Article By RoboForex.com
Analysis for December 30th, 2013
EUR/USD
New chart structure implies that price continues forming horizontal triangle [B].
If this assumption that price continues forming correction [B] is correct, then probably Euro finished ascending zigzag (D) of [B].
Probably, pair finished ascending zigzag (D) of [B] and started forming descending zigzag (E).
Possibly, pair started forming descending zigzag (E).
GBP/USD
New chart structure implies that possible correction (B) of [B] is taking form of horizontal triangle and may complete quite soon.
If this assumption about triangle (B) of [B] is correct, then probably price completed ascending zigzag D of [B].
Probably, pair completed ascending wave D of [B] and started forming descending zigzag E of (B).
Possibly, pair started forming descending zigzag E of (B).
USD/CHF
New chart structure implies that Franc is still forming correction (4) in form of skewed triangle.
If this assumption about skewed triangle is correct, then probably price finished descending zigzag D of (4).
Probably, pair finished descending zigzag D of (4) and started forming ascending zigzag E of (4).
Probably, price started forming ascending zigzag E.
USD/JPY
Current chart structure implies that Yen is forming ascending zigzag [4] of large descending diagonal triangle.
If this assumption about ascending zigzag [4] is correct, then right now price is finishing ascending impulse (A) of [4]. In this case, later pair is expected to start descending correction (B) of [4].
Probably, price is finishing ascending impulse 5 of (A), which may be followed by new descending trend inside large correction (B).
Possibly, price is finishing ascending wedge [v] of 5 of (A). If this assumption is correct, then later pair is expected to start descending correction (B).
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
