Wave Analysis 02.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

Analysis for July 2^nd, 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