Analysis for October 23rd, 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).
Possibly, the price is forming an ascending correction
[iv] of A, which may take the form of
flat or a long horizontal pattern. At the moment, the market is forming a descending
zigzag(b) of [iv].
Probably, the pair is forming an ascending correction
[iv]. The price is forming 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 an ascending
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.
Probably, 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 has already completed its ascending wave
a of (iv) and started a descending
zigzagb of (iv).
Possibly, the pair is forming a descending
zigzagb of (iv) of a horizontal correction
(iv) of [a].
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.
Possibly, the pair is forming a descending correction
(iv) of [a], maybe in the form of
flat or
horizontal triangle.
Probably, the price is forming an ascending
zigzagb of (iv) of a descending correction
(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).
Probably, the pair has already finished a descending
zigzag(a) of [iv] of a horizontal correction
[iv] of 5. Right now, the price is forming an ascending
zigzag(b) of [iv].
Possibly, the price is forming an ascending
zigzag(b) of [iv] of a horizontal correction
[iv] of 5.
RoboForex Analytical Department