Wave Analysis 10.09.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

10.09.2012 / 09:44

Analysis for September 10^th, 2012

EUR/USD

We may assume that the pair has finished a large correction [X] and at the moment the price is moving inside a new ascending trend, (double) zigzag [Y].

One of the possible scenarios implies that the price is finishing an ascending wedge (i) and we can expect a descending correction (ii).

A new chart structure implies that Euro is making a final ascending movement to finish an ascending wedge(i) after completing triangle iv of (v) of [i]. We can expect a descending correction [ii].

GBP/USD

We may assume that an ascending wave [с] of B started with wedge (i) of [c] of B.

One of the possible scenarios implies that the price is finishing an ascending wedge (i) and we can expect a descending correction (ii) of [c].

It looks like Pound is making a final ascending movement to finish an ascending wedge (i) after completingtriangle [4] of v of (i). We can expect a descending correction (ii).

USD/CHF

We may assume that the price has completed double zigzag (4), and is now forming a final descending wave(5).

Another possible scenario implies that the price is finishing a descending wedge [i]. We can expect an ascending correction [ii].

It looks like the price is making a final descending movement to finish a descending wedge [i] after completing horizontal triangle iv of (v) of [i]. We can expect an ascending correction [ii].

USD/JPY

The fact that the price is moving inside a narrow range implies that the pair is probably finishing a large and long horizontal correction [4] of V.

We may assume that a long horizontal correction [4] may be completed with horizontal triangle (E) of [4].

It looks like the price is completing wave D of (E) of [4], we can expect a final wave E of (E) of [4] of triangle(E) of [4] and of triangle [4]. If the assumption is correct, then it’s quite logical to expect the price to fall down and form a descending wave [5].