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Wave Analysis 31.01.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

31.01.2013

Analysis for January 31st, 2013

EUR/USD

Euro is slowly finishing an ascending impulse (1) of [C], after which we can expect a descending correction (2).



We can’t exclude a possibility that the price is completing an ascending impulse (1) of [C], which may be followed by a descending correction (2) of [C].



We can’t exclude a possibility that the pair is finishing an ascending impulse 5 of (1).



GBP/USD

Horizontal price movements over the last several months imply that Pound is either forming a descending correction (ii) of [c] of B or completing a large descending correction [b] of B.



We may assume that a descending correction (ii) of [c] may take the form of flat (or double zigzag).



We may assume that the pair started forming an ascending correction b of (ii).



USD/CHF

We can’t exclude a possibility that Franc is finishing a descending impulse A of (5) inside a descending zigzag (5).



We may assume that the price is currently completing a descending impulse A of (5), which may be followed by an ascending correction B of (5).



We may assume that the pair is finishing a descending impulse [v] of A, which may be followed by an ascending correction B.



USD/JPY

One of the possible scenarios implies that the price is finishing a long horizontal correction [4] of V. If the assumption is correct, the correction may be followed by a descending wave [5] of V.



We can’t exclude a possibility that the pair is finishing final waves of zigzag (Z) of [4] and a large correction [4]. If this assumption is correct, then after this correction we can expect the price to start moving downwards and form wave [5].



We can’t exclude a possibility that the pair is completing an ascending impulse C of (Z) of [4], which may be followed by a descending wave [5].



 
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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.

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