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