Article By RoboForex.com
Analysis for January 29th, 2014
EUR/USD
One of possible scenarios implies that Euro completed ascending zigzag (D) of [B] and started forming final descending zigzag (E) of [B]. However, this assumption hasn’t been confirmed and price may yet change structure of wave (D).
Possibly, price is forming the first “leg” A of (E) of descending zigzag (E). Probably, pair finished (or is finishing right now) ascending correction [ii] of A of (E), which may be followed by descending wave [iii] of A of (E).
Probably, pair completed (or is completing) ascending correction [ii]. In this case, later price is expected to start descending impulse [iii].
GBP/USD
Current chart structure implies that Pound finished ascending zigzag D of (B). In this case, then later pair is expected to form final descending zigzag E of (B). However, this assumption hasn’t been confirmed and price may yet change structure of wave D of (B).
Probably, price completed ascending diagonal triangle [c] of D and started final descending zigzag E. However, we should remember that it’s not the only possible scenario of price movement.
Possibly, pair is forming descending wave E in the form of zigzag. Right now, Pound is finishing local ascending correction (ii) of [a] of E. In this case, price may continue falling down inside impulse (iii) of [a] of E without breaking closest critical level.
USD/CHF
Current chart structure implies that Franc completed descending zigzag D of (4) and started forming final ascending zigzag E of (4) of [C].
Probably, price formed impulse (i) of [a] of E of ascending zigzag E. Possibly, pair finished (or is finishing right now) local descending correction (ii) of [a] of E, which may be followed by ascending impulse (iii) of [a] of E.
Possibly, pair completed (or is completing) descending correction (ii) and started forming ascending impulse (iii).
USD/JPY
Current chart structure implies that Yen finished ascending impulse (A). In this case, later price is expected to start large descending correction (B), may be in the form of zigzag.
Probably, pair has already finished wedge [i] of A of (B) of horizontal correction (B). In this case, then after completing local ascending correction [ii] of A, price is expected to form descending impulse [iii] of A.
Possibly, price completed descending wedge [i] and started forming local ascending correction [ii], which may take the form of zigzag.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
