Wave Analysis 14.10.2011 (USD/CHF, EUR/USD)

14.10.2011

Analysis for October 14th, 2011

USD/CHF

A descending impulse continues in wave A with the second wave completed inside it. The forecast of the price movement is shown on the chart. In the near term, we can expect the price to continue moving downwards while forming a descending wave [3].



The impulse in wave [1] looks perfect. We may assume that the second wave has been completed and taken the form of a usual zigzag pattern. Currently the price is starting to form a bearish wave [3]. During the day we can expect the price to start falling down.


EUR/USD

The price continues forming a rising impulse with the second wave completed inside it. The forecast remains bullish. Most likely, in the nearest future the price will start growing in wave 3.



More detailed wave markings are shown on the H1 chart. We may assume that wave 2 has been completed in the form of zigzag pattern. At the moment the price is forming initial rising waves inside the third wave. The price may start growing again during the day.


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.

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