Wave Analysis 30.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)
30.10.2014
Analysis for October 30th, 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 a long horizontal pattern. Right now, the market is expected to start an ascending zigzag(c) of [iv].
Possibly, the pair is forming a horizontal correction [iv]. The price is about to finish its descending zigzag(b) of [iv], which may be followed by an ascending zigzag(c) of [iv].
GBP USD, “Great Britain Pound vs US Dollar”
Probably, Pound is forming a descending wave 4 of (C) of an ascending ending triangle(C), which may take the form of zigzag or more complicated pattern. The pair is completing a descending wave [a] of 4 in the form of wedge or an impulse.
Possibly, the price is forming an ascending correction (iv) of [a] of a descending wedge [a] of 4, maybe in the form of a long horizontal pattern. The pair is about to complete its descending zigzagb of (iv), which may be followed by an ascending zigzag c of (iv).
Probably, the pair is finishing a descending zigzagb of (iv) of a horizontal correction (iv) of [a], which may be followed by an ascending zigzagc 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 forming 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 horizontal triangle. Right now, the market is expected to start a descending zigzagc of (iv).
Possibly, the price is completing an ascending zigzagb of (iv) of a horizontal correction (iv) of [a], which may be followed by a descending zigzagc 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 a descending correction [iv] of 5 of the final ascending impulse 5 of (A).
Possibly, the pair is finishing an ascending zigzag(b) of [iv] of a horizontal correction [iv] of 5. Right now, the price is expected to start a descending zigzag(c) of [iv].
Probably, the price is completing an ascending zigzag(b) of [iv] of a horizontal correction [iv], which may be followed by a descending zigzag(c) of [iv].
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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.