Wave Analysis 20.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 20^th, 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 of zigzag 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 zigzagd 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 zigzaga of (iv), which may be followed by an ascending zigzagb 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