Wave Analysis 22.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
22.10.2014
Analysis for October 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. 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 has finished an ascending zigzag(a) of [iv] and started 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 an ascending 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] of a descending wedge [a] of 4, maybe in the form of a long horizontal pattern. The pair has already completed its ascending wave a of (iv) and started a descending zigzagb of (iv).
Probably, the pair has completed an ascending wave a of (iv) of a horizontal correction (iv) of [a] and started a descending zigzagb 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 has finished its descending zigzaga of (iv) and started 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 zigzag(a) of [iv] of a horizontal correction [iv]. Right now, the price is forming an ascending zigzag(b) of [iv].
Probably, the price is forming an ascending zigzag(b) of [iv]. At the moment, the pair is expected to start its final wave c of (b).
RoboForex Analytical Department
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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.