Wave Analysis 29.03.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for March 29^th, 2013

EUR/USD

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



We can’t exclude a possibility that the price finished a descending impulse A of (2), which may be followed by a local ascending correction B of (2).



If the price doesn’t expand an impulse [v] of A of (2), then we can expect the price to make a reverse upwards to start a local correction B of (2).

GBP/USD

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



We can’t exclude a possibility that an ascending wave [B] of v is taking the form of zigzag and may be followed by a new descending movement.



If an ascending wave [B] of v is taking the form of zigzag (A)-(B)-(C) of [B], then we may assume that the price is forming a local ascending correction (B) of [B] of v.

USD/CHF

We can’t exclude a possibility 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 the price finished an ascending impulse [a] of B. if this assumption is correct, we can expect the pair to start a local descending correction (b) of B.



If the price doesn’t expand an ascending impulse (v) of [a], then the current trend is expected to make a reverse downwards and start forming a local correction [b].

USD/JPY

One of the possible scenarios implies 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.



We can’t exclude a possibility that the pair may start wave [5] and break the confirming level without breaking the critical one.



The pair is completing 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