Wave Analysis 21.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for February 21^th, 2013

EUR/USD

We may assume that Euro is forming a descending correction (2) of [C], which may take the form of zigzag.



The chart structure implies that the price is forming zigzagA-B-C of (2).



We can’t exclude a possibility that the pair is finishing the first wave A of (2) of zigzag(2) in the form of an impulse.

GBP/USD

We may assume that Pound is finishing a large descending correction [b] of B.



We may assume that currently the pair is forming a descending zigzag[A]-[B]-[C] of v of (c) of [b] of B.



We may assume that the pair is completing a descending impulse [A] of v, which may be followed by a local ascending correction [B] of v.

USD/CHF

We can’t exclude a possibility that Franc completed a descending impulse A of (5) and started forming a local ascending correction B of (5).



We may assume that the price is forming an ascending correction B of (5), which may take the form of (double) zigzag.



We can’t exclude a possibility that the pair is finishing 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 may assume that the price is finishing 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 may assume that the pair is completing an ascending zigzag(Z) of [4] and a large correction [4].



We may assume that the pair is completing 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