Analysis for January 18th, 2013
EUR/USD
The current chart structure implies that Euro is now finishing an ascending impulse
(1) of [C]. If this assumption is correct, then later the price may start forming a descending correction
(2).
We may assume that the price almost completed an ascending impulse
(1) of [C] and is about to start forming a descending correction
(2).
We can’t exclude a possibility that the price is forming final waves of an ascending impulse
(1).
GBP/USD
Pound continues forming a descending correction
(ii) of [c] of B.
A local descending correction
(ii) of [c], which is taking place right now, may take the form of
flat.
We may assume that the pair is forming a descending wave
a of (ii), which is taking the form of
zigzag.
USD/CHF
We may assume that Franc completed a descending impulse
A of (5) and started forming an ascending correction
B of (5).
We may assume that the price is forming an ascending correction
B.
We may assume that the first wave
[a] of B of an ascending correction
B may take the form of
zigzag.
USD/JPY
We may assume that the price almost finished a long horizontal correction
[4] of V, which may be followed by a descending wave
[5] of V.
We may assume that the pair almost completed
zigzag(Z) of [4] and a large correction
[4]. If this assumption is correct, then later we can expect the price to make a reverse downwards.
We can’t exclude a possibility that the pair is finishing an ascending impulse
C of (Z). If this assumption is correct, then later we can expect the price to make a reverse downwards.
RoboForex Analytical Department