Wave Analysis 28.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 28^th, 2013

EUR/USD

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



The price is finishing a descending impulse A of (2), which may be followed by an ascending correction B of (2).



We may assume that at the moment the pair is completing a final descending impulse [v] of A of (2). If the assumption is correct, then we can expect the price to complete a descending impulse A of (2) and then make a reverse upwards to start a correction B of (2).

GBP/USD

We may assume that Pound is forming a final descending zigzagv of (c) of [b]. Right now it is forming a local ascending correction [B] of v.



We may assume that the price is forming an ascending zigzag[B] of v, which may be followed by a new descending movement.



We can’t exclude a possibility that a local ascending correction [B] of v is taking the form of zigzag (A)-(B)-(C) of [B]. Currently the price is forming a local ascending correction (B) of [B] of v.

USD/CHF

We may assume that Franc is forming an ascending or horizontal correction B of (5) in the form of zigzag, which may be followed by a descending wave C of (5).



We may assume that right now the price is finishing an ascending impulse [a] of B, which may be followed by a local descending correction (b) of B.



The price is completing an ascending impulse [a], after which a local trend is expected to make a reverse downwards and start a correction [b].

USD/JPY

We can’t exclude a possibility that a medium-term descending trend is taking place, which may be either a descending wave [5] of V or a deep pullback, at least. The depth of the expected descending movement may help us to define a future scenario.



If the assumption that the pair completed large correction [4] is correct, then the pair is expected to start wave [5] and break the confirming level without breaking the critical one.



We can’t exclude a possibility that the pair completed a descending wedge[i]. If this assumption is correct, then later the price is expected to form a slight ascending correction [ii] and then continue falling down.



 
RoboForex Analytical Department