Wave analysis 07.08.2014 (EURUSD, GBPUSD, USDCHF, USDJPY)

Analysis for August 07^th, 2014

EUR USD ("EUR vs US Dollar")

One of possible forms of structure is shown on the chart below and assumes that final descending wave (E) of [B] is developing, which can develop into double combination or flat pattern.



It’s not excluded that descending zigzag A of (E) is in place. In this case, it’s reasonable to expect ascending zigzag B of (E).



Probably, [c] of A impulse is completed. If it is so, it’s reasonable to expect development of ascending zigzag B.


 

GBP USD ("Great British pound vs US Dollar")

Probably, ascending zigzag D of [B] of large inclined triangle (B) is completed in the shape of final wedge [c] of D. Final descending wave E of (B) is developing, it can exist in the shape of «double-three», flat pattern or elongated horizontal model.



Final descending wave E of (B) is probably completing. It had started with the flat pattern [a] of E. Expecting to see ascending zigzag [b] of E.



It’s not excluded that final descending impulse (c) of [a] is completing, expecting to see ascending zigzag [b].


 

USD CHF ("Us Dollar vs Swiss Franc")

One of possible versions of structure indicates that now we are dealing with the final ascending wave E of (4), that can exist in the shape of double zigzag of flat pattern.



It’s not excluded that ascending zigzag [a] of E is completed, expecting to see descending zigzag [b] of E.



Probably, ascending impulse (c) of [a] of E is completed and descending zigzag [b] of E is starting to develop.

USD JPY ("US Dollar vs Japanese Yen")

Probably, now we are dealing with the elongated horizontal correction 4 of (A). In this case, it’s reasonable to expect final rush to the upside in the form of the wave 5 of (A). Ascending zigzag [d] of 4 of (A) is developing.



Probably, descending zigzag [c] of 4 is completed, ascending zigzag [d] of 4 is developing. In the present time, local descending correctional move (b) of [d] is in place.



Possibly, ascending zigzag [d] is developing and now it’s descending correctional move (b) of [d] is underway. If this assumption is correction, then it’s reasonable to see final ascending wave (c) of [d] after descending correctional move (b) of [d].






RoboForex Analytical Department