Wave Analysis 02.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

02.10.2014

Analysis for October 2nd, 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].



Possibly, the price finished (or is finishing right now) a descending impulse [iii] of A, which may be followed by an ascending correction [iv] of A.



Probably, the pair completed (or is completing right now) 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.



Probably, the price is forming a local ascending correction [b] of 4 of a descending zigzag4, the form of which isn’t quite clear yet.



Possibly, the pair finished (or is finishing right now) 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.



Possibly, the pair finished (or is finishing right now) an ascending impulse (iii) of [a], which may be followed by a descending correction (iv) of [a].



Probably, the price completed (or is completing right now) 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 finish a large ascending impulse (A). Right now, the price is forming its final ascending impulse 5 of (A).



Possibly, the pair completed an ascending impulse [iii] of 5 and is starting a descending correction [iv] of 5.



Probably, the price finished an ascending impulse (v) of [iii] of 5 and started 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.