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Wave Analysis 01.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

01.02.2013

Analysis for February 1st, 2013

EUR/USD

Euro is expected to finish an ascending impulse (1) of [C] and then start a descending correction (2).



We may assume that the price is completing an ascending impulse (1) of [C], which may be followed by a descending correction (2) of [C].



The pair is expected to finish an ascending impulse 5 of (1).



GBP/USD

The chart structure hasn’t changed much - Pound is either forming a descending correction (ii) of [c] of B or completing a large descending correction [b] of B.



We can’t exclude a possibility that a descending correction (ii) of [c] may take the form of flat (or double zigzag).



We can’t exclude a possibility that the pair is forming an ascending correction b of (ii).



USD/CHF

Franc is expected to continue an ascending correction B of (5) inside a descending zigzag (5).



We can’t exclude a possibility that the price is currently completing a descending impulse A of (5), which may be followed by an ascending correction B of (5).



We can’t exclude a possibility that the pair is finishing a descending impulse [v] of A.



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 may assume 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 may assume that the pair is completing an ascending impulse C of (Z) of [4].



 
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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.