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.
