Wave Analysis 07.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 7^th, 2013

EUR/USD

We may assume that Euro is finishing the first wave A of (2) of [C] of a descending correction (2) of [C].



We may assume that a descending wave A of (2) is taking the form of an impulse) and may be completed very soon. If this assumption is correct, after that the price is expected to start 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 impulse.

GBP/USD

The current chart structure implies that Pound is finishing diagonal triangle(c) of [b], after which the short-term trend is expected to make a reverse upwards.



We may assume that the price is finishing the first part [A] of v of (c) of [b] of B of a descending wave v of (c) of [b] of B.



We can’t exclude a possibility 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

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).



The structure of the first wave [a] of B implies that it started with wave (a) of [a] in the form of an impulse.

USD/JPY

The price is completing an almost horizontal triple three[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]. If the assumption is correct, this pattern may complete a large correction [4].



We may assume that the price is finishing wave [v] of C of (Z) of [4], which may complete an ascending impulse C of(Z) of [4].



 
RoboForex Analytical Department