Analysis for February 20th, 2013
EUR/USD
Euro is forming a descending correction
(2) of [C], which may take the form of
zigzag.
We can’t exclude a possibility that the price formed
wedgeA of (2) inside a descending correction
(2) of [C].
We may assume that the pair completed a descending
wedgeA of (2) and started forming an ascending correction
B of (2).
GBP/USD
We may assume that Pound is finishing a large descending correction
[b] of B.
We can’t exclude a possibility that currently the pair is forming a descending
zigzag[A]-[B]-[C] of v of (c) of [b] of B.
We can’t exclude a possibility that the pair completed a descending impulse
[A] of v, which may be followed by a local ascending correction
[B] of v.
USD/CHF
We may assume that Franc completed a descending impulse
A of (5) and started forming an ascending correction
B of (5).
We can’t exclude a possibility that the price is forming an ascending correction
B of (5), which may take the form of
(double) zigzag.
We may assume that the pair finished the first wave
[a] of B of an ascending correction
B, which may be followed by a local descending correction
[b] of B.
USD/JPY
We can’t exclude a possibility that the price finished
zigzag(Z) of [4]. If the assumption is correct, after that the pair is expected to make a reverse and start moving downwards inside wave
[5] of V.
We can’t exclude a possibility that the pair completed an ascending
zigzag(Z) of [4] and a large correction
[4]. In this case, we can expect the price to form a descending wave
[5].
We can’t exclude a possibility that the pair completed an ascending impulse
C of(Z) of [4]. If the assumption is correct, then later the price may start falling down and form wave
[5].
RoboForex Analytical Department