Wave Analysis 18.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 18^th, 2013

EUR/USD

We may assume that a descending correction (2) of [C] is taking the form of zigzag.



We may assume that the price is finishing a descending impulse A of (2), which may be followed by a local ascending correction B of (2).



It looks like the pair formed wave A of (2) and made a reverse upwards. However, this assumption has yet to be confirmed.

GBP/USD

Pound is finishing diagonal triangle(c) of [b]. If it’s true, later the short‑term trend is expected to make a reverse upwards.



We may assume that the price finished the first part [A] of v of (c) of [b] of B of a descending zigzagv of (c) of [b] of B and started forming a local ascending correction [B] of v.



We may assume that the pair started a local ascending correction [B] 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).



We can’t exclude a possibility that the price is forming an ascending zigzag, which may be either wave B of (5) or just its first part [a] of B of (5).



The price completed the first part (a) of [a] of B of an ascending zigzag[a] of B and started forming a local descending correction (b) of [a].

USD/JPY

The chart structure implies that the pair started a new descending trend inside wave [5] of V.



We may assume that the pair completed (or is completing) an ascending zigzag(Z) of [4] and a large correction [4].



We may assume that the price finished (or is finishing) an ascending impulse C of(Z) of [4], after which the short‑term trend is expected to make a reverse downwards and start forming wave [5].



 
RoboForex Analytical Department