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# Wave Analysis 11.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

11.10.2012

## Analysis for October 11th, 2012 EUR/USD

Euro is forming an ascending wave [Y] in the form of a possible (double) zigzag.

We may assume that an ascending wave (A) of [Y] is taking the form of impulse. However, one should remember that the structure of this wave may yet be changed.

We may assume that a descending correction 4 is taking place and it may take the form of zigzag.

## GBP/USD

We may assume that the price is forming a new ascending trend as a possible impulse [с] of B.

We can’t exclude a possibility that an ascending wave [c] of B is taking the form of impulse. However, one should remember the fact that the structure of this wave may yet be changed.

We may assume that a descending correction (iv) of [c] is taking place and it may take the form of zigzag.

## 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.

We can’t exclude a possibility that a descending wave A of (5) is taking the form of impulse. However, one should remember that the structure of this wave may yet be changed.

We may assume that an ascending correction [iv] is taking place and it may take the form of zigzag.

## USD/JPY

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

We can’t exclude a possibility that the second “leg” [c] of E of (E) of [4] of zigzag E of (E) of [4] is taking the form of a wide pattern.

RoboForex Analytical Department

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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.