Wave Analysis 21.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 21^st, 2013

EUR/USD

We can’t exclude a possibility that a descending correction (2) of [C] is taking the form of zigzag.



We can’t exclude a possibility that the price is finishing diagonal triangle[v] of A of a descending impulse A.



The chart structure implies that that the pair may complete a descending impulse very soon A by making a final descending movement inside wave (v) of [v] of A. However, at the same we should note, that a possible diagonal triangle[v] of A may turn out to be skewed triangle[iv] of A.

GBP/USD

Pound is still moving downwards. We may assume that it is completing a descending diagonal triangle(c) of [b].



We can’t exclude a possibility that the price finished a descending impulse [A] of v and started a local ascending correction [B] of v.



We may assume that the pair is forming a local ascending correction [B] of v, the form of which is not quite clear yet.

USD/CHF

Franc is forming a local ascending or 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[a]. 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

The pair is expected either to start a descending wave [5] of V or make a deep pullback, at least. The depth of the expected descending movement may help us to define a future scenario.



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 an ascending impulse C of(Z) of [4] and is starting a new descending trend with wedge.



 
RoboForex Analytical Department