Wave Analysis 21.09.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for September 21^st, 2012

EUR/USD

We may assume that a new ascending trend is being formed as a possible (double) zigzag [Y].



The price continues forming an ascending wave (A) of [Y], which may take the form of impulse.



We may assume that right now a descending correction [iv] of 3 is taking place. However, one should take into consideration the fact that the structure of this wave may yet be changed, and alternative scenario implies that an ascending trend may continue.

GBP/USD

We can’t exclude a possibility that Pound continues forming an ascending wave [с] of B, which may take the form of impulse.



The price is still forming an ascending impulse [c].



We may assume that right now a descending correction iv of (iii) of [c] is taking place. However, one should take into consideration the fact that the structure of this wave may yet be changed, and alternative scenario implies that an ascending trend may continue.

USD/CHF

We may assume that Franc is now forming a final descending wave (5). The price may continue falling down, unless Swiss National Bank interferes.



It looks like the pair is forming a descending wave (5), which may take the form of impulse.



We may assume that right now an ascending correction (iv) of [iii] of A is taking place. However, one should take into consideration the fact that the structure of this wave may yet be changed, and alternative scenario implies that a descending trend may continue.

USD/JPY

The current chart structure implies that the price is finishing a large, long horizontal correction [4] of V. Later, it’s quite logical to expect the pair to continue falling down and form a final wave [5] of V.



It looks like the price is finishing a long horizontal correction [4] with skewed triangle (E) of [4].



We may assume that that a final wave E of (E) of [4] of skewed triangle (E) of [4] and of horizontal triangle [4] is being completed in the form of zigzag.