Thursday, January 20, 2011

Update Daily Market Analysis 20/01

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Daily Forex Technicals | Written by Admiral Markets The Daily Wave Analysis

Currency pair EUR/USD
The price has updated again the local maximum, presumably having finished the impulse v of (c) of [x]. If the assumption is true, it is possible to expect the beginning of decrease in pair as formation of the impulse (wedge) (a) of [y].

Currency pair GBP/USD.
Ascending movement of the price which has begun on January, 7th, 2011, actual market mood looks not finished, that allows to look at the prospective wave (y) of [b] not much differently. Result on the Figure. Presumably, the wave (y) of [b] takes the form of the simple Zigzag at which the impulse with of (y) comes to the end. B same time the price comes nearer to level of cancellation of the given scenario. That speaks about possibility of realisation of alternative.

Currency pair USD/JPY.
Presumably, the correctional wave [ii] of 3 becomes the Double Zigzag at which the impulse with of (y) of [ii] comes to an end. If the assumption is true, after its end, it is possible to expect the beginning of strengthening of US dollar as the first waves of the impulse [iii] of 3. 

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