Wave Analysis 04.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 4^th, 2012

EUR/USD

Well, mid-term expectations haven’t changed much. We may assume that a new ascending trend is being formed as a possible (double) zigzag [Y]. However, one should take into consideration the fact that the structure of this wave may yet be changed.



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



It looks like a descending correction [iv] of 3 is going to be larger and longer than we expected. Later we can expect an ascending trend to continue.

GBP/USD

Our mid-term expectations remain quite the same. We may assume that the price is currently forming a new ascending trend as a possible impulse [с] of B. However, one should take into consideration the fact that the structure of this wave may yet be changed.



We may assume that an ascending wave [c] of B is taking the form of impulse.



It looks like a descending correction iv of (iii) of [c] is going to be larger and longer than we predicted. However, later we can expect an ascending trend to continue.

USD/CHF

Mid-term expectations haven’t changed so far. We may assume that Franc is forming a new descending trend as a possible (double) zigzag (5). However, one should note that the structure of the pattern may yet be changed. If the assumption is correct, the price may continue falling down, unless Swiss National Bank interferes.



We may assume that a descending wave A of (5) is taking the form of impulse.



It looks like an ascending correction (iv) of [iii] of A is going to be larger and longer than we expected. Later we can expect a descending trend to continue.

USD/JPY

It’s quite logical to expect the pair to continue falling down and form a final wave [5] of V, after the price finishes a large, long horizontal correction [4] of V.



We may assume that the price is completing a long horizontal correction [4] with skewed triangle (E) of [4].



We may assume that the pair is finishing the formation of a final zigzag E of (E) of [4] of skewed triangle (E) of [4] and of horizontal triangle [4].
 



RoboForex Analytical Department