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.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.