Wave Analysis 23.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for October 23^rd, 2012

EUR/USD

We may assume that the pair is forming an ascending trend in the form of a large (double) zigzag [Y].



We may assume that an ascending wave (A) of [Y] is taking the form of an impulse. And right now the price is completing an impulse 3 of (A) with diagonal triangle [v]of 3 of (A).



It looks like the price is completing an impulse 3 with an ascending diagonal triangle [v] of 3.

GBP/USD

We may assume that the pair is forming an ascending trend in the form of a possible impulse [с] of B.



If our assumption about an ascending impulse [c] of B is correct, then an impulse (iii) of [c] of B may be considered almost completed.



It looks like a descending correction (iv) of [c] is taking the form of triple zigzag and may be finished very soon.

USD/CHF

We may assume that a descending trend inside wave (5) may take the form of (double) zigzag.



We can’t exclude a possibility that the price is forming a descending impulse A of (5), and an impulse [iii] of A of (5) may be completed very soon.



We may assume that the price is finishing an impulse [iii] with a descending diagonal triangle (v) of [iii].

USD/JPY

We may assume that the price is completing a large 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.



A new chart structure implies that the price is completing a correction [4] with zigzag (E) of [4].



It looks like that the pair is finishing a final zigzag A-B-C of (E) of [4] of a correction [4].



 
RoboForex Analytical Department