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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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