Analysis for April 19th, 2013
EUR/USD
We may assume that Euro is forming a descending correction
(2) of [C] in the form of
zigzagA-B-C of (2) of [C].
We can’t exclude a possibility that the price is forming a correction
B of (2) in the form of
zigzag inside a large descending
zigzag(2).
We may assume that Euro started forming a local descending correction
[b] of B, which may take the form of
zigzag.
GBP/USD
We may assume that Pound is forming a final ascending wave
E of (4) of a large
horizontal triangle(4).
We may assume that an ascending wave
E is taking the form of
double zigzag.
There is a possibility that the price is finishing a local descending correction
[x] of E (or its first part, wave
(a) of [x]).
USD/CHF
We may assume that an ascending correction
B of (5) is taking the form of
zigzag and may be followed by a final descending wave
C of (5).
We may assume that a descending correction
[b] of B is taking the form of
zigzag.
We can’t exclude a possibility that a local ascending correction
(b) of [b] may also take the form of
zigzag.
USD/JPY
According to the chart structure, after finishing an ascending
wedge(A) of [4] the price is expected to form a descending correction
(B) of [4].
The chart structure implies that the pair completed an ascending impulse
5 of (A). However, it hasn’t been confirmed yet.
If our assumption that the price started a descending wave
(B) is correct, then later we can expect the pair to form a local ascending correction
[ii] of A of (B) and continue falling down.
RoboForex Analytical Department