Wave Analysis 12.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 12^th, 2012

EUR/USD

We may assume that Euro is forming an ascending wave [Y] in the form of a possible (double) zigzag, and right now a local descending correction 4 of (A) of [Y] is taking place.



It looks like an ascending wave (A) of [Y] is taking the form of impulse.



The chart structure implies that right now a descending correction is taking place and it may be either wave [iv] or wave 4.

GBP/USD

We may assume that Pound 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.



The chart structure implies that at the moment a descending correction (iv) of [c] is taking place and it may take the form of zigzag.

USD/CHF

We can’t exclude a possibility that Franc is forming a new descending trend as a possible (double) zigzag (5). The price is expected to continue falling down, unless Swiss National Bank interferes.



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



We can’t exclude a possibility that at the moment an ascending correction is taking place and it may be either wave (iv) or wave [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 the price is completing a long horizontal correction [4] with skewed triangle (E) of [4].



Yesterday’s assumption about a wide wave [c] of E of (E) of [4] hasn’t been confirmed yet. In this case we can’t exclude a possibility that a large correction [4] may be completed with a small triangle E of (E) of [4].



 
RoboForex Analytical Department