The daily Wave Analysis for May, 4th, 2012.
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1. Currency pair USD/CHF.
Supposedly, the correctional wave (ii) of [iii] is close to completion . If this assumption is correct, after its completion we can expect a downward price movement in line with the impulse formation (iii) of [iii].
2. Currency pair EUR/USD.
Supposedly, the correctional wave (ii) of [iii] is close to completion . If this assumption is correct, after its completion we can expect an upward price movement in line with the impulse formation (iii) of [iii].
3. Currency pair GBP/USD.
Presumably, the correctional wave iv of (iii) is close to completion . If this assumption is correct, after its completion we can expect an upward price movement in line with the impulse or Diagonal Triangle formation v of (iii).
4. Currency pair USD/JPY.
Presumably formation of correctional wave 2 of (5) has continued . If this assumption is correct, after its completion we can expect a downward price movement in line with the impulse formation 3 of (5).
Igor Pak.
Analyst of company Admiral Markets.
igor.pak@forextrade.ee
At any use of the analytical material taken from the site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for the dealing center «Admiral Markets», the reference to the company site is obligatory.
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