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

Analysis for October 11^th, 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