Wave Analysis 25.01.2012 (NZD/USD, EUR/USD)
25.01.2012
Analysis for January 25th, 2012
NZD/USD
The price continues the formation of a rising impulse in wave C, and is forming the fifth one inside the same wave. It looks like the pair may reach a new local maximum during Wednesday. The short-term target is the level of 0.8200.
If we take a look at more detailed wave structure, which is shown on the H1 chart, we can see that the local correction has been finished. The price has completed an initial rising impulse inside wave (3). In the near term, we can expect the price to start growing up again.
EUR/USD
The formation of a rising wave (C) of [4] continues. The price may reach a new local maximum on Wednesday. After that we can expect the local correction to be completed and the market to reverse in a downward direction.
More detailed wave structure is shown on the H1 chart. Wave 2 has been completed in the form of an irregular correction. The price has finished an initial impulse in wave 3. In the near term, we can expect the price to start growing up again.
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.