20 October, 2014
Analysis for October 20th, 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]. The price is finishing an ascending zigzag (a) of [iv], which may be followed by a 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 ofzigzag 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 a long horizontal pattern. Right now, the pair is completing its ascending wave c of (iv).
Probably, the pair is completing an ascending wave c of (iv) of a horizontal correction (iv) of [a], which may be followed by a descending zigzag d 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 flat or horizontal triangle.
Possibly, the price is forming a descending correction (iv). The market is finishing its descending zigzag a of (iv), which may be followed by an ascending zigzag b 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 has already finished a descending correction [iv] of 5 in the form of zigzag. If this correction doesn’t take a more complicated form, the pair is expected to start an ascending wave [v] of 5.
Probably, the price has already completed a descending impulse (c) of [iv] and the whole zigzag [iv] of 5. The market is starting to form an ascending wave [v] of 5, which may take the form of an impulse or diagonal triangle.
RoboForex Analytical Department
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