Article By RoboForex.com
Analysis for September 17th, 2014
In our previous review, “A large triangle. Wave analysis of GBP/LPY for 08.09.2014”, we discussed one of the possible scenario how the price may continue forming horizontal triangle [iv] of 5.
Probably, after reaching the predicted target at level of ~175, the market is completing an ascending zigzag (d) of [iv] of 5, which may be followed by the final descending zigzag (e) of [iv] of 5.
Our mid-term expectations haven’t changed so far – possibly, the pair is finishing a descending correction [iv] of 5 of (1) in the form of horizontal triangle, which may be followed by the final ascending wave [v] of 5 of (1).
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
RoboForex Analytical Department
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Article By RoboForex.com
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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
