Wave Analysis 22.12.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
22.12.2014
Analysis for December 22nd, 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. By now, the pair has finished (or is finishing) a descending impulse A of (E), which may be followed by an ascending correction B of (E).
Possibly, the price has completed (or is completing right now) the final impulse [v] of A of a descending impulse A, after which the uptrend may continue inside correction B.
Probably, the pair has finished (or is finishing right now) the final impulse [v] of A. In this case, later the medium-term trend is expected to reverse upwards.
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 has finished (or is finishing right now) a descending leading wedge[a] of 4, which may be followed by an ascending correction [b] of 4.
Probably, the price has completed the final impulse v of (v) of a descending leading wedge [a], which may be followed by an ascending correction [b].
Possibly, the pair is starting an ascending correction [b], the form of which isn’t quite clear yet.
USD CHF, “US Dollar vs Swiss Franc”
One of the possible scenarios implies that Franc is forming the final ascending wave E of (4), which may take the form of a large zigzag. By now, the price has finished (or is finishing) an ascending impulse [a] of E, which may be followed by a descending correction [b].
Possibly, the pair has completed (or is completing right now) the final impulse (v) of [a] of an ascending impulse [a], after which the downtrend may continue inside correction [b].
Probably, the price has finished (or is finishing right now) the final impulse [v] of [a]. In this case, later the medium-term trend is expected to reverse downwards.
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen has completed a large ascending impulse (A). If this assumption is confirmed, then the price is expected to start a large descending correction (B).
Probably, the pair has finished diagonal triangle(v) of [v] and the whole ascending impulse [v] of 5 of (A). Right now, the price is starting a large descending correction (B), maybe in the form of zigzag.
Possibly, the price is forming impulse A of (B) of a descending zigzag(B). In this case, the downtrend may continue inside impulse [iii] of A without breaking the critical level.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.