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Forex analysis & forecasts

# Wave Analysis 17.12.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

17.12.2012

## Analysis for December 17th, 2012 EUR/USD

The chart structure implies that Euro continues forming an ascending trend in the form of (double) zigzag [Y].

We can’t exclude a possibility that the price has almost completed an ascending impulse 1 of (A) of [Y].

It looks like the pair finished (or is finishing) an ascending impulse 1 of (A). If the assumption is correct, later we can expect a descending correction 2 of (A).

## GBP/USD

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

The chart structure implies that that the price completed (or is completing) an ascending impulse (i) of [c] of B.

We can’t exclude a possibility that the price finished (or is finishing) an ascending impulse (i) of [c].  If the assumption is correct, after that we can expect a descending correction (ii) of [c].

## USD/CHF

The chart structure implies that Franc continues forming a descending trend inside wave (5), which may take the form of (double) zigzag.

It looks like that the price completed (or is completing) a descending impulse [i] of А of (5).

The pair finished (or is finishing) a descending impulse [i] of A. If the assumption is correct, after that we can expect an ascending correction [ii] of A.

## USD/JPY

The price completed (or is completing) a horizontal correction [4] of V, after which we can expect a descending wave [5] of V.

We may assume that the pair finished (or is finishing) zigzag (E) of [4] and a large correction [4].

The pair completed (or is completing) an ascending impulse C of (E) of [4] of V. If the assumption is correct, later we can expect the pair to start forming a descending wave [5].

RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.