Wave Analysis 02.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

02.07.2013

Analysis for July 2nd, 2013

EUR/USD

Euro continues forming the second “leg” of zigzag(E) of [B], a descending wave C of (E) of [B], which may take the form of an impulse.



We may assume that right now the pair is completing an impulse [iii] of C of (E). The price may finish the whole impulse C of (E) at the level of 1.2750 or lower.



The structure of a descending impulse C implies that right now Euro is finishing an impulse [iii] of C of (E), which may be followed by an ascending correction [iv] of C of (E).



GBP/USD

Pound is finishing the second “leg” of zigzagY of (D), wave [c] of Y of (D), which may take the form of an impulse.



We can’t exclude a possibility that the price is forming a descending wave [c] of Y of (D) in the form of an impulse with a predicted target below the level of 1.50.



We can’t exclude a possibility that Pound is finishing a descending impulse (iii) of [c] of (Y), which may be followed by an ascending correction (iv) of [c] of Y.



USD/CHF

Franc is finishing the second “leg” of an ascending zigzag C of (4), wave [c] of C of (4).



We may assume that Franc is completing an ascending impulse (iii) of [c] of C, which may be followed by a descending correction (iv) of [c] of C.



We may assume that Franc is finishing a horizontal correction iv of (iii) of [c]. If this assumption is correct, the pair will continue moving upwards and form wave v of (iii) of [c] to complete an impulse (iii) of [c].



USD/JPY

The price is still forming a large descending correction (B) of [4], the form of which isn’t quite clear yet.



We can’t exclude a possibility that the price is forming an ascending correction [b] of A of (B) in the form of zigzag.  Right now, the price is finishing its first “leg”, wave (a) of [b] of A.



We may assume that the pair is forming an ascending zigzag[b] and completing its first “leg”, wave (a) of [b]. In this case, later the price is expected to start a descending correction (b) of [b].



 
RoboForex Analytical Department

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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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