Article By RoboForex.com
Analysis for October 3rd, 2014
In our previous review, “Expecting the final zigzag. Wave analysis of EUR/JPY for 19.09.2014”, we discussed a possible scenario how the price may finish horizontal triangle [iv] of C of (C).
Our mid-term expectations haven’t changed so far. The current chart structure implies that the pair has finished a long horizontal correction [iv] of C of (C). Right now, the price is expected to form the final ascending wave [v] of C or continue wave (e) of [iv] if the form of a more complicated pattern.
Possibly, the market has completed a descending wave (e) of [iv] in the form of triple zigzag. If this assumption is correct, then the market may start forming the final wave [v]. Otherwise, wave (e) of [iv] may take a more complicated form.
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.
