Wave Analysis 05.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for February 5^th, 2013

EUR/USD

We may assume that Euro started a descending correction (2) of [C].



We may assume that the price completed an ascending impulse (1) of [C] and started a descending correction (2) of [C].



We may assume that the pair is forming an ascending correction (2), the form of which is not clear now.

GBP/USD

The chart structure hasn’t changed much - Pound is either forming a local 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 may assume that the pair finished a descending impulse a of (ii) and right now is forming an ascending correction b of (ii).

USD/CHF

We may assume that Franc started an ascending correction B of (5) inside a descending zigzag (5).



We may assume that the price completed a descending impulse A of (5) and started an ascending correction B of (5).



We may assume that the pair is finishing a descending impulse A and started forming the first waves of an ascending correction B, the form of which is not clear now.

USD/JPY

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



We can’t exclude a possibility that the pair is starting a new descending trend inside wave [5].



 
RoboForex Analytical Department