Wave Analysis 18.09.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

18.09.2012 / 10:05

Analysis for September 18^th, 2012

EUR/USD

We may assume that at the moment Euro is forming a new ascending trend, a possible (double) zigzag [Y].

We may assume that the price is forming an ascending wave (A) of [Y], which may take the form of impulse.

We can’t exclude a possibility that Euro is finishing an ascending impulse [iii] of 3. Later, we can expect a descending correction [iv] of 3. However, one should take into consideration the fact that the structure of this wave may yet be changed.

GBP/USD

We may assume that Pound is forming an ascending wave [с] of B, which may take the form of impulse.

We may assume that the price is forming an ascending wave [c], which may take the form of impulse.

We can’t exclude a possibility that Pound is finishing an ascending impulse iii of (iii) of [c]. Later, we can expect a descending correction iv of (iii) of [c]. However, one should take into consideration the fact that the structure of this wave may yet be changed.

USD/CHF

We may assume that the price is now forming a final descending wave (5). The price may continue falling down, unless Swiss National Bank interferes.

We may assume that the price has is forming a descending wave (5), which may take the form of impulse.

We can’t exclude a possibility that Franc is finishing a descending impulse (iii) of [iii] of A, Later, we can expect an ascending correction (iv) of [iii] of A. However, one should take into consideration the fact that the structure of this wave may yet be changed.

USD/JPY

A chart structure implies that the price is completing a large, long horizontal correction [4] of V. Later, we can expect the pair to continue falling down and form a final wave [5] of V.

We can’t exclude a possibility that a long horizontal correction [4] may be completed with skewed triangle (E) of [4].

We can’t exclude a possibility that the price is forming a final wave E of (E) of [4] of skewed triangle (E) of [4] and of horizontal triangle [4].