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# Wave Analysis 16.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

16.10.2012

## Analysis for October 16th, 2012 EUR/USD

Well, mid-term expectations haven’t changed much. Euro continues 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.

We can’t exclude a possibility that right now a horizontal correction is taking place, which may be wave [iv] of 3. After that we can expect the price to make a final ascending movement.

## GBP/USD

Our mid-term expectations remain quite the same. Pound continues forming a new ascending trend as a possible impulse [с] of B.

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

We can’t exclude a possibility that at the moment a descending correction (iv) of [c] is taking place and it may take the form of triple zigzag. After that we can expect an ascending trend to continue.

## USD/CHF

Mid-term expectations haven’t changed so far. Franc is still 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 a horizontal correction is taking place, which may be wave (iv) of [iii]. After that we can expect the price to make a final descending movement.

## USD/JPY

Our mid-term expectations remain quite the same. 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], which, in its turn, may be finished with horizontal triangle E of (E) of [4].

We can’t exclude a possibility that the pair is finishing a final wave E of (E) of [4] in the form of a long horizontal correction.

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.