Wave Analysis 06.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for February 6^th, 2013

EUR/USD

We can’t exclude a possibility that Euro started a descending correction (2) of [C]. However, this assumption has yet to be confirmed.



We can’t exclude a possibility that the price completed an ascending impulse (1) of [C] and started a descending correction (2) of [C].



We can’t exclude a possibility that the pair is forming an ascending correction (2), the form of which is not clear now.

GBP/USD

The situation is still not quite clear - Pound is either forming a local descending correction (ii) of [c] of B or completing a large descending correction [b] of B.



A descending correction (ii) of [c], which is taking place right now, may take the form of flat (or double zigzag).



We can’t exclude a possibility that the pair is finishing a descending impulse a of (ii), which may be followed by a local ascending correction b of (ii).

USD/CHF

We can’t exclude a possibility that Franc started an ascending correction B of (5) inside a descending zigzag (5).



We can’t exclude a possibility that the price completed a descending impulse A of (5) and started an ascending correction B of (5).



We can’t exclude a possibility that the pair finished a descending impulse A and started forming the first waves of an ascending correction B, the form of which is not clear now. According to the technical analysis, the price is forming upside down head & shoulders reversal pattern (inside green ellipse).

USD/JPY

The scenario which implies that the price finished a possible zigzag(Z) of [4] hasn’t been confirmed yet. It means that we should pay our attention to an alternative scenario.



The pair is expected to complete zigzag(Z) of [4] and a large correction [4]. After that, the price may start moving downwards and form wave [5].



The pair is expected to complete an impulse C of(Z) of [4] and then start falling down and form wave [5].



 
RoboForex Analytical Department