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

18.10.2012

## Analysis for October 18th, 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

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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.