Monday, May 16, 2011

Elliott Wave FX: Weekly EUR-USD/ USD-JPY/ GBP-USD

The Daily Wave Analysis |   Written by Admiral Markets |   May 16 11 03:14 GMT

Currency pair EUR/USD
It is not excluded, that by the present moment of the complete the next phase (X) Triple Zigzag [b] of z. If the assumption is true, it can mean the beginning of intermediate term strengthening of US dollar (eur usd downward) as development of the wave (Z) of [b]. On Figures the possible labelling of realisation of this idea.

Currency pair GBP/USD.
It is not excluded, that the wave [X] of y becomes the Triple Three and by the present moment of the complete its next phase (Y) of [X]. If the assumption is true, the begun descending movement can become the beginning of intermediate term falling of pair (strengthening of US dollar), within the limits of formation of the wave (X) of [X]. On the Figure the possible labelling of realisation of the given idea is presented

Currency pair USD/JPY.
The presented variant of the labelling isn't excluded, that by the correctional wave (2) of [1], has become the Zigzag, and by the present moment of the complete. If the assumption is true, it is possible to expect the beginning of formation of the first waves of the impulse (3) of [1], that is strengthening of US dollar synchronously with European steams.

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