Wave Analysis 13.06.2012 (NZD/USD, EUR/USD)

13.06.2012

Analysis for June 13th, 2012

NZD/USD

The NZD/USD currency pair is still being corrected. It looks like wave [4] is taking the form of zigzag pattern with wave (C) being formed inside it. In the near term, we can expect the price to complete the fourth wave and then start falling down again.



As we can see at the H1 chart, wave (B) has been completed and it’s quite short. We may assume that the price has formed an initial impulse in wave 1 on the minor wave level. The local growth of the price may continue for a while.



EUR/USD

Euro is still being corrected. It looks like wave (4) is taking the form of zigzag pattern with wave B being formed inside it. In the near term, we can expect the price to grow up a bit while forming C of (4), but then the descending trend will continue.



As we can see at the H1 chart, the price has formed divergent wedge pattern inside wave A. Earlier on the minor wave level the pair completed a descending impulse in wave [A] and then started the local correction. Wave [B] may be finished within the next several hours and then we can expect the price to start forming a bearish wave [C] of B.

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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