New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.
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This article unites Dmitry Voznuy's two previously published works:
[*]“Running Triple Three" Wave Pattern in the FX market (in Russian).[*]Classification of Extended Wave Corrections (in Russian).
Introduction
For those who are interested in wave analysis it is not a secret that up to 65% of time the FOREX market spends in corrections, which are the most difficult periods to analyze and predict further price movements. Unfortunately, there is another problem: lack of literature about complex wave structures.
At the same time, analyzing financial markets, we come across wave patterns, which are just modifications of classical patterns, described in literature. Their features and characteristics are somewhat different from their prototypes, that makes it necessary to single them out as a separate class, e.g. Robert Prechter's research of leading diagonal triangles, which he singled out in a separate subclass Wedges because of their unique features and characteristics {5}.
In this work features and characteristics of new sub-class of wave combinations, Running Triple Patterns, are given. The author of this article, Dmitry Voznuy, analyzed them in the FOREX market and he suggests new classification of extended corrections, depending on their features.
1. Extended Wave Corrections
According to the Wave Theory of Ralf N. Elliott, price chart reflects traders' psychology. That is why the same or alike patterns on the chart should correspond with identical mass emotions. It is obvious, judging by price charts, that horizontal or almost horizontal formations take the majority of corrective time.
That is why it is natural that a horizontal triangle pattern is the best studied extended wave correction, that is correction which consists of more than three waves. Its unique characteristics make it easier to analyze and predict financial markets. That is why every more or less horizontal and extended wave pattern was chosen for analysis and comparison.
Several types of extended corrections were described by Alfred Frost and Robert Prechter in their most complete description of the Elliott Wave Theory {1}:
[*]triple combinations (triple threes (ТТ) and triple zigzags (ТZ)),[*]horizontal triangles (Т).
Let us review the main features of these patterns.
1.1. Triple Three
Triple three pattern is an array of overlapping wave corrections of simpler types (lower degree), including various types of zigzags, flats and triangles. Each action wave is labeled W, Y and Z. Reaction waves, labeled X, may assume the shape of any corrective pattern, though zigzag is most common. This pattern is shown schematically in Figure 1 below.
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Figure 1. Outline of the Triple Three Pattern.
The first simple pattern (W) often constitutes an adequate price correction in the triple three, whereas almost horizontal doubling (Y) or tripling (Z) appears to occur mainly to extend the duration of the corrective process. Sometimes additional time is required to reach the opposite channel line or to become similar to another wave correction in an impulse.
Thus, a triple three is an extended horizontal wave structure 3-3-3-3-3.
R.Elliott in his book “Nature’s Law” (1946) {2} indicated that the entire formation “could slant against the larger trend” {1}, that is may have bias against the previous trend. Alfred Frost and Robert Prechter wrote {1} that “…we have never found this to be the case” (about the stock market).
The thing is that Alfred Frost and Robert Prechter apply additional restrictions to the triple three – they consider that no more than one zigzag may occur in this pattern as action waves W, Y, Z and no more than one triangle in the whole pattern {1} (the latter results from the features of the triangle itself). Probably, the authors think that the second and the third zigzags may turn this pattern from horizontal into countertrend pattern (compare Figures 1 and 2).
1.2. Triple Zigzag
Judging by the wave structure, triple zigzag pattern is a particular case of a triple three pattern, where each of its action waves may be a zigzag only (simple/double/triple). Action waves are labeled W, Y and Z. Reaction waves, labeled X, may assume the shape of any corrective pattern, though zigzags are most common. This pattern is shown schematically in Figure 2, below.
Triple zigzag differs from the other patterns not only by its more sharp angle (refer to Figure 2), but by its goals also. First zigzag (W) of a triple zigzag pattern is rarely large enough to constitute an adequate price correction of the preceding wave. The doubling (Y) and tripling (Z) of the initial form is usually necessary to create adequately sized price retracement.
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Figure 2. Outline of the Triple Zigzag Pattern.
Thus, a triple zigzag is an extended wave structure 3-3-3-3-3.
Horizontal triangles present a separate sub-class (refer to Figure 3 below). Horizontal triangles are the most famous, best studied class of horizontal corrections. They have their own system of labeling and they differ by some distinct features, such as, for example, restrictions of location in the pattern of the larger degree, that the other mentioned types of corrections do not have.
1.3. Horizontal Triangle
Schematic patterns of regular triangles are shown in Figure 3 below.
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Figure 3. Outlines of Horizontal Triangle Patterns.
Horizontal triangle consists of five overlapping corrective waves. Wave E may also be a horizontal triangle. Forming triangle lines always slant in different directions. All types of triangles may be subdivided into two groups – contracting (6 types in the upper part of the chart) and expanding (2 types in the lower part of the chart).
Wave E of a contracting triangle may not reach basis line A-C or break it but it still can not leave price area of wave C, otherwise triangle geometry will be broken.
Thus, a triangle is an extended horizontal wave pattern 3-3-3-3-3.
1.4 Similarity and Difference of Extended Corrections
First of all it should be noted that every extended wave correction has identical wave structure 3-3-3-3-3.
Triple zigzag is a particular case of a triple three pattern, as all its action waves may be only zigzags by definition. In accordance with its tasks, it may be the deepest correction among all extended corrections.
External difference between a triangle and a triple three is in quite a conventional structure of these patterns. They are almost horizontal and their inner structures are absolutely identical. These patterns show traders' balance of strength in financial markets, their hesitation. Thus, but for different system of labeling, they differ only by additional restrictions, applied to the triple three patterns by Alfred J. Frost and Robert R. Prechter {1}.
Due to the classics of the wave theory we know that it is horizontal triangle, that may be only the prior wave in the pattern of the larger degree, that is:
[*]the forth impulse wave,[*]wave B of a zigzag,[*]wave X in a double combination,[*]second wave X in a triple combination,[*]the final wave in a double/triple three, preceding the final wave of the larger degree.
Due to this feature some important restrictions may be applied to its position in the pattern of the larger degree, that is the following patterns can never be triangles:
[*]the second wave of impulse or wedge,[*]wave W of a double three,[*]waves W, Y and the first wave X in a triple combination,[*]waves A, B, C of a horizontal triangle,[*]waves 1, 2, 3 and 5 of a diagonal triangle.
These features are significant for those who analyze financial markets using Elliott Wave Principle, though it is not clear why these features are not characteristic for the other horizontal or almost horizontal extended corrections.
2. Running Corrections
As it was mentioned earlier, external difference between a triangle and a triple combination is in the shape of the patterns. Triangle forming lines always slant in different directions (one line may be horizontal). Both lines of an ideal triple combination should be either horizontal or against the predominant trend.
That is why any deviation of the triple three forming lines triggers either slant of these lines in different directions or slant in the same direction but along the trend of larger degree.
When the forming lines slant in different directions, a horizontal triangle is formed due to the identical inner structure of these patterns (3-3-3-3-3). When forming lines slant along the dominating trend, a running triple combination is formed. It has not been studied ever before.
Let's speak about known types of running corrections. I could find descriptions only of two such patterns, whereas other patterns were only mentioned.
Running flat is one of them. In “The Wave Principle”, 1938 {2} by Ralf N. Elliott, it is called strong correction.
Hamilton Bolton considered it to be an irregular type of corrections, together with an expanded flat. He wrote about it not in his famous book “The Elliott Wave Principle. A Critical Appraisal.” (1960), but in 1965, in his annual magazine “The Elliott Wave Principle of stock Market Behavior. Bank Credit Analyst Supplement” {3}.
Robert Balan in his book “Elliott Wave Principle. Applied to the Foreign Exchange Markets.”{6} just repeated Hamilton Bolton's classification.
In 1967 and 1970 in column “Thrusts” in “The Elliott Wave Principle of stock Market Behavior. BCA Supplement” {4}, which Alfred Frost continued to publish after Hamilton Bolton death, he wrote:
“A flat formation is generally followed by dynamic market action, which Elliott called a thrust. Within a thrust, corrections are usually subnormal in character, giving impetus to each successive move up or down. Inverted flats are followed by downward thrusts. Triangles have the same technical implication as flats in generating strong market action.”
At last, in 1978 Alfred Frost and Robert Prechter in “Elliott Wave Principle. Key to Market Behavior.” {1} presented new term “running flat”:
“In a rare variation on the 3-3-5 pattern, which we call a running flat, wave B terminates well beyond the beginning of wave A as in expanded flat, but wave C fails to travel its full distance, falling short of the level at which wave A ended. … (as in Fig.4) … Apparently in this case, the forces in the direction of the larger trend are so powerful that the pattern is skewed in that direction.”
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Figure 4. Outlines of Running Flat Patterns.
In 1997 Robert Miner in “Dynamic Trading” {7} mentioned similar running correction as a pattern, preceding continuation of the strong trend. But he assumed that wave A of this correction may consist of 5 waves, and sometimes wave B may be shorter than wave A.
Besides running flat Alfred Frost and Robert Prechter described in their book {1} another type of running patterns - running triangle, which wave b expands outside the beginning of wave a, comparing with regular contracting triangles, formed within the price area of its wave a (refer to Figure 5 below).
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Figure 5. Outlines of Running Triangle Patterns.
“Running double three” and even “running triple three” were briefly mentioned only once by Glenn Neely {8}. They were referred to as “very rare patterns” and there was even no draft of running triple three.
I did not manage to find any research of this type of corrections in sources, known to me. Nevertheless, these patterns are too frequent in the FX market to ignore them.
3. Running triple combinations
Running triple combination (RTC) or Running triple pattern (RTP) combines features and characteristics of their nearest relations - a triple combination and a horizontal triangle.
3.1. Features of Running Triple Pattern.
RTP is a combination of overlapping wave corrections of simpler types, including various types of zigzags, flats and triangles. Each action wave is labeled W, Y and Z. Reaction waves, labeled X, may assume the shape of any corrective pattern, though zigzags are most common. Forming lines of this pattern always slant in the same direction, coinciding with the direction of the preceding trend. Judging by the external shape, contracting and expanding running triple patterns are distinguished (refer to Figure 6 below).
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Figure 6. Outlines of Running Triple Patterns.
Just as a horizontal correction, running triple pattern reflects hesitation of traders, strength balance of bulls and bears, which is gradually outbalanced by the leading trend. It triggers some definite mutual positions of its highs and bottoms and the final price thrust after it (refer to Figure 6).
Just like their classical prototypes, running triple patterns are subdivided into:
[*]running triple threes (RТТ);[*]running triple zigzags (RTZ).
Judging by wave structure, running triple zigzags are a particular case of running triple threes, as their action waves may be only zigzags by definition (simple, double or triple). But, once RTP data bank in the FOREX market had been analyzed, it turned out that the majority of them are running triple zigzags.
The main difference between running triple patterns and their prototypes (TT and TZ) is their characteristics rather than features, as they coincide with unique characteristics of horizontal triangles. Position of running triple correction in the pattern of the larger degree is one of the most important features.
3.2. Characteristics of Running Triple Patterns
I managed to find a running triple combination in the following positions in patterns of larger degree:
[*]wave 4 of an impulse and a diagonal triangle,[*]wave B of a zigzag,[*]wave X of a double zigzag.
This corresponds to three possible positions from five for horizontal triangles, an expanded horizontal wave structure. Moreover, I failed to find RTP in the positions where horizontal triangle should not be by definition:
[*]the second wave of an impulse, a wedge or a diagonal triangle,[*]wave W of a double three,[*]wave W and Y of a triple three,[*]first wave X of a triple three or a triple zigzag,[*]waves A, B, C of a horizontal triangle,[*]waves 1, 2, 3 and 5 of a diagonal triangle.
These facts are well enough to suppose that a running triple pattern can be only prior figure in the pattern of larger degree by analogy with a horizontal triangle.
Moreover, when RTP is forming at the place of the forth impulse wave, like a horizontal triangle, the final price thrust, which follows it, in the majority of cases is tending to cover the distance equal, as minimum, to the height of the running triple pattern (H rtp). Very rarely the final impulse wave is 62% or 78% of this pattern height.
In case when a running triple three is wave B of a zigzag or wave X of a double zigzag, the price movement target after it should be better defined by the length of the first wave of the larger degree pattern and suitable Fibo coefficient, rather then wave X height. Even in these cases the price will try to cover minimum 62% of H rtp.
In different charts (weekly and smaller time-frame) I found lots of such patterns. Some of them are shown below.
3.3. Real Examples of Running Triple Zigzag Patterns
It seems that a running triple zigzag contradicts the essence of the wave theory, forming correction slant in the direction, not against the leading trend, forming not the deepest but minimal and even (very rear!) negative retracement. This is factually proved in the FOREX market. In the majority of cases RTZ forms retracements from 24% to 3% of previous impulse and the maximum negative retracement is fixed at the rate minus 3.38% (refer to Figures 7 and 8).
By this time there are more than 60 examples of running triple patterns in different time-frames in the data bank of RTP (> 95% out of them are RTZ). Table 1 presents mutual percentage of wave patterns in the FX markets with running triple pattern.
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Table 1. Mutual percentage of wave patterns with RTP in the FX markets.
Of course, because of quite a small sample these figures may be considered approximate. Charts with a running triple zigzag pattern are shown in Figures 7-11.
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Figure 7. RTZ as wave iv of an impulse. Negative retracement (-3.38%).
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Figure 8. RTZ as wave (iv) of an impulse. Positive retracement (16%).
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Figure 9. RTZ as wave (4) of a diagonal triangle.
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Figure 10. RTZ as wave (b) of a zigzag.
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Figure 11. RTZ as wave Х of a double zigzag.
Current classification of extended corrections should be modified as a new type of corrections emerged, moreover there are some contradictions in the current classification.
4. Classification of the Extended Corrections.
First of all I would like to specify some items in the current classification.
Horizontal position of the forming lines of a correction, theoretically possible at triple three patterns, is very rare on the real market and it may be transition state between slanting triple threes and horizontal triangles.
From my point of view, a horizontal triple pattern is much alike horizontal triangles, rather than classical slanting corrections judging by their form and characteristics. Even theoretically a corrective pattern with horizontal forming lines is just a particular case of horizontal triangles, being by its external shape some transition form between contracting and expanding triangles. It also should be noted that this pattern by its external shape is like a rectangle (or a parallelogram).
More than that, judging by internal structure triple patterns with horizontal forming lines may consist of zigzags (as well as triangles), that is to be triple zigzags according to the old classification, preserving its horizontality. In this case one feature of classical triple zigzags is lost – sharp angle of development and goals, assigned by the classics to this type of corrections, are also doubtful.
Of course, external shape of extended correction (in case their internal structure is identical) is just a feature for its accurate identification, which does not allow to assign any pattern to the group with unique characteristics, is illustrative of triangles.
It is high time to mention new regularity among extended corrections in the FOREX market. It is known that horizontal triangles and running triple patterns possess some unique characteristics. For example, they may be only a prior figure in the pattern of the larger degree. The other corrective patterns have not had such characteristic till now.
I succeeded in finding further interesting feature of extended corrections - the more horizontal classical triple corrective pattern (TT or TZ) is, the more it is probable that it will possess characteristics of horizontal triangle, thus being the prior figure in the pattern of the larger degree.
According to the said above, a rectangle (as it is absolutely horizontal) may be assigned to the group of triangles in the classification of corrections.
To rectangle types should be also assigned “failed triangles”, that is corrections, which are at first assigned to the category of triangles due to the slant of their forming lines, but then they may be considered to be only a horizontal triple three (or triple zigzag) because of broken geometry. A triangle shape is often broken by the last price thrust before the direction of the trend is changed (wave Z), which leaves price area of wave Y (and W). One of examples is shown in Figure 12.
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Figure 12. Rectangle as wave (iv) of an impulse.
Refer to Table 2 for complete modified classification:
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Table 2. Proposed classification of extended corrections.
Note. In the table outlines of patterns are shown for the bullish market. For the bearish market they should be reversed.
The order of corrections in this classification reflects depth of possible retracement, formed by corrections: triple zigzags form the deepest retracement whereas running triple zigzags may form the smallest one.
Moreover, extended corrections of groups II – III possess all the features of horizontal triangles, the first one “tries” to do so.
As for labeling, I consider that it should remain unchanged.
Conclusion
From my point of view proposed classification reflects the main features and characteristics of extended corrections more clearly, not only adding new types, but also assigning groups features more logically.
Moreover, new patterns and characteristics of extended corrections will be useful for practical usage of the Wave Principle in the FX market.
Reference
{1} “Elliott Wave Principle. Key to Market Behavior.”, A.J.Frost, R.R.Prechter, Jr., 1978.
{2} “R.N.Elliott’s Masterworks. The Definitive Collection”, edited by R.R.Prechter, Jr., 1994.
{3} “The Complete Elliott Wave Writings of A.Hamilton Bolton”, edited by R.R.Prechter, Jr., 1994.
{4} “The Elliott Wave Writings of A.J.Frost and Richard Russell”, edited by R.R.Prechter, Jr., 1996.
{5} “The Elliott Wave Theorist”, November 2003 issue.
{6} “Elliott Wave Principle. Applied to the Foreign Exchange Markets”, Robert Balan, 1989.
{7} “Dynamic Trading. Dynamic Concepts In Time, Price and Pattern Analysis”, Robert Miner, 1997.
{8} “Mastering Elliott Wave aka Neo-Wave. Version 2.0”. Glenn Neely, 1990.
{9} “Running Triple Three Wave Pattern in the FX market”, D.Voznuy, Forex Magazine #83, August 2005. (in Russian)
(10} “Classification of Extended Wave Corrections”, D.Voznuy, Forex Magazine #91, October 2005. (in Russian)
Dmitry Voznuy
forDmitry@yahoo.comDecember 6, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari.
Imaginary Skewer
Local price movement against the dollar was completed on September, 5. I assume it was the second wave (X) of the triple zigzag. At the same time it might be a part of this wave-link, e.g. wave A of (X), whereas wave (X) may still keep forming.
The last variant arose from the following facts:
[*]At first, many-week horizontal triangle, formed on the charts of all described currency pairs in 2004 (in figures below it is encircled by blue ellipse). Its skewer may become the skewer of further corrections in future – now and/or from the second half of 2006 on the way back of price movement against the dollar.[*]Secondly, correction three pattern (probably, wave (A of (X)), which tested this skewer by its middle part;[*]At last, this variant does not contradict the supposition that triple zigzag is forming, that is considered to be the main one.
In case this variant is confirmed, in the nearest future this skewer may become the center of quite an extended horizontal or almost horizontal correction, e.g. horizontal triangle or (running) triple three.
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Figure 1. Possible skewer for USD/CHF.
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Figure 2. Possible skewer for EUR/USD.
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Figure 3. Possible skewer for GBP/USD.
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Figure 4. Possible skewer for USD/JPY.
Note that this is one variant of further price behavior in addition to the scenarios, described previously (refer to Possible Variants of Correction Development until March, 2006 (in Russian). I hope that in the nearest future price will either confirm or cancel it.
Reference
[*]FOREX forecast, 2005 (in Russian)[*]Monthly Wave Analysis, September, 2005 (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]Wave Counting Marking (in Russian)[*]Typical Trading Plan using Elliott's Waves (in Russian)* Wave analysis
Dmitry Voznuy
forDmitry@yahoo.comSeptember 18, 2006The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari
Wave Counting Marking (based on the last materials of Robert R. Prechter)
Table 1. Agreed Wave Counting Marking.
Wave Degree5s With the Trend3s Against the TrendTime FrameTriad of Arabic FiguresTriad of Upper CaseGrand Supercycle
*
* Millennial, secular Supercycle
(I) (II) (III) (IV) (V) (a) (b) (c) (d) (e)
(w) (x) (y) (z) Secular, annual Cycle
I II III IV V a b c d e
w x y z Annual, quarterly, monthly Primary
*
* Quarterly, monthly, weekly, daily Intermediate
(1) (2) (3) (4) (5) (A) (B) (C) (D) (E)
(W) (X) (Y) (Z) Monthly, weekly, daily Minor
1 2 3 4 5 A B C D E
W X Y Z Monthly, weekly, daily, 240 min Minute
*
* Weekly, daily, 480-60 min Minuette
(i) (ii) (iii) (iv) (v) (a) (b) (c) (d) (e)
(w) (x) (y) (z) Daily, 480-60 min Subminuette
i ii iii iv v a b c d e
w x y z 480-60 min and less Micro-1, -2, -3 Triad of Arabic FiguresTriad of Upper CaseMicro-4, -5, -6 Triad of Roman FiguresTriad of Lower Case
* In his works Robert Prechter used encircled symbol to label some wave degrees, but later this symbol was replaced by square brackets to ease wave counting marking, as there is no encircled symbol in most of the programs.
Arabic figures coincide with the letters in the upper case (1 – A), whereas Roman figures correspond to the letters in the lower case (I - a, i - a). Roman figures in the upper case should be used only from the Cycle and higher.
Please note that this way of marking makes it possible to label wave degrees without any limits of increase or decrease of time frames of the examined charts. Thus it provides unique identification of wave degrees and their patterns with almost unlimited number of degrees within them.
There is the following scheme to choose the kind of symbols for wave degrees, decreasing to the right: -(A1)-A1--(ai)-ai and then again -(A1)-A1--(ai)-ai and again -(A1)-A1--(ai)-ai etc.
Each triad differs from the other one by its font size, whereas degrees within each triad differ not only by additional marks (), [], but by their color as well.
Note
I added Micro-1, -2, ..., -6 names for the smallest wave degrees (1...60 min charts).
Four examples are given below to illustrate wave counting on USD/CHF quarterly, monthly, weekly and daily charts (they are taken mainly from Robert Prechter's works). Wave degrees from Cycle to Minuette can be clearly seen there.
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Figure 1. Example of Wave Counting on the Quarterly Chart.
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Figure 2. Example of Wave Counting on the Monthly Chart.
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Figure 3. Example of Wave Counting on the Weekly Chart.
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Figure 4. Example of Wave Counting on the Daily Chart.
--
Dmitry Voznuy
forDmitry@yahoo.com
The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart
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Figure 1. Wave analysis on 480M chart.
The wave is expected to have assumed the shape of wave surface.
In the mid-term perspective uptrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
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Figure 2. Wave analysis on 120M chart.
In Figure 2 wave analysis for this currency is shown on 120M chart. Upward impulse is expected to be forming.
In the short-term perspective uptrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
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Figure 3. Wave analysis on 480M chart.
The wave is expected to have assumed the shape of wave surface.
In the mid-term perspective downtrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
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Figure 4. Wave analysis on 120M chart.
In Figure 4 wave analysis for this currency is shown on 120M chart. Downward impulse is expected to be forming.
In the short-term perspective downtrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
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Figure 5. Wave analysis on 480M chart.
The wave is expected to have assumed the shape of extended wave surface.
In the mid-term perspective downtrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
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Figure 6. Wave analysis on 120M chart.
In Figure 6 wave analysis for this currency is shown on 120M chart. Downward impulse is expected to be forming.
In the short-term perspective downtrend is expected to keep forming. The price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 7 for the renewed draft of wave analysis for this currency on 480M chart.
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Figure 7. Wave analysis on 480M chart.
The yen found itself in a very interesting situation. The final wave of the presupposed (v) impulse may be considered to be a full v wave. Especially as it is equal to the widest part of the triangle (refer to Figure 8). So the upward impulse may be almost completed.
Though the last price spike upward may be just the first of v sub-wave, that is as its constituents, i и iii waves, are almost equal, the expected (v) impulse may develop stretching in its fifth v wave.
In the mid-term perspective wave perspectives are expected to become clearer. The price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
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Figure 8. Wave analysis on 120M chart.
Zigzag, mentioned yesterday, having added several waves transformed into an upward impulse stretching to the final wave (the ? impulse). It may be expected on 480M chart.
The (5) of high break will be a signal of the forming stretching in the v wave, only once rebound is formed (the ? wave).
In the short-term perspective wave perspectives are expected to become clearer. The price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005Dmitry Voznuy
forDmitry@yahoo.comNovember, 01, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
[ 本帖最后由 hefeiddd 于 2009-4-13 05:57 编辑 ]
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051125083929.gif
Figure 1. Wave analysis on 480M chart.
Price downward movement may be a wedge. If this supposition is correct the Х wave may assume the shape of a simple zigzag with completion in the mid of December at 1.27.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0511/051125084013.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. Upward correction (the wave) may surpass the W wave top level, but as the way, minimum required for correction, has been passed, prices may drop at any moment.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051125084057.gif
Figure 3. Wave analysis on 480M chart.
Price upward movement may be a wedge. If this supposition is correct the Х wave may assume the shape of a simple zigzag with completion in the mid of December at 1.22.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0511/051125084137.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. Downward correction (the wave) may fall below the W wave top, but as the way, minimum required for correction, has been passed, prices may jump at any moment.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051125084227.gif
Figure 5 . Wave analysis on 480M chart.
As the expected final wave of the impulse is not formed yet, the alternative variant in the lower part of the chart is valid.
In the mid-term plan price behavior is expected to become more clear. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0511/051125084313.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6. If the supposition is correct, then in case the**i* and v waves are approximately equal, the (v) impulse completion may be expected around 1.71.
In the short-term plan the (v) impulse completion is expected. Possible prices behavior is expected to become more clear. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051125084401.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7. The wave of the A impulse is supposed to complete its forming now.
In the mid-term perspective the А impulse completion and the B correction are expected. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0511/051125084447.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. The wave is supposed to be forming with extension in the first (i) wave. If this supposition is correct, the (v) wave should be shorter than the (iii) wave with completion below 120.90.
In the short-term plan the impulse is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005Dmitry Voznuy
forDmitry@yahoo.comNovember, 25, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051128073214.gif
Figure 1. Wave analysis on 480M chart.
The wave may be treated as the wedge. If this supposition is correct the Х wave may assume the shape of a simple zigzag with completion in the mid of December at 1.27.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0511/051128073318.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. Upward correction (the wave) may surpass the W wave top level. Return to 76% is the optimal variant for this pattern.
In the short-term plan the wave is expected to start forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051128073400.gif
Figure 3. Wave analysis on 480M chart.
The wave may be treated as the wedge. If this supposition is correct the Х wave may assume the shape of a simple zigzag with completion in the mid of December at 1.22.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0511/051128073439.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. Downward correction (the wave) may intersect the W wave top. But return to 76% is the optimal variant for this pattern.
In the short-term plan the wave is expected to start forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051128073518.gif
Figure 5 . Wave analysis on 480M chart.
The impulse of the W zigzag is supposed to complete.
In the mid-term plan the impulse completion is expected to be confirmed and the beginning of the Х wave forming is expected. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0511/051128073558.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6.
In the short-term plan the (v) impulse completion is expected to be confirmed and the Х wave forming is expected. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051128073639.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7. The wave of the A impulse is supposed to complete its forming.
In the mid-term perspective the А impulse completion is expected to be confirmed and the B correction is expected to begin. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0511/051128073721.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. The wave is supposed to be forming with extension in the first (i) wave. If this supposition is correct, the (v) wave should be shorter than the (iii) wave with completion below 120.90.
In the short-term plan completion of the impulse is expected to be confirmed and downward correction may begin. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, November, 2005
Dmitry Voznuy
forDmitry@yahoo.comNovember, 28, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”...[*]MONTHLY Wave Analysis, November, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051129073126.gif
Figure 1. Wave analysis on 480M chart.
The Х wave may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.27 . The nearest alternative scenario is shown in the upper part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0511/051129073209.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. The of X wave is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051129073251.gif
Figure 3. Wave analysis on 480M chart.
The Х wave may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0511/051129073338.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. The of X wave is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051129073423.gif
Figure 5 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 5. The W zigzag is supposed to be completed. The Хwave is forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0511/051129073516.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6. The X wave is forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051129073600.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7. The A of (Z) impulse is supposed to be completed. It will be confirmed by price fixing below 118.00. The В wave is forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 115.
In the mid-term perspective the А impulse completion is expected to be confirmed and the B correction wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0511/051129073643.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. The В wave keeps forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan completion of the А impulse is expected to be confirmed and downward correction is expected to continue. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, November, 2005
Dmitry Voznuy
forDmitry@yahoo.comNovember, 29, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, November, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051130080846.gif
Figure 1. Wave analysis on 480M chart.
The Х wave may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.27 . The nearest alternative scenario is shown in the upper part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0511/051130080941.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. The of X wave is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051130081023.gif
Figure 3. Wave analysis on 480M chart.
The Х wave may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0511/051130081110.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. The of X wave is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan the wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051130081156.gif
Figure 5 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 5. The W zigzag is supposed to be completed. The Хwave is forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0511/051130081236.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6. The X wave is forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan the Х wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, November, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0511/051130081316.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7. The A of (Z) impulse is supposed to be completed. It will be confirmed by price fixing below 118.00. The В wave is forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 115.
In the mid-term perspective the А impulse completion is expected to be confirmed and the B correction wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0511/051130081357.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. The В wave keeps forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan completion of the А impulse is expected to be confirmed and downward or side correction is expected to continue. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, November, 2005
Dmitry Voznuy
forDmitry@yahoo.comNovember, 30, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051201072447.gif
Figure 1. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051201072531.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. Wave of X is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051201072617.gif
Figure 3. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051201072702.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. Wave of X is forming. It may assume the shape of an impulse or diagonal triangle.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051201072752.gif
Figure 5 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 5. Zigzag W is supposed to be completed. Wave Хis forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. For it upward support level testing at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant is shown in the lower part of the chart.
In the mid-term plan the Х wave is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051201072836.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6. Wave X is forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051201072952.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7. Impulse A of (Z) is supposed to be completed. It will be confirmed by price fixing below 118.00. Wave В is forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 115.
In the mid-term perspective impulse А completion is expected to be confirmed and corrective wave B is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051201073030.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. Wave В keeps forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan completion of impulse А is expected to be confirmed and downward or sideways correction is expected to continue. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, December, 2005
Dmitry Voznuy
forDmitry@yahoo.comDecember, 1, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Introduction
On the whole forecasts are still the same. But price is moving in the bifurcation area, the main and alternative variants are still valid. It takes more time than expected for the price behavior to become clearer.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051202093054.gif
Figure 1. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 2 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051202093135.gif
Figure 2. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051202093217.gif
Figure 3. Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 3. Zigzag W is supposed to be completed. Wave Хis forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. For it upward support level testing at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 4 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051202093314.gif
Figure 4 . Wave analysis on 480M chart.
Uptrend continues. Judging by new wave pattern of the last upward movement it may be assumed that double zigzag is forming. In this case it may be supposed that the top of wave A was formed earlier, and forming wave B is assuming the shape of expanded flat.
In the mid-term perspective downward wave (c) is expected to begin. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, December, 2005
Dmitry Voznuy
forDmitry@yahoo.comDecember, 2, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051205091805.gif
Figure 1. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051205091848.gif
Figure 2. Wave analysis on 120M chart.
Renewed wave analysis is shown in Figure 2. Wave is assuming the shape of expanded flat, where wave (c)of is more likely to be a diagonal triangle than an impulse.
In the short-term plan wave completion is expected to be confirmed, wave is expected to start forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051205091929.gif
Figure 3. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051205092007.gif
Figure 4 . Wave analysis on 120M chart.
Renewed wave analysis is shown in Figure 4. Wave is assuming the shape of expanded flat, where wave (c)of is more likely to be a diagonal triangle than an impulse.
In the short-term plan wave completion is expected to be confirmed, wave is expected to start forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051205092059.gif
Figure 5 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 5. Zigzag W is supposed to be completed. Wave Хis forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. For it upward support level testing at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051205092145.gif
Figure 6. Wave analysis on 120M chart.
Renewed wave analysis is shown in Figure 6. Wave may have assumed the shape of the “wedge” with extension in the first wave. If the supposition is correct, after a short retracement ( wave), upward wave will start forming.
In the short-term plan wave is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051205092226.gif
Figure 7 . Wave analysis on 480M chart.
Renewed wave analysis is shown in Figure 7. The price is in uptrend. Prices may reverse at 122.00.
In the mid-term perspective impulse А completion is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, December, 2005
Dmitry Voznuy
forDmitry@yahoo.comDecember, 5, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge is tested any impulse or zigzag of any size may be considered to be completed. The inner wave marking of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave analysis, alternative variants and possible schematic price movements are given in:[*]…“Imaginary Skewer”... [*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051206090007.gif
Figure 1. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051206090055.gif
Figure 2. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 2. Wave assumed the shape of expanded flat. Final impulse is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051206090141.gif
Figure 3. Wave analysis on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051206090227.gif
Figure 4 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 4. Wave assumed the shape of expanded flat. Final impulse is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051206090315.gif
Figure 5 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 5. Wave Хis forming, it may assume the shape of a simple (or double/triple) zigzag with completion in the mid of December at 1.78. For it upward support level testing at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051206090411.gif
Figure 6. Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 6. Wave may have assumed the shape of the wedge with extension in the first wave. If this supposition is correct final wave is forming now.
In the short-term plan wave [с] is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave analysis for this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the draft of wave analysis for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051206090454.gif
Figure 7 . Wave analysis on 480M chart.
Possible wave analysis is shown in Figure 7.
In the mid-term perspective impulse А completion is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051206090540.gif
Figure 8 . Wave analysis on 120M chart.
Possible wave analysis is shown in Figure 8. Wave В keeps forming, it may assume the shape of a simple (or double/triple) zigzag.
In the short-term plan completion of impulse А is expected to be confirmed and downward or sideways correction is expected to continue. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
* …“Imaginary Skewer”...
* MONTHLY Wave Analysis, December, 2005
Dmitry Voznuy
forDmitry@yahoo.comDecember, 6, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:* …“Imaginary Skewer”... * MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051207085505.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051207085557.gif
Figure 2. Wave counting on 120M chart.
Possible wave counting is shown in Figure 2. Wave assumed the shape of expanded flat. Final impulse is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051207085644.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051207085723.gif
Figure 4 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 4. Wave assumed the shape of expanded flat. Final impulse is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051207085809.gif
Figure 5 . Wave counting on 480M chart.
Possible wave counting is shown in Figure 5. Wave Хis supposed to be forming, it may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.78. For it price fixing above support at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051207085849.gif
Figure 6. Wave counting on 120M chart.
Possible wave counting is shown in Figure 6. Wave may have assumed the shape of the “wedge” with extension in the first wave. If the supposition is correct, final wave is forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051207085936.gif
Figure 7 . Wave counting on 480M chart.
Possible wave counting is shown in Figure 7. Completion of wave A is not confirmed yet. May be its final waves are not formed yet.
In the mid-term perspective impulse А completion is expected to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051207090016.gif
Figure 8 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 8. Formed downtrend is of corrective rather than impulse character.
In the short-term plan impulse A completion is supposed to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]…"Imaginary Skewer”... [*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005Dmitry Voznuy
forDmitry@yahoo.comDecember, 7, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:* …“Imaginary Skewer”... * MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051208093631.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For this downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price behavior is expected become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051208093719.gif
Figure 2. Wave counting on 120M chart.
Possible wave counting is shown in Figure 2. Wave assumed the shape of expanded flat. Final impulse (or diagonal triangle) is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051208093805.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005).The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051208093852.gif
Figure 4 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 4. Wave assumed the shape of expanded flat. Final impulse (or diagonal triangle) is supposed to be forming.
In the short-term plan wave is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051208093938.gif
Figure 5 . Wave counting on 480M chart.
Possible wave counting is shown in Figure 5. Wave Хis supposed to be forming, it may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.78. For it price fixing above support at 1.7300-1.7350 is required (refer to MONTHLY Wave Analysis, December, 2005. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051208094018.gif
Figure 6. Wave counting on 120M chart.
Renewed wave counting is shown in Figure 6. Wave may have assumed the shape of the “wedge” with extension in the first wave. If the supposition is correct, wave forming is almost completed.
In the short-term plan wave is expected to start forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051208094059.gif
Figure 7 . Wave counting on 480M chart.
Possible wave counting is shown in Figure 7. Completion of wave A is not confirmed yet. Final price upward thrust is supposed to be required to complete the current impulse.
In the mid-term perspective impulse А completion is expected to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051208094143.gif
Figure 8 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 8. Extended correction (wave (iv)) assumed quite horizontal shape and the final thrust may reach, at least, 121.50.
In the short-term plan impulse A completion is supposed to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*][*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005Dmitry Voznuy
forDmitry@yahoo.comDecember, 8, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:* …“Imaginary Skewer”... * MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051209101125.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the middle of December at 1.27. For it downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005). Though it can not do it yet. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 2 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051209101214.gif
Figure 2. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005). It is not done yet. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051209101257.gif
Figure 3. Wave counting on 480M chart.
Wave Хis supposed to be forming, it may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.78. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 4 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051209101343.gif
Figure 4. Wave counting on 480M chart.
Several possible variants are shown in Figure 7. Completion of wave A is not confirmed yet. Final price upward thrust is supposed to be required to complete the current impulse.
In the mid-term perspective impulse А completion is expected to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]…“Imaginary Skewer”...[*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005Dmitry Voznuy
forDmitry@yahoo.comDecember, 9, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Introduction
Situation with all the pairs described below is quite ambiguous. On the one hand it corresponds with the monthly forecast (refer to MONTHLY Wave Analysis, December, 2005).
On the other hand, the waves, marked on the wave counting draft as and , may be the first waves of the global impulse (or diagonal triangle) against the dollar.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:* …“Imaginary Skewer”... * MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051212092342.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the middle of December at 1.27. For it downward support testing at 1.3000-1.3050 is required (refer to MONTHLY Wave Analysis, December, 2005), the price still can not do it yet, and wave in the shape of an impulse is also necessary for it. Wave may be much shorter if it assumes the shape of a diagonal triangle.
The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 2 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051212092542.gif
Figure 2. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22. For this upward support testing at 1.1850-1.1900 is required (refer to MONTHLY Wave Analysis, December, 2005). It is not done yet. Wave in the shape of an impulse is also necessary for it. Wave may be much shorter if it assumes the shape of a diagonal triangle.
The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051212092644.gif
Figure 3. Wave counting on 480M chart.
Wave Хis supposed to be forming, it may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.78. The nearest alternative variant (refer to MONTHLY Wave Analysis, December, 2005) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to keep forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 4 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051212092733.gif
Figure 4. Wave counting on 480M chart.
Several possible variants are shown in Figure 4. Completion of wave A is not confirmed yet. Wave may be treated as the downward wedge.
In the mid-term perspective impulse А completion is expected to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]…“Imaginary Skewer”...[*]MONTHLY Wave Analysis, December, 2005Dmitry Voznuy
forDmitry@yahoo.comDecember, 12, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd
Introduction
In the article Confirmation of the annual forecast by price movement and Robert R. Prechter's team, October, 17 (in Russian), prof's wave counting sequential transformation for this year was shown. As the result of this transformation, the difference between our forecasts was minimal in October, particularly, they differed by the shape of the final wave of many-weeks correction : According to my main scenario, the double (or triple) zigzag was expected (refer to Figure v1 below), whereas according to Robert Prechter, simple zigzag was presupposed (Figures v2 and v3 below).
http://www.alpari-forex.com/files/0512/051213085219.gif
Figure v1. EUR/USD wave counting in October.
http://www.alpari-forex.com/files/0512/051213085324.gif
Figure v2. Wave counting of Robert R. Prechter's team in October.
http://www.alpari-forex.com/files/0512/051213085424.gif
Figure v3. Wave counting of Robert R. Prechter's team in December.
Today I have received the last scenario modified by Robert R. Prechter's team (Figure v4, below).
http://www.alpari-forex.com/files/0512/051213085535.gif
Figure v4. The last wave counting of Robert R. Prechter's team.
Judging by this chart, prof's team also expects that the final wave of many-weeks correction is assuming the shape of double (or triple) zigzag.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:[*]Annual-05 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051213085652.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the middle of December at 1.27 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian)), is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051213085745.gif
Figure 2. Wave counting on 120M chart.
Possible wave counting is shown in Figure 2. Wave is supposed to be assuming the shape of impulse. Wave (i)of may be a wedge, this is a draft analysis.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051213085846.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.22 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian)), is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051213085944.gif
Figure 4 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 4. Wave is supposed to be assuming the shape of impulse. Wave (i)of may be a wedge, this is a draft analysis.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051213090033.gif
Figure 5 . Wave counting on 480M chart.
Wave Х is supposed to be forming, it may assume the shape of a simple (or double) zigzag with completion in the mid of December at 1.78 or 1.79**. The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian)) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051213090124.gif
Figure 6. Wave counting on 120M chart.
Possible wave counting is shown in Figure 6. Wave may have assumed the shape of the “wedge” with extension in the first wave, wave may have assumed the shape of a simple impulse.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051213090215.gif
Figure 7 . Wave counting on 480M chart.
Completion of wave A is not confirmed yet. Wave may be treated as the downward wedge (refer to Figure 8 below), then supposed correction B may assume the shape of a simple zigzag.
In the mid-term perspective impulse А completion is expected to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051213090315.gif
Figure 8 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 8.
In the short-term plan impulse A completion is supposed to be confirmed. Price behavior is expected to become clearer. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]FOREX forecast, 2005 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]“…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005[*]Wave Counting Marking (in Russian)[*]Wave analysis (in Russian)Dmitry Voznuy
forDmitry@yahoo.comDecember, 13, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:[*]Annual-05 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051214080757.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the middle of December at 1.27 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051214080941.gif
Figure 2. Wave counting on 120M chart.
Previous wave counting is valid. Wave is supposed to be assuming the shape of impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051214081248.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the mid of December at 1.22 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051214081348.gif
Figure 4 . Wave counting on 120M chart.
Previous wave counting is valid. Wave is supposed to be assuming the shape of impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051214081437.gif
Figure 5 . Wave counting on 480M chart.
Wave Хis supposed to be forming, it may assume the shape of a simple zigzag with completion in the mid of December at 1.78 or 1.79**. The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement in Russian)) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051214081535.gif
Figure 6. Wave counting on 120M chart.
Possible wave counting is shown in Figure 6. Wave may have assumed the shape of the “wedge” with extension in the first wave, wave may have assumed the shape of a simple impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051214081626.gif
Figure 7 . Wave counting on 480M chart.
Price broke the lower line of the channel. Expected wave A is completed.
Wave of B may be treated as a downward wedge (refer to Figure 8 below), then supposed correction B may assume the shape of a simple zigzag. At the same time this zigzag may be just a constituent of wave B.
In the mid-term perspective wave B is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051214081714.gif
Figure 8 . Wave counting on 120M chart.
Possible wave counting is shown in Figure 8. Wave is supposed to be assuming the shape of an impulse, for which completion (iv) and (v) waves forming is required.
In the short-term plan impulse forming is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]FOREX forecast, 2005 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]“…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005[*]Wave Counting Marking (in Russian)[*]Wave analysis (in Russian)Dmitry Voznuy
forDmitry@yahoo.comDecember, 14, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:[*]Annual-05 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051215074325.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the middle of December at 1.27 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051215074425.gif
Figure 2. Wave counting on 120M chart.
Wave is supposed to be assuming the shape of impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051215074515.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the mid of December at 1.22 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051215074708.gif
Figure 4 . Wave counting on 120M chart.
Wave is supposed to be assuming the shape of impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051215074758.gif
Figure 5 . Wave counting on 480M chart.
Wave Хis supposed to be forming, it may assume the shape of a simple zigzag with completion in the mid of December at 1.78 or 1.79**. The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement in Russian)) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051215074847.gif
Figure 6. Wave counting on 120M chart.
Wave may have assumed the shape of the “wedge” with extension in the first wave, wave may have assumed the shape of a simple impulse, for its completion waves (iv) and (v) forming is required.
In the short-term plan wave is expected to complete its forming. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051215074943.gif
Figure 7 . Wave counting on 480M chart.
Wave of B may be treated as a downward wedge (refer to Figure 8 below), then supposed correction B may assume the shape of a simple zigzag. At the same time this zigzag may be just a constituent of wave B.
In the mid-term perspective wave B is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051215075053.gif
Figure 8 . Wave counting on 120M chart.
Wave is supposed to be assuming the shape of an impulse, for which completion (iv) and (v) waves forming is required. In case waves (i) and (v) are equal, impulse completion may be expected around 116.
In the short-term plan impulse forming is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]FOREX forecast, 2005 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]“…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005[*]Wave Counting Marking (in Russian)[*]Wave analysis (in Russian)Dmitry Voznuy
forDmitry@yahoo.comDecember, 15, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd.
Note
[*]Once the opposite to the trend edge (base line or trend line) is tested any impulse or zigzag of any size may be considered to be completed. The inner wave counting of such a movement is of conventional character.[*]The error of the trend reversal points defining with the help of impulse method is about +/- 1..4 time units. Date on the weekly chart is the last day of the current week.[*]Often support and resistance levels, mentioned in the reports, are remote from the current price. In this case confirming or denying signals may be delayed. That is why in addition to the critical levels analysis inner structure analysis of the waves, moving in the same direction, should be used.[*]It should be remembered that EWA forecasts show the probable price movements. This report is subject to change and reveals the analyst opinion of the situation at the moment of its release.[*]Given possible trading plans are purely informational purpose only and they should not be considered as trading guides.[*]Survey wave counting, alternative variants and possible schematic price movements are given in:[*]Annual-05 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]MONTHLY Wave Analysis, December, 2005
1. USD/CHF
For CHF survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 1 for the wave counting draft for this currency on 480M chart.
http://www.alpari-forex.com/files/0512/051216084406.gif
Figure 1. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the middle of December at 1.27 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the upper part of the chart.
In the mid-term plan wave Х is expected to complete its forming, uptrend is supposed to begin. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.
http://www.alpari-forex.com/files/0512/051216084512.gif
Figure 2. Wave counting on 120M chart.
Wave is supposed to be assuming the shape of impulse, for its completion final wave (v) forming is required.
In the short-term plan wave is expected to complete its forming. Uptrend is supposed to begin. Price movement schematic forecast and support/resistance levels are shown in the chart.
2. EUR/USD
The above information about CHF is the mirror image of that one about EUR. For EUR survey wave counting refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 3 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051216084606.gif
Figure 3. Wave counting on 480M chart.
Wave Х may assume the shape of a simple zigzag with completion in the mid of December at 1.22 (refer to MONTHLY Wave Analysis, December, 2005) and form wave in the shape of an impulse.
The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement (in Russian), is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Downtrend is supposed to begin. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.
http://www.alpari-forex.com/files/0512/051216084654.gif
Figure 4 . Wave counting on 120M chart.
Wave is supposed to be assuming the shape of an impulse, for its completion final wave (v) forming is required.
In the short-term plan wave is expected to complete its forming. Downtrend is expected to begin. Price movement schematic forecast and support/resistance levels are shown in the chart.
3. GBP/USD
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 5 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051216084752.gif
Figure 5 . Wave counting on 480M chart.
Wave Хis supposed to be forming, it may assume the shape of a simple zigzag with completion in the mid of December at 1.78 or 1.79**. The nearest alternative variant (refer to Depth of the Current Retracement will specify further price movement in Russian)) is shown in the lower part of the chart.
In the mid-term plan wave Х is expected to complete its forming. Downtrend is expected to begin. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.
http://www.alpari-forex.com/files/0512/051216084846.gif
Figure 6. Wave counting on 120M chart.
Wave may have assumed the shape of the “wedge” with extension in the first wave, wave may have assumed the shape of a simple impulse, for its completion final wave (v) forming is required.
In the short-term plan wave is expected to complete its forming. Downtrend is expected to begin. Price movement schematic forecast and support/resistance levels are shown in the chart.
4. USD/JPY
For survey wave counting of this currency refer to MONTHLY Wave Analysis, December, 2005. Refer to Figure 7 for the wave counting draft of this currency on the 480M chart.
http://www.alpari-forex.com/files/0512/051216084938.gif
Figure 7 . Wave counting on 480M chart.
Wave of B may be treated as a downward wedge (refer to Figure 8 below), then supposed correction B may assume the shape of a simple zigzag. At the same time this zigzag may be just a constituent of wave B.
In the mid-term perspective wave B is expected to be completed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 8.
http://www.alpari-forex.com/files/0512/051216085056.gif
Figure 8 . Wave counting on 120M chart.
Wave is supposed to be assuming the shape of an impulse, for which completion wave (v) forming completion is required.
In the short-term plan impulse forming is expected to be completed. Uptrend is expected to begin. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
[*]FOREX forecast, 2005 (in Russian)[*]Possible Perspectives of the Main Currency Pairs According to EWA (in Russian)[*]Possible Variants of Correction Development until March, 2006 (in Russian)[*]“…“Imaginary Skewer”...[*]Key Levels, Which Open New Targets (in Russian)[*]Depth of the Current Retracement will specify further price movement (in Russian)[*]New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.[*]MONTHLY Wave Analysis, December, 2005[*]Wave Counting Marking (in Russian)[*]Wave analysis (in Russian)Dmitry Voznuy
forDmitry@yahoo.comDecember, 16, 2005The ideas given above are purely informational purpose only. This report was translated by Natalya.
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