wave (E) of [B].
One of the possible scenarios implies that Euro completed an ascending zigzag (D) of [B] of triangle [B]. If this assumption is correct, then right now the price is forming the final descending wave (E) of [B], the form of which isn’t quite clear yet.
The price is forming the final descending wave (E) of [B], which may take the form of double zigzag, flat or a long horizontal pattern. By now, the pair has almost completed a descending zigzag A of (E). In this case, after a deep ascending correction B of (E), the downtrend may continue inside wave C of (E). The depth, size, and structure of this correction may help us to predict how the pair will move in the future.
At the same time, an alternative scenario implies that wave A of (E) may be transformed into a descending impulse. If this assumption is confirmed, then a descending wave (E) will most likely take the form of a large single zigzag A-B-C of (E).
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GBP USD, “Great Britain Pound vs US Dollar”
Probably, descending “leg” [A] of b of a large zigzag b was completed, and at the moment the pair is forming a large ascending correction [B] of b, which may also take the form of zigzag. Right now, the price is completing a descending correction (B) of [B] in the form of a possible skewed triangle.
Probably, an ascending correction [B] is taking the form of zigzag with skewed triangle (B) of [B] being completed inside it. If this assumption is correct, then the pair finished an ascending zigzag D of (B) and started the final descending wave E of (B), which may take the form of (double) zigzag.
Probably, the pair is forming the final descending zigzag E of (B). The price has almost completed an impulse [a] of (E), which may be followed by an ascending correction [b] of E.
USD CHF, “US Dollar vs Swiss Franc”
Probably, Swiss Franc is finishing global descending trend in the form of triangle (a). Right now, the pair is completing its zigzag [A]-[B]-[C] of V of (a) with ending diagonal triangle [C] of V of (a) as its second “leg”. It may be confirmed by the fact that internal wave structure of this diagonal triangle looks completely formed.
Probably, right now the price is completing an ascending correction (4) of [C] in the form of skewed triangle, which may be followed by the final descending movement inside zigzag (5) of [C]. The pair is forming the final ascending wave E of (4), the form of which isn’t quite clear yet.
The pair is forming the final ascending wave E of (4), which may take the form of double zigzag, flat or a long horizontal pattern. In this case, after a deep descending correction [b] of E of (4), the price may form an ascending wave [c] of E of (4). The depth, size, and structure of this correction may help us to predict how the pair will move in the future.
At the same time, an alternative scenario implies that wave [a] of E may be transformed into an ascending impulse or wedge. If this assumption is confirmed, then an ascending wave E may take the form of a large single zigzag [a]-[b]-[c] of E.
USD JPY, “US Dollar vs Japanese Yen”
One of the possible scenarios implies that the pair is forming the final diagonal triangle V of (a) of a global descending impulse (a). Right now, the price is forming its ascending correction [4] of V of (a), may be in the form of zigzag. Yen is finishing an ascending impulse (A) of [4], which may be followed by a descending correction (B) of [4].
Probably, an ascending correction [4] may take the form of zigzag; right now, the price is completing its first “leg” (A) of [4] in the form of impulse. If this assumption is correct, then after finishing an ascending impulse (A) of [4], the pair may form a descending correction (B) of [4].
Possibly, a horizontal correction 4 of (A) of an ascending impulse (A) is being completed in the form of skewed triangle. Right now, the price is finishing an ascending zigzag [d] of 4. If this assumption is correct, then later pair is expected to form the final descending zigzag [e] of 4 of (A) and complete the whole correction 4 of (A).
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.
