20 October, 2014
Analysis for October 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 a large zigzag. The pair is forming a local ascending correction [iv] of A of (E) of [B] of a descending impulse A of (E).
Probably, the price is forming an ascending correction [iv] of A, which may take the form of flat or a long horizontal pattern.
Possibly, the pair is forming an ascending correction [iv]. The price is finishing an ascending zigzag (a) of [iv], which may be followed by a descending zigzag (b) of [iv].
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming a descending wave 4 of (C) of ending triangle (C), which may take the form ofzigzag or more complicated pattern. The pair is completing wave [a] of 4 in the form of wedge.
Possibly, the price is forming an ascending correction (iv) of [a], maybe in the form of a long horizontal pattern. Right now, the pair is completing its ascending wave c of (iv).
Probably, the pair is completing an ascending wave c of (iv) of a horizontal correction (iv) of [a], which may be followed by a descending zigzag d of (iv).
USD CHF, “US Dollar vs Swiss Franc”
One of the possible scenarios implies that Franc is forming the final ascending wave E, which may take the form of a large zigzag. The price is forming a local descending correction (iv) of [a] of E of an ascending impulse [a] of E, which may take the form of horizontal triangle.
Probably, the pair is forming a descending correction (iv) of [a], maybe in the form of flat or horizontal triangle.
Possibly, the price is forming a descending correction (iv). The market is finishing its descending zigzag a of (iv), which may be followed by an ascending zigzag b of (iv).
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is about to complete a large ascending impulse (A). Right now, the price is forming its final ascending impulse 5 of (A).
Possibly, the pair has already finished a descending correction [iv] of 5 in the form of zigzag. If this correction doesn’t take a more complicated form, the pair is expected to start an ascending wave [v] of 5.
Probably, the price has already completed a descending impulse (c) of [iv] and the whole zigzag [iv] of 5. The market is starting to form an ascending wave [v] of 5, which may take the form of an impulse or diagonal triangle.
RoboForex Analytical Department
The British Pound continues to recede in tandem with the US currency. The current quote in the GBP/USD pair is 1.4801. The pound stands at the minimum of eight and a half months...
In anticipation of the New Year, the main currency pair, it seems, has moved into a phase of consolidation within a narrow range. The euro/dollar is barely moving on Tuesday afternoon. The current quotation of the main currency pair is 1.0972, and is slightly higher than yesterday...
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On Thursday afternoon, the main currency pair remained under pressure due to yesterday's news about the readiness of the regulator to extend QE. The single European currency on Thursday afternoon is still in a weak position, as investors continue to analyze the information obtained yesterday...
The British pound rose against the dollar for a third day in a row away from local minima. Current quote in the GBP/USD pair is 1.5253. Today data came out on retail sales in the UK in October...
The British Pound is weakening for the third day in a row, but it would all be well if not for the indicators of force from the "bears" in the GBP/USD pair. The current quote in the pair is 1.5127, and it is not far off from the September minimum of 1.5107...
Eurodollar is still being corrected. The price is trying to stay below the 0/8 level. Possibly, on Wednesday the pair may test the previous high one more time. If the market rebounds from it again and stays below the 0/8level, I am planning to increase my position...
On Thursday morning, the main currency pair is still trading down because of mass pressure on the European currency. So, the euro/dollar in the morning on Thursday remained under pressure, although it is taking a very half-hearted attempt to win back at least a symbolic part of yesterday losses...
The Japanese yen was being sold yesterday and continues to be sold today. The current price of the USD/JPY pair is 119.15. Technically, the instrument clearly intends to move to 120.0 and maybe slightly higher...
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