Wave Analysis 05.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 5^th, 2013

EUR/USD

Right now it’s not quite clear which form a descending correction (2) of [C] may take. We can’t exclude a possibility that at the moment Euro is finishing its first wave A of (2) of [C].



We may assume that a descending wave A of (2) may take the form of zigzag (or an impulse) and be followed by a local ascending correction B of (2).



We may assume that the pair is completing the first part A of (2) of a descending correction (2) in the form of zigzag. However, at the same one should remember that this zigzag may easily transform into an impulse.

GBP/USD

We can’t exclude a possibility that Pound is finishing a large descending correction [b] of B with diagonal triangle(c) of [b].



We may assume that the price finished (or is finishing) the first part [A] of v of (c) of [b] of B of a final zigzagv of (c) of [b] of B.



The pair completed (or is completing) a descending impulse [A] of v.

USD/CHF

We may assume that Franc is forming a local ascending correction B of (5), which may be followed by a descending wave C of (5).



Right now the price is forming an ascending correction, which may be either wave B of (5) or just its first part [a] of B of (5).



According to the structure of the first wave [a] of B of an ascending correction B, there are several possible scenarios. One of them implies that its first wave, (a) of [a], is taking the form of triple zigzag.

USD/JPY

We may assume that the price is completing an ascending 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.



The pair is completing an ascending zigzag(Z) of [4] and a large correction [4].



The price is finishing an ascending impulse C of(Z) of [4].



 
RoboForex Analytical Department