Monday, 2 July 2012

Wave Analysis 02.07.2012 (NZD/USD, EUR/USD)

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Analysis for July 2nd, 2012


It looks like the pair may continue moving downward and wave (C) may take the form of diagonal trianglepattern. On the minor wave level the price is forming the second wave very fast. During the week we can expect the pair to make a reverse and start falling down in wave 3 of (C).

We may assume that wave 2 is taking the form of zigzag pattern. Wave (C) won’t probably be as long and wide as wave (A). Most likely, the correction will be finished within the next several days and the price will start moving downwards again.


We may assume that wave 2 may have already been completed. In the near term, we can expect Euro to start falling down while forming wave 3.

If we take a look at more detailed wave structure, which is shown on the H1 chart, we can see that wave 2 is taking the form of zigzag pattern. The current wave structure implies that the correction may have been finished. In the near term, we can expect the price to start moving downwards again.

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