Wave Analysis 01.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
01.10.2014
Analysis for October 1st, 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 descending impulse A of (E); right now, it is expected to start an ascending correction [iv] of A of (E) of [B].
Probably, the price finished a descending impulse [iii] of A and is expected to start an ascending correction [iv] of A.
Possibly, the pair completed a descending impulse (v) of [iii], which may be followed by an ascending correction [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.
Possibly, the price is forming a local ascending correction [b] of 4 of a descending zigzag4, the form of which isn’t quite clear yet.
Probably, the pair is finishing a local descending zigzagb of (a) of [b] inside an ascending correction [b], after which the uptrend may continue inside wave c of (a) of [b].
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 an ascending impulse [a] of E; right now, it is expected to start a descending correction (iv) of [a] of E.
Probably, the pair finished an ascending impulse (iii) of [a] and is expected to start a descending correction (iv) of [a].
Possibly, the price completed the final impulse [5] of v of (iii), which may be followed by a descending correction (iv) of [a].
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).
Probably, the pair is completing an ascending impulse [iii] of 5, which may be followed by a descending correction [iv] of 5.
Possibly, the price is finishing an ascending impulse (v) of [iii] of 5, which may be followed by a descending correction [iv] of 5.
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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.