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].
RoboForex Analytical Department