Wave Analysis 19.04.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

19.04.2013

Analysis for April 19th, 2013

EUR/USD

We may assume that Euro is forming a descending correction (2) of [C] in the form of zigzagA-B-C of (2) of [C].



We can’t exclude a possibility that the price is forming a correction B of (2) in the form of zigzag inside a large descending zigzag(2).



We may assume that Euro started forming a local descending correction [b] of B, which may take the form of zigzag.



GBP/USD

We may assume that Pound is forming a final ascending wave E of (4) of a large horizontal triangle(4).



We may assume that an ascending wave E is taking the form of double zigzag.



There is a possibility that the price is finishing a local descending correction [x] of E (or its first part, wave (a) of [x]).



USD/CHF

We may assume that an ascending correction B of (5) is taking the form of zigzag and may be followed by a final descending wave C of (5).



We may assume that a descending correction [b] of B is taking the form of zigzag.



We can’t exclude a possibility that a local ascending correction (b) of [b] may also take the form of zigzag.



USD/JPY

According to the chart structure, after finishing an ascending wedge(A) of [4] the price is expected to form a descending correction (B) of [4].



The chart structure implies that the pair completed an ascending impulse 5 of (A). However, it hasn’t been confirmed yet.



If our assumption that the price started a descending wave (B) is correct, then later we can expect the pair to form a local ascending correction [ii] of A of (B) and continue falling down.



 
RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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