Forecast for November, 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].
Probably, right now Euro is completing impulse
A of (E) of [B] of the final descending
zigzag(E) of [B].
Probably, the price is forming an ascending correction
[iv] of A of a descending impulse
A of (E), which may be followed by the final descending movement of the price inside wave
[v] of A.
At the same time, an alternative scenario implies that a descending structure, which the price has been forming since the middle of 2008, may be an unfinished wedge
a of (b). To confirm this scenario, it would be enough for the price to cross the confirming level at 1.1876. In this case, we can forget about new historic maximum for a long time.
GBP USD, “Great Britain Pound vs US Dollar”
Probably, descending “leg”
[A] of b of a large descending
zigzag«b» has been completed, and at the moment the pair is forming an ascending correction
[B] of b, which may also take the form of
zigzag. One of the possible scenarios implies that the price has already completed a descending correction
(B) of [B] and right now is forming the second “leg”
(C) of [B] of
zigzag[B] in the form of
ending triangle.
Probably, the final wave
(C) of [B] of an ascending
zigzag[B] is taking the form of
ending triangle. If this assumption is correct, then right now the pair is forming a descending correction
4 of (C), which may take the form of
zigzag or more complicated pattern.
Probably, the pair is forming a descending
zigzag4 of (C). Right now, the price is forming an ascending correction
(iv) of [a] of a descending impulse (or
wedge)
[a] 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, 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
zigzagE of (4).
The pair is forming the final ascending
zigzagE of (4). At the moment, the market is forming a descending correction
(iv) of [a] of E of an ascending impulse
[a] of E.
USD JPY, “US Dollar vs Japanese Yen”
One of the possible scenarios implies that the pair is forming the final
diagonal triangleV 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 an impulse. If this assumption is correct, then after finishing an ascending impulse
(A) of [4], the pair may start a large descending correction
(B) of [4].
Possibly, right now the price is finishing the final ascending impulse
5 of (A). Yen is completing its impulse
[iv] of 5 in the form of
running triangle.
However, at the same time an alternative scenario implies that the pair has almost completed an ascending impulse
(A). In this case, the market is expected to start a large descending correction
(B).
RoboForex Analytical Department