28 November, 2014
Analysis for November 28th, 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. At the moment, the pair is expected to finish a descending impulse A of (E)and then start an ascending correction B of (E).
Possibly, the price finished a descending impulse [v] of A and started forming an ascending correction B, the form of which isn’t quite clear yet. However, the pair hasn’t been able to stay above the confirming level so far and may yet change the ending of wave A.
Probably, the pair has started forming an ascending correction B. If this assumption is correct, then after a descending correction (ii) of [a] of B, the uptrend may continue inside impulse (iii) of [a] of B.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming a descending correction 4 of (C) of a large ascending ending diagonal triangle (C), which may take the form of zigzag or more complicated pattern. The pair is completing a descending leading wedge [a] of 4, which may be followed by an ascending correction [b] of 4.
Probably, the price is completing ending wedge (v) of [a] of a descending leading wedge [a], which may be followed by an ascending correction [b].
Possibly, the pair is finishing the final descending impulse (v) of [a]. Right now, Pound is making the final descending movement inside wave v of (v).
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 finishing an ascending impulse [a] of E, which may be followed by a descending correction [b] of E.
Possibly, the pair has completed a descending impulse (v) of [a] and started forming a descending correction[b], the form of which isn’t quite clear yet. However, the price hasn’t been able to stay below the confirming level so far and may yet change the ending of wave [a].
Probably, the price has started forming a descending correction [b]. If this assumption is correct, then after an ascending correction ii of (a) of [b], the downtrend may continue inside impulse iii of (a) of [b].
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is completing a large ascending impulse (A). If this assumption is correct, then later the price is expected to start a large descending correction (B), maybe in the form of zigzag.
Probably, the pair is finishing diagonal triangle (v) of [v] and the whole ascending impulse [v] of 5 of (A), which may be followed by a descending correction (B), the form of which isn’t quite clear yet.
Possibly, the price is completing an ascending diagonal triangle (v) of [v] of 5 of A. Right now, Yen is expected to start the final ascending movement inside wave v of (v).
RoboForex Analytical Department
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