Wave Analysis 18.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 18^th, 2012

EUR/USD

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



We can’t exclude a possibility that an ascending wave (A) of [Y] is taking the form of impulse.



The chart structure implies that the price is completing an impulse 3 with an ascending diagonal triangle [v] of 3. If this assumption is correct, later we can expect the price to start a descending correction 4.

GBP/USD

Pound is forming an 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 a descending correction (iv) of [c] is taking the form of triple zigzag. After that we can expect an ascending trend to continue. An alternative scenario implies that the price has already started forming wave v of (iii) of [c].

USD/CHF

Franc is slowly forming a descending trend as a possible (double) zigzag (5).



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



The chart structure implies that the price is finishing a descending diagonal triangle (v) of [iii]. After that we can expect the price to start an ascending correction [iv].

USD/JPY

We can’t exclude a possibility that the price is completing a large, long horizontal correction [4] of V. if this assumption is correct, later we can 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 a long horizontal correction E of (E) of [4].



We may assume that the pair is finishing a final wave E of (E) of [4] in the form of a horizontal correction.



 
RoboForex Analytical Department