Wave Analysis 16.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
16.10.2014
Analysis for October 16th, 2014
EUR USD, “Euro vs US Dollar”
One of the possible scenarios implies that Euro is forming the final descending wave (E) of [B], which may take the form of a large zigzag. The pair is forming a local ascending correction [iv] of A of (E) of [B] of a descending impulse A of (E).
Probably, the price is forming an ascending correction [iv] of A, which may take the form of flat or a long horizontal pattern.
Possibly, the pair is forming an ascending correction [iv]. At the moment, the price is expected to start its descending zigzag(b) of [iv].
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming a descending wave 4 of (C) of ending triangle(C), which may take the form of zigzag or more complicated pattern. The pair is completing wave [a] of 4 in the form of wedge.
Possibly, the price is forming an ascending correction (iv) of [a], maybe in the form of flat or some double pattern. Right now, the pair is forming an ascending wave c of (iv).
Probably, the pair is finishing an ascending correction (iv) of [a]. At the moment, the market is forming an ascending wave c of (iv).
USD CHF, “US Dollar vs Swiss Franc”
One of the possible scenarios implies that Franc is forming the final ascending wave E, which may take the form of a large zigzag. The price is finishing a local descending correction (iv) of [a] of E of an ascending impulse [a] of E, which may take the form of horizontal triangle.
Probably, the pair is forming a descending correction (iv) of [a], maybe in the form of flat or horizontal triangle.
Possibly, the price is forming a descending correction (iv). At the moment, the market is expected to start a descending zigzagb of (iv).
USD JPY, “US Dollar vs Japanese Yen”
Probably, Yen is about to complete a large ascending impulse (A). Right now, the price is forming its final ascending impulse 5 of (A).
Possibly, the pair is finishing a descending correction [iv] of 5, which may take the form of zigzag.
Probably, the price is completing a descending zigzag[iv] of 5, which may be followed by an ascending wave [v] of 5.
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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.