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

Analysis for October 16^th, 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