Wave Analysis 24.09.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for September 24^th, 2012

EUR/USD

The chart structure implies that a new ascending trend is being formed as a possible (double) zigzag [Y].



We may assume that an ascending wave (A) of [Y] may take the form of impulse.



We can’t exclude a possibility that a local descending correction [iv] of 3 is taking place right now; it started with wedge and may take the form of zigzag. However, one should take into consideration the fact that the structure of the chart may yet be changed, and alternative scenario implies that an ascending trend may continue.

GBP/USD

We may assume that an ascending wave [с] of B may take the form of impulse.



We can’t exclude a possibility that Pound is forming an ascending impulse [c].



We can’t exclude a possibility that a local descending correction iv of (iii) of [c] is taking place right now; it may take the form of expanded flat. However, one should take into consideration the fact that the structure of the chart 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.



We can’t exclude a possibility that a descending wave (5) may take the form of impulse.



We can’t exclude a possibility that a local ascending correction (iv) of [iii] of A is taking place; it may take the form of zigzag. However, one should take into consideration the fact that the structure of the chart 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.



We can’t exclude a possibility that the price is finishing a long horizontal correction [4] with skewed triangle (E) of [4].



We may assume that that the price is completing a final wave E of (E) of [4] of skewed triangle (E) of [4] and of horizontal triangle [4].