Wave Analysis 08.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 8^th, 2012

EUR/USD

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



It looks like an ascending wave (A) of [Y] is taking the form of impulse, but its structure may yet be changed.



We can’t exclude a possibility that impulse 3 has been completed, unless Euro starts forming an extension inside wave [v] of 3. In this case it’s quite logical to expect a descending correction 4.

GBP/USD

The price is forming a new ascending trend as a possible impulse [с] of B.



It looks like an ascending wave [c] of B is taking the form of impulse, but its structure may yet be changed.



We can’t exclude a possibility that an ascending impulse (iii) of [c] has been finished, unless Pound starts forming an extension inside wave v of (iii). In this case it’s quite logical to expect a descending correction (iv) of [c].

USD/CHF

We may assume that Franc is forming a new descending trend as a possible (double) zigzag (5). The price may continue falling down, unless Swiss National Bank interferes.



It looks like a descending wave A of (5) is taking the form of impulse, but structure may yet be changed.



We can’t exclude a possibility that a descending impulse [iii] has been completed, unless Franc starts forming an extension inside wave (v) of [iii]. In this case it’s quite logical to expect an ascending correction [iv].

USD/JPY

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



We may assume that the pair is finishing the formation of the second “leg” [c] of E of (E) of [4] of a final zigzag E of (E) of [4].




RoboForex Analytical Department