Wave Analysis 19.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 19^th, 2013

EUR/USD

The chart structure implies that a descending correction (2) of [C] is taking the form of zigzag.



Despite yesterday’s descending movement, we may assume that the price finished a descending impulse A of (2).



We can’t exclude a possibility that the pair completed descending wave A of (2). If this assumption is correct, the price is expected to start a local ascending correction B of (2).

GBP/USD

We can’t exclude a possibility that 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. If the assumption is correct, the pair is expected to start a local ascending correction [B] of v.



We can’t exclude a possibility that the pair is forming a local ascending correction [B] of v, the form of which is not quite clear yet.

USD/CHF

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



We may assume 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). Right now the pair is forming a local descending correction (b) of [a].



We can’t exclude a possibility that 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

We can’t exclude a possibility that the pair started a new descending trend 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]. However, this assumption has yet to be confirmed.



We can’t exclude a possibility that the price finished (or is finishing) an ascending impulse C of(Z) of [4]. If this assumption is correct, the short‑term trend is expected to make a reverse downwards and start forming wave [5].



 
RoboForex Analytical Department