Introduction
1) The domination of the impulsive nature of the U.S. dollar’s decline was considered in the yesterda’s article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
2) On Tuesday a short-term trading forecast was published (refer to Daily-201107). Those who followed the recommendations may lock in a profit of approximately 250 pips in each of the three European pairs.
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Fig. v1. The final chart of USD/CHF.
As an example I give the final chart of USD/CHF (see part 3.8 of my book).
1. EUR/USDFor survey wave counting of EUR refer to the article The Impulsive Decline of the Dollar as One of the Possible Scenarios . Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
The upward impulse continues developing. Possible scenarios were considered in detailed in the article mentioned at the beginning of the forecast.
2. GBP/USDFor survey wave counting of GBP refer to the article The Impulsive Decline of the Dollar as One of the Possible Scenarios . Refer to Figure 2 for the wave counting draft of this currency on 120 min chart.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Corrective wave 4 may be forming. It is difficult to say so far what shape it will assume, but it isn’t excluded that a downward wedge is forming. The critical level for this sceanrio is the ending of the wave (ii) of the supposed wedge.
The possible scenarios were considered in detailed in the article mentioned at the beginning of the forecast.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 3 for the wave counting draft of this currency on 720 min chart.
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Figure 3. Wave counting on 720 min chart. Variant v.imp.1.
The downward wave (iii) of of C may be ending in accordance with the scenario considered in Monthly-1107.
4. USD/CHFFor survey wave counting of CHF refer to the article The Impulsive Decline of the Dollar as One of the Possible Scenarios . Refer to Figure 4 for the wave counting draft of this currency on 480 min chart.
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Figure 4. Wave counting on 480 min chart. Variant v.imp.1.
The downward impulse continues forming. The possible scenarios were considered in detailed in the article mentioned at the beginning of the forecast.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios [*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 23, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Recent domination of the impulsive character of USD fall was considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
1. EUR/USDFor survey wave counting of EUR refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave has started. Though the alternate scenario in the upper part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, price thrust after the triangle (wave v) has been completed. It is too early to speak about the nature and depth of the possible correction.
2. GBP/USDFor survey wave counting of GBP refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 is forming. It is difficult to say what shape it will assume. It may be either a double or triple zigzag. Though downward wedge may be forming as well (see the next chart).
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly correction of the downtrend is completed. If the supposition is correct downtrend will keep forming in the nearest future.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 5 for the wave counting draft of this currency on 720 min chart.
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Figure 5. Wave counting on 720 min chart. Variant v.imp.1.
Supposedly downward wave (iii) of of C is almost completed in accordance with the scenario, considered in Monthly-1107 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
4. USD/CHFFor survey wave counting of CHF refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 6 for the wave counting draft of this currency on 480 min chart.
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Figure 6. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave has started. Though the alternate scenario in the lower part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 7. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, price thrust after the skewed triangle (wave ) has been completed. It is too early to speak about the nature and depth of the possible correction.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 26, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Correction becomes urgent for the pairs under consideration. Its depth will specify further price behaviour. Recent domination of the impulsive character of USD fall was considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
1. EUR/USDFor survey wave counting of EUR refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave continues. Though the alternate scenario in the upper part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Initial waves of the downward or sideways correction are forming. Supposedly, wave is almost completed.
2. GBP/USDFor survey wave counting of GBP refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It is difficult to say what shape it will assume. It may be either a double or triple zigzag. Though downward wedge may be forming as well (see the next chart).
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly correction of the downtrend is completed. In this case price should not overcome its ending. If the supposition is correct downtrend will keep forming in the nearest future.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 5 for the wave counting draft of this currency on 720 min chart.
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Figure 5. Wave counting on 720 min chart. Variant v.imp.1.
Supposedly downward wave (iii) of of C is completed in accordance with the scenario, considered in Monthly-1107 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
4. USD/CHFFor survey wave counting of CHF refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 6 for the wave counting draft of this currency on 480 min chart.
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Figure 6. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave has started. Though the alternate scenario in the lower part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 7. Wave counting on 120 min chart. Variant v.imp.1.
Initial waves of the upward or sideways correction are forming. Supposedly, wave ii is almost completed.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 27, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
The depth of the forming correction will specify further price behaviour. Recent domination of the impulsive character of USD fall was considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
1. EUR/USDFor survey wave counting of EUR refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave continues. Though the alternate scenario in the upper part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Initial waves of the downward or sideways correction are forming. Supposedly, a sequence of waves 1-2, 1-2 is forming.
2. GBP/USDFor survey wave counting of GBP refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It is difficult to say what shape it will assume. It may be either a double or triple zigzag. Though downward wedge may be forming as well (see the next chart).
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Wave may be assuming the shape of the zigzag. If the supposition is correct downtrend will keep forming in the nearest future.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 5 for the wave counting draft of this currency on 720 min chart.
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Figure 5. Wave counting on 720 min chart. Variant v.imp.1.
Supposedly downward wave (iii) of of C is completed in accordance with the scenario, considered in Monthly-1107 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
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Figure 6. Wave counting on 120 min chart. Variant v.imp.1.
Up to the moment uptrend has formed a proportional zigzag. In the long run this knot may transform easily into an upward wedge or a sequence of waves 1-2, 1-2.
4. USD/CHFFor survey wave counting of CHF refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
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Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave continues. Though the alternate scenario in the lower part of the chart has not been annulled yet. The main difference between these variants is in the depth of the correction.
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Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
Initial waves of the upward or sideways correction are forming. Supposedly, a sequence of waves 1-2, 1-2 is forming.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 28, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
It seems that the worries, i.e. alternate scenarios, have been proved. That is why for those who followed my trading recommendations (see Daily-271107) and did not take profit yesterday it is better to close positions in favor of the dollar today. Recent domination of the impulsive character of USD fall was considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
1. EUR/USDFor survey wave counting of EUR refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Downward impulse did not manage to form. Instead of it we have a downward zigzag that may be either a part of supposed wave of iv or a whole wave iv.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Judging by the relative size of the formed zigzag its length and position inside the trend channel we may suppose that it is a part of supposed wave iv, its wave of iv.
2. GBP/USDFor survey wave counting of GBP refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It is difficult to say what shape it will assume. It may be either a double or triple zigzag.
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Wave may keep forming. It may be assuming the shape of the double (or triple) zigzag.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 5 for the wave counting draft of this currency on 720 min chart.
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Figure 5. Wave counting on 720 min chart. Variant v.imp.1.
Supposedly downward wave (iii) of of C is completed in accordance with the scenario, considered in Monthly-1107 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
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Figure 6. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, upward double zigzag has formed. It may be either a part of correction a of (iv) or a whole wave (iv).
4. USD/CHFFor survey wave counting of CHF refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
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Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Upward impulse did not manage to form. Instead of it we have an upward zigzag that may be either a part of supposed wave of iv or a whole wave iv.
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Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
Judging by the relative size of the formed zigzag its length and position inside the trend channel we may suppose that it is a part of supposed wave iv, its wave of iv.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 29, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
In this article adjusted variants of the wave counting are given. Recent domination of the impulsive character of USD fall was considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
1. EUR/USDFor survey wave counting of EUR refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming.
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant downward wedge (a) of is forming.
2. GBP/USDFor survey wave counting of GBP refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It may be assuming the shape of the double zigzag.
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, wave of 4 is completed, having assumed the shape of the double zigzag. Downward zigzag of 4 is forming.
3. USD/JPYFor survey wave counting of JPY refer to Annual-07(2) and Monthly-1107. Refer to Figure 5 for the wave counting draft of this currency on the daily chart.
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Figure 5. Wave counting on the daily chart. Variant v.imp.1.
Judging by the fact that the price is moving synchronously with the European currencies we may expect forming of the downward wave C of (B) in the shape of the diagonal triangle according to the scenario considered in Monthly-1107 and The Impulsive Decline of the Dollar as One of the Possible Scenarios.
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Figure 6. Wave counting on 480 min chart. Variant v.imp.1.
Unlike the European currencies the pattern of the supposed wave (a) of is not clear yet, though it may assume the shape of the impulse.
4. USD/CHFFor survey wave counting of CHF refer to The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
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Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming.
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Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
According to a marking variant upward impulse (a) of is forming.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for November 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comNovember 30, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Local trend in favor of the dollar is forming. Its possible perspectives for several following months were considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios and Monthly-1207.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
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Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 38% and it may reach 1.43 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
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Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of is forming in the shape of the downward wedge. If the supposition is correct after corrective wave (b) profitable price fall may be expected.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
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Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It may be assuming the shape of the double zigzag with a possible target around 2.03.
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Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of of 4 is forming in the shape of the downward impulse. If the supposition is correct after corrective wave (b) of profitable price fall may be expected.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.
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Figure 5. Wave counting on 480 min chart. Variant v.diag.1.
Judging by the fact that the price is moving synchronously with the European currencies we may expect forming of the downward diagonal triangle of JPY. Supposedly, its corrective wave keeps forming. It may be assuming the shape of the zigzag with a possible target around 114.
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Figure 6. Wave counting on 60 min chart. Variant v.diag.1.
According to a wave counting variant wave (a) of is forming in the shape of the upward impulse. If the supposition is correct after corrective wave (b) profitable price rise may be expected.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
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Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 50% and it may reach 1.16 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
http://www.alpari-forex.com/files/pic/docs/7/29033_6580.gif
Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of is forming in the shape of the upward impulse. If the supposition is correct after corrective wave (b) profitable price rise may be expected.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 3, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Local trend in favor of the dollar is forming. Its possible perspectives for several following months were considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios and Monthly-1207.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29042_6585.gif
Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 38% and it may reach 1.43 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
http://www.alpari-forex.com/files/pic/docs/7/29042_6586.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of has formed in the shape of the downward wedge. Its completion has not been confirmed yet, in the nearest future upward correction (b) is expected to form.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29042_6587.gif
Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It may be assuming the shape of the double zigzag with a possible target around 2.03.
http://www.alpari-forex.com/files/pic/docs/7/29042_6588.gif
Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of of 4 has formed in the shape of the downward impulse. If the supposition is correct after corrective wave (b) of profitable price fall may be expected.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29042_6589.gif
Figure 5. Wave counting on 480 min chart. Variant v.diag.1.
Supposedly, corrective wave of the downward diagonal triangle keeps forming. It may be assuming the shape of the zigzag with a possible target around 114.
http://www.alpari-forex.com/files/pic/docs/7/29042_6590.gif
Figure 6. Wave counting on 60 min chart. Variant v.diag.1.
According to a wave counting variant wave (a) of has formed in the shape of the upward impulse. If the supposition is correct after corrective wave (b) profitable price rise may be expected.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29042_6591.gif
Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 50% and it may reach 1.16 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
http://www.alpari-forex.com/files/pic/docs/7/29042_6592.gif
Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (a) of has formed in the shape of the upward impulse. Its completion is not confirmed yet, in the nearest future downward correction (b) is expected.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 4, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
1) USD strengthening is expected to continue. Possible perspectives of prices movement for several following months were considered in article The Impulsive Decline of the Dollar as One of the Possible Scenarios and Monthly-1207.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29056_6599.gif
Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 38% and it may reach 1.43 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
http://www.alpari-forex.com/files/pic/docs/7/29056_6600.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting variant wave (b) of is forming in the shape of the upward zigzag. At the same time this zigzag a-b-c may turn out to be just a part of correction (b).
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29056_6601.gif
Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave 4 keeps forming. It may be assuming the shape of the double zigzag with a possible target around 2.03.
http://www.alpari-forex.com/files/pic/docs/7/29056_6602.gif
Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
It is quite possible that corrective wave (b) of has completed in the shape of the truncated zigzag and the first downward wave i of (c) of — in the shape of the wedge. If the supposition is correct signs of possible profitable price fall are obvious (see pictures 2-20 and 3-42 in my book).
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29056_6603.gif
Figure 5. Wave counting on 480 min chart. Variant v.diag.1.
Supposedly, corrective wave of the downward diagonal triangle keeps forming. It may be assuming the shape of the zigzag with a possible target around 114.
http://www.alpari-forex.com/files/pic/docs/7/29056_6604.gif
Figure 6. Wave counting on 60 min chart. Variant v.diag.1.
According to a wave counting variant wave (b) of may be completed in the shape of the downward zigzag. At the same time this zigzag a-b-c may turn out to be just a part of correction (b).
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29056_6605.gif
Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
Supposedly, corrective wave keeps forming. Its projected depth may be around 50% and it may reach 1.16 mark, forming the so-called Elliott's double retracement (see Monthly-1207 and picture 2.8 Elliott’s Code: Wave Analysis of the FOREX Market).
http://www.alpari-forex.com/files/pic/docs/7/29056_6606.gif
Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
According to a wave counting marking wave (b) of may be almost completed in the shape of the downward zigzag. At the same time this zigzag a-b-c may turn out to be just a part of correction (b).
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 5, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
2) Those traders who opened position following yesterday's recommendations can take profit equal to more than 600 pips (see Daily-051207).
1. Current wave picture On the one hand the wave picture forming from the end of November in favor of the dollar is almost completed. According to a wave counting marking it may be the fourth impulse wave, that supposes that in the nearest future USD will start falling again. This variant is given in pictures 1..4 below. Confirmatory levels for this scenario are also given there.
Disadvantage of this variant is that EUR, CHF and JPY have not reached the expected levels. Though this fact may signal that USD weakening is highly probable.
According to the alternate variants in pictures 5..8 only the first sub-wave of the fourth corrective wave is completing, that is USD strengthening may continue. Critical levels for the alternate variant are given in the charts.
http://www.alpari-forex.com/files/pic/docs/7/29066_6612.gif
Figure 1. Wave counting on 480 min chart of EUR/USD. Variant v.imp.1.
http://www.alpari-forex.com/files/pic/docs/7/29066_6613.gif
Figure 2. Wave counting on 480 min chart of GBP/USD. Variant v.imp.1.
http://www.alpari-forex.com/files/pic/docs/7/29066_6614.gif
Figure 3. Wave counting on 480 min chart of USD/JPY. Variant v.imp.1.
http://www.alpari-forex.com/files/pic/docs/7/29066_6615.gif
Figure 4. Wave counting on 480 min chart of USD/CHF. Variant v.imp.1.
2. Possible alternate scenarios
http://www.alpari-forex.com/files/pic/docs/7/29066_6616.gif
http://www.alpari-forex.com/files/pic/docs/7/29066_6617.gif
http://www.alpari-forex.com/files/pic/docs/7/29066_6618.gif
http://www.alpari-forex.com/files/pic/docs/7/29066_6619.gif
It will be clear in the nearest future which variant the price will prefer.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 5, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
1) Yesterday two possible scenarios of possible price movement were considered (see Daily-061207). We should wait for the price to choose one of them.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29074_6623.gif
Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
The fourth wave may be completed. It worries me that the depth of the correction has not reached the expected levels. In this case the alternate variant in the upper part of the chart or supposition that only a part of correction has completed becomes urgent.
http://www.alpari-forex.com/files/pic/docs/7/29074_6624.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
It is not clear yet how upward movement will continue, either in the shape of the correction or another fall of USD. Those who want to catch the very beginning of a new trend may risk and open long positions.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29074_6625.gif
Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
The fourth wave 4 may be completed already.
http://www.alpari-forex.com/files/pic/docs/7/29074_6626.gif
Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
At the same time it is not clear yet how upward movement will continue, either in the shape of the correction or another USD fall. Those who want to catch the very beginning of a new trend may risk and open long positions.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29074_6627.gif
Figure 5. Wave counting on 480 min chart. Variant v.diag.1.
The fourth wave of the diagonal triangle may be completed. It worries me that the depth of the correction has not reached the expected levels. In this case the alternate variant in the upper part of the chart becomes urgent. It supposes that the completed wave construction is only a part of correction .
http://www.alpari-forex.com/files/pic/docs/7/29074_6628.gif
Figure 6. Wave counting on 60 min chart. Variant v.diag.1.
It is not clear yet how downward movement will continue, either in the shape of the correction or another fall of USD. Those who want to catch the very beginning of a new trend may risk and open short positions.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29074_6629.gif
Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
The fourth wave may be completed. It worries me that the depth of the correction has not reached the expected levels. In this case the alternate variant in the lower part of the chart or supposition that only a part of correction has completed becomes urgent.
http://www.alpari-forex.com/files/pic/docs/7/29074_6630.gif
Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
It is not clear yet how downward movement will continue, either in the shape of the correction or another fall of USD. Those who want to catch the very beginning of a new trend may risk and open short positions.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 7, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
IntroductionOn Friday price movement of the pairs under consideration was moderate and it did not make the wave picture clearer, that is why the variety of wave counting markings, considered in Daily-071207, remains valid.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29085_6636.gif
Figure 1. Wave counting on 120 min chart. Variant v.imp.1.
Price movement against the dollar remains preferable until the critical level is broken. At the same time the critical level breakout may be a good signal for short positions opening.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 2 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29085_6637.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Price movement against the dollar remains preferable until the critical level is broken. At the same time the critical level breakout may be a good signal for short positions opening.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29085_6638.gif
Figure 3. Wave counting on 120 min chart. Variant v.diag.1.
Price has not broken the upward trend channel of wave (с)?, though the fact that the impulse has formed almost a complete set of waves and its proportionality suppose that it will complete in the nearest future or an upward extension will form and the marking will be adjusted later.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 4 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29085_6639.gif
Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
Price movement against the dollar remains preferable until the critical level is broken. At the same time the critical level breakout may be a good signal for long positions opening.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 10, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
IntroductionThe wave picture is still multi-directional. Therefore those who have opened positions following my recommendations (see Daily-071207) should move the stop loss levels or close positions after the finishing price thrust with the total profit about ~500 pips.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29112_6673.gif
Figure 1. Wave counting on 480 min chart. Variant v.imp.1.
As the fourth wave has not reached the expected levels (1.43) it may keep forming in the shape of the downward zigzag.
http://www.alpari-forex.com/files/pic/docs/7/29112_6674.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
If the supposition is correct once corrective wave (b) completes a profitable price fall may be in store for us.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29112_6675.gif
Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
Downward correction may be understood differently, it is not clear yet whether wave 4 is finished or not.
http://www.alpari-forex.com/files/pic/docs/7/29112_6676.gif
Figure 4. Wave counting on 120 min chart. Variant v.imp.1.
At the same time the nearest expected price movement is upward as after a horizontal triangle usually there is a final price thrust approximately at the triangle height.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29112_6677.gif
Figure 5. Wave counting on 480 min chart. Variant v.diag.1.
Supposedly the fourth wave of the diagonal triangle is almost completed.
http://www.alpari-forex.com/files/pic/docs/7/29112_6678.gif
Figure 6. Wave counting on 120 min chart. Variant v.diag.1.
If the supposition is correct after the skewed triangle iv of (c) of final price thrust upwards should be expected at approximately the triangle height.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29112_6679.gif
Figure 7. Wave counting on 480 min chart. Variant v.imp.1.
As the fourth wave has not reached the expected levels (1.16) it may keep forming in the shape of the upward zigzag.
http://www.alpari-forex.com/files/pic/docs/7/29112_6680.gif
Figure 8. Wave counting on 120 min chart. Variant v.imp.1.
If the supposition is correct once corrective wave (b) completes a profitable price rise may be in store for us.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 11, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
IntroductionThe wave picture of the pairs under consideration is still multi-directional. Participants of the Forex market may be still under the effect of the fact that the Fed has cut the interest rates by 0.25%.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29126_6710.gif
Figure 1. Wave counting on 120 min chart. Variant v.imp.1.
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29126_6711.gif
Figure 2. Wave counting on 120 min chart. Variant v.imp.1.
Wave may be completed. If the supposition is correct downward zigzag should be expected to form.
http://www.alpari-forex.com/files/pic/docs/7/29126_6712.gif
Figure 3. Wave counting on 15 min chart.
Yesterday I mentioned the final price thrust after continuous horizontal corrections and recommended to use this thrust (see Daily-111207 and part 3.8 of my book). GBP wave of c thrust has confirmed it.
3. 3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 4 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29126_6713.gif
Figure 4. Wave counting on 120 min chart. Variant v.diag.1.
Wave may be completed. If the supposition is correct downward zigzag should be expected to form.
http://www.alpari-forex.com/files/pic/docs/7/29126_6714.gif
Figure 5. Wave counting on 20 min chart.
Yesterday I mentioned the final price thrust after continuous horizontal corrections and recommended to use this thrust (see Daily-111207 and part 3.8 of my book).
Note that after the skewed triangle JPY has formed the final thrust in the shape of the diagonal triangle of v. This is quite a rare combination of patterns. Though even in this case the price has covered the distance approximately equal to the height of the skewed triangle.
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 6 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29126_6715.gif
Figure 6. Wave counting on 120 min chart. Variant v.imp.1.
Taking into account the facts the the wave construction is not completed and correction (b) is not deep it is quite reasonable to assume that it is not completed yet.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 12, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Judging by the wave picture on smaller time-frames mid-term USD strengthening of the pairs under consideration is not completed. At the moment this local trend is correcting.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29141_6740.gif
Figure 1. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly a tricky wave (b) is assuming the shape of the double zigzag.
http://www.alpari-forex.com/files/pic/docs/7/29141_6741.gif
Figure 2. Wave counting on 480 min chart. Variant v.imp.1.
If the supposition is correct once wave (b) of is completed a profitable price fall should be expected as correction may reach the expected boundaries (1.43).
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29141_6742.gif
Figure 3. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, the second wave-link keeps forming assuming the shape of the triple zigzag.
http://www.alpari-forex.com/files/pic/docs/7/29141_6743.gif
Figure 4. Wave counting on 480 min chart. Variant v.imp.1.
If the supposition is correct once wave of 4 is completed a profitable price fall in the shape of the zigzag of 4 should be expected.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29141_6744.gif
Figure 5. Wave counting on 120 min chart. Variant v.diag.1.
In spite of price rise higher than the beginning of the supposed impulse a of (x) it is quite logic to suppose correction (x) forming and expect it to complete in the shape of the impulse or a diagonal triangle с of (x).
http://www.alpari-forex.com/files/pic/docs/7/29141_6745.gif
Figure 6. Wave counting on 480 min chart. Variant v.diag.1.
If the supposition is correct once wave (x) of is completed a profitable price rise should be expected as correction may reach the expected levels (114).
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 7 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29141_6746.gif
Figure 7. Wave counting on 120 min chart. Variant v.imp.1.
Supposedly, wave (b) is assuming the shape of the flat or double three.
http://www.alpari-forex.com/files/pic/docs/7/29141_6747.gif
Figure 8. Wave counting on 480 min chart. Variant v.imp.1.
If the supposition is correct once wave (b) of is completed a profitable price rise should be expected as correction may reach the expected boundaries (1.16).
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyse Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 13, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
1) Everything has been developing so far in accordance with the monthly forecast (refer to Monthly-1207). But a new wave of the USD decline may start as early as next week.
2) At that I say good bye to you and leave on vacation till the end of the year.
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 1 for the wave counting draft of this currency on 120 min chart..
http://www.alpari-forex.com/files/pic/docs/7/29156_6778.gif
Figure 1. Wave counting on 120 min chart. Variant v.imp.1.
I proved to be right when I mentioned yesterday the trickiness of wave (b) — it completed a little earlier than expected, having confirmed once again my words.
http://www.alpari-forex.com/files/pic/docs/7/29156_6779.gif
Figure 2. Wave counting on 480 min chart. Variant v.imp.1.
The started price fall may prove to be profitable and reach the expected level (1.43). However there remains quite a real variant, when the current downward impulse may prove to be not wave i of (c) of , but the ending for the whole correction impulse (c) of .
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29156_6780.gif
Figure 3. Wave counting on 480 min chart. Variant v.imp.1.
In this picture two almost equally possible variants are shown, each of them has its own advantages and disadvantages.
But judging by the correlation of waves inside the patterns the scenario with a new wave of the USD decline started in December has some advantage over the other variant (it is grey on the chart).
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 4 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29156_6781.gif
Figure 4. Wave counting on 480 min chart. Variant v.diag.1.
Price is moving towards the expected target (114.00). But the variant of a near-term completion of zigzag construction is possible (it is grey on the chart).
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and in article The Impulsive Decline of the Dollar as One of the Possible Scenarios. Refer to Figure 5 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/7/29156_6782.gif
Figure 5. Wave counting on 120 min chart. Variant v.imp.1.
The trickiness of wave (b) was confirmed this time as well. Instead of a full fledged correction a running pattern formed, underlining the strength of the upward trend.
http://www.alpari-forex.com/files/pic/docs/7/29156_6783.gif
Figure 6. Wave counting on 480 min chart. Variant v.imp.1.
The started price surge may prove to be profitable and reach the expected level s (1.16). However there remains quite a real variant, when the current upward impulse may prove to be not wave i of (c) of , but the ending for the whole correction impulse (c) of .
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyze Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 14, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.
forDmitry@yahoo.com
Introduction
Under present circumstances my wave forecasts won’t be released in January 2008.
Brief account
December price movement of the currencies under consideration supposed in Monthly-1207 confirmed in full. Especially it refers to the so called Elliott’s double retracement (see pictures 1 and 4 below, and picture 2-8 in my book).
For illustrative purposes schematic forecast of the price movement a month ago is given in the pictures 1..4.
Besides, from the current wave counting the most probable supposed price movement at the beginning of the year 2008 is broadly clear..
1. EUR/USDFor survey wave counting of EUR refer to Monthly-1207 and the article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
http://www.alpari-forex.com/files/pic/docs/7/29298_6940.gif
Figure 1. Final daily chart of EUR/USD forecast for December, 2007.
The price movement remained exactly within the forecast and formed an ordinary zigzag (or (a) of ), while the trend reversal took place exactly in the range of the expected mark 1.43 (refer to Monthly-1207).
2. GBP/USDFor survey wave counting of GBP refer to Monthly-1207 and the article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
http://www.alpari-forex.com/files/pic/docs/7/29298_6941.gif
Figure 2. Final daily chart of GBP/USD forecast for December, 2007.
The price movement remained within the forecast (refer to Monthly-1207). Supposedly the ending of wave 4 or its first subwave of 4 has formed.
3. USD/JPYFor survey wave counting of JPY refer to Monthly-1207 and the article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
http://www.alpari-forex.com/files/pic/docs/7/29298_6942.gif
Figure 3. Final daily chart of USD/JPY forecast for December, 2007.
The price movement remained exactly within the forecast and formed an impetuous zigzag (or (a) of ), while the downward reversal of the trend took place in the range of the expected mark 114 (refer to Monthly-1207).
4. USD/CHFFor survey wave counting of CHF refer to Monthly-1207 and the article The Impulsive Decline of the Dollar as One of the Possible Scenarios.
http://www.alpari-forex.com/files/pic/docs/7/29298_6943.gif
Figure 4. Final daily chart of USD/CHF forecast for December, 2007.
The price movement remained within the forecast and formed an ordinary zigzag (or (a) of ), while the downward trend reversal took place exactly in the range of the expected mark 1.16 (refer to Monthly-1207).
Reference:
[*]Imaginary Skewer [*]Check point. USD fall may continue till May 2007[*]Never-ending Ascension (EUR/JPY)[*]Nearest Projections of GBP/JPY [*]CAD Possible Weakening till the Mid of 2009 (USD/CAD) [*]Alternate but Real Weakening of the Dollar till the End of the Summer (or the End of 2007)[*]EUR/JPY, GBP/JPY[*]Let's Analyze Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]FOREX Forecast for 2007[*]FOREX Forecast for the 2nd Half of 2007[*]Wave Analysis for December 2007[*]Wave analysis [*]Elliott’s Code: Wave Analysis of the FOREX Market [*]Wave Counting Marking [*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA Forecasts
Dmitry Voznuy
forDmitry@yahoo.comDecember 29, 2007 When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Supposedly all the currency pairs under consideration enter temporarily the corrective phase of movement.
1. EUR/USDFor survey wave counting of EUR refer to Annual-08 and Monthly-0108. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29483_7224.gif
Firgure 1. Wave counting on 480 min chart. Variant 1.
The forming corrective wave may assume the shape of a downward zigzag.
2. GBP/USDFor survey wave counting of GBP refer to Annual -08 and Monthly -0108. Refer to Figure 2 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29483_7225.gif
Firgure 2. Wave counting on 480 min chart. Variant 1.
The corrective wave is expected to start forming in the near term.
3. USD/JPYFor survey wave counting of JPY refer to Annual -08 and Monthly -0108. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29483_7226.gif
Firgure 3. Wave counting on 480 min chart. Variant 1.
By now there is no confirmation of the completion of the diagonal triangle, while the price decline of motive mode doesn't rule out a bit different variant of scenario for this diagonal triangle (refer to the Figure below).
http://www.alpari-forex.com/files/pic/docs/8/29483_7227.gif
Firgure 4. Wave counting on the daily chart. Variant 1-2.
Such a scenario allows to explain the last decline of the price of motive mode and seems to be more synchronous with the movements of EUR and CHF.
4. USD/CHFFor survey wave counting of CHF refer to Annual -08 and Monthly-0108. Refer to Figure 5 for the wave counting draft of this currency on 480 min chart..
http://www.alpari-forex.com/files/pic/docs/8/29483_7228.gif
Firgure 5. Wave counting on 480 min chart. Variant 1.
Corrective wave which is forming now may assume the shape of an upward zigzag.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference
[*]The review of the bigger Time-Frames (Annual Wave Analysis, 2008)[*]EUR/USD (Annual, 2008)[*]GBP/USD (Annual, 2008)[*]USD/CHF (Annual, 2008)[*]USD/JPY (Annual, 2008)[*]Monthly Wave Analysis, January, 2008[*]EUR/USD, (Monthly Wave Analysis, January, 2008) [*]GBP/USD, (Monthly Wave Analysis, January, 2008)[*]USD/JPY, (Monthly Wave Analysis, January, 2008)[*]USD/CHF, (Monthly Wave Analysis, January, 2008)[*]Imaginary Skewer[*]Let's Analyze Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]Possible Trade with an Excellent Profit/Risk Ratio[*]Wave analysis[*]Elliott’s Code: Wave Analysis of the FOREX Market[*]Wave Counting Marking[*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA ForecastsDmitry Voznuy
forDmitry@yahoo.comJanuary 21, 2008When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.
Introduction
Currently the European currencies and the Japanese yen are moving mixed, but from the point of view of the wave picture a local correction in all the currencies under consideration should start in the near term.
1. EUR/USDFor survey wave counting of EUR refer to Annual-08 and Monthly-0108. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29485_7236.gif
Figure 1. Wave counting on 480 min chart. Variant 1.
Supposedly the impulse (a) of completes forming. The correction itself may assume the shape of a downward zigzag.
http://www.alpari-forex.com/files/pic/docs/8/29485_7237.gif
Figure 2. Wave counting on 120 min chart. Variant 1.
A rather proportional downward impulse (a) has formed. After its completion one should expect upward correction (b) to develop to the 1.47 mark.
2. GBP/USDFor survey wave counting of GBP refer to Annual -08 and Monthly -0108. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart..
http://www.alpari-forex.com/files/pic/docs/8/29485_7238.gif
Figure 3. Wave counting on 480 min chart. Variant 1.
Supposedly downward impulse completes forming. In the near term corrective wave is expected to develop.
http://www.alpari-forex.com/files/pic/docs/8/29485_7239.gif
Figure 4. Wave counting on 120 min chart. Variant 1.
After the completion of wave upward correction should be expected. It isn’t known so far what shape and size it will assume, but it is logical to expect its completion between levels 1.98-2.01.
3. USD/JPYFor survey wave counting of JPY refer to Annual -08 and Monthly -0108. Refer to Figure 5 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29485_7240.gif
Figure 5. Wave counting on 120 min chart. Variant 1-2.
Currently the price has built up a downward zigzag to an impulse, having added a pair of waves (iv и v). If possible price decline fails to transform this downward movement into a double or triple zigzag, i.e. into a corrective structure, then scenario 1-2, considered yesterday (see also the Figure below) and scenario 3, considered in Annual-08 (see also Figure 7, below) seem to be the most probable.
http://www.alpari-forex.com/files/pic/docs/8/29485_7241.gif
Figure 6. Wave counting on the daily chart. Variant 1-2.
Quite an acceptable variant in the context of scenario 1 is shown in this Figure. If the ending of wave doesn’t descend below the 105.39 mark, the third wave will appear to be shorter than wave , and therefore it will be much more easier in future to project the ending of wave .
But even in this case the near term expectation of the further price movement remain the same— up to the marks 112-114.
http://www.alpari-forex.com/files/pic/docs/8/29485_7242.gif
Figure 7. Wave counting on the daily chart. Variant 3.
If scenario 3 is confirmed it may change dramatically the long term expectations in all the dollar pairs.
But even in this case the short term expectations of the further price movement remain directed upward to the marks 112-114, while the critical level remains equal to 103.91 (considered in the article Possible Trade with an Excellent Profit/Risk Ratio).
4. USD/CHFFor survey wave counting of CHF refer to Annual -08 and Monthly -0108. Refer to Figure 8 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29485_7243.gif
Figure 8. Wave counting on 480 min chart. Variant 1.
Supposedly impulse (a) of completes forming. Correction itself may assume the shape of an upward zigzag.
http://www.alpari-forex.com/files/pic/docs/8/29485_7244.gif
An upward impulse (a) has formed. After its completion a downward correction (b) is expected to develop below the 1.1 mark.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference
[*]The review of the bigger Time-Frames (Annual Wave Analysis, 2008)[*]EUR/USD (Annual, 2008)[*]GBP/USD (Annual, 2008)[*]USD/CHF (Annual, 2008)[*]USD/JPY (Annual, 2008)[*]Monthly Wave Analysis, January, 2008[*]EUR/USD, (Monthly Wave Analysis, January, 2008) [*]GBP/USD, (Monthly Wave Analysis, January, 2008)[*]USD/JPY, (Monthly Wave Analysis, January, 2008)[*]USD/CHF, (Monthly Wave Analysis, January, 2008)[*]Imaginary Skewer[*]Let's Analyze Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]Possible Trade with an Excellent Profit/Risk Ratio[*]Wave analysis[*]Elliott’s Code: Wave Analysis of the FOREX Market[*]Wave Counting Marking[*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA ForecastsDmitry Voznuy
forDmitry@yahoo.comJanuary 22, 2008When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory
Introduction
Currently the European currencies and the Japanese yen are moving mixed, but from the point of view of the wave picture a local correction in all the currencies under consideration should start in the near term.
1. EUR/USDFor survey wave counting of EUR refer to Annual-08 and Monthly-0108. Refer to Figure 1 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29495_7259.gif
Figure 1. Wave counting on 480 min chart. Variant 1.
A sharp decline gave way to the price surge. Wave (b) of may be forming. Correction itself may assume the shape of a downward zigzag.
http://www.alpari-forex.com/files/pic/docs/8/29495_7260.gif
Figure 2. Wave counting on 120 min chart. Variant 1.
Yesterday’s expectations proved true, and traders, who followed the recommendations, could lock in profit of more than 200 pips (refer to Daily-220108).
Supposedly correction (b) continues to form.
Please note how the fourth wave iv divided the whole impulse (a) into two equal (proportional) parts (refer to Note at page 158 and picture 4-26 of my book).
2. GBP/USDFor survey wave counting of GBP refer to Annual -08 and Monthly -0108. Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29495_7261.gif
Figure 3. Wave counting on 480 min chart. Variant 1.
Supposedly a corrective wave , which may take on the shape of an upward zigzag, is forming.
http://www.alpari-forex.com/files/pic/docs/8/29495_7262.gif
Figure 4. Wave counting on 120 min chart. Variant 1.
Yesterday’s expectations proved true and traders who followed the recommendations could lock in profit of more than 200 pips (refer to Daily-220108).
Correction may continue to form.
3. USD/JPYFor survey wave counting of JPY refer to Annual -08 and Monthly -0108. Refer to Figure 5 for the wave counting draft of this currency on 120 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29495_7263.gif
Figure 5. Wave counting on 120 min chart. Variant 1-2.
Yesterday the price built up a downward zigzag to an impulse, having added a pair of waves (iv и v), which corresponds to the considered scenario 1-2 or 3. But if possible price decline fails to transform this downward movement into a double or triple zigzag, i.e. into a corrective structure a return to scenario 1 is possible.
4. Валютная пара USD/CHFFor survey wave counting of CHF refer to Annual -08 and Monthly -0108. Refer to Figure 6 for the wave counting draft of this currency on 480 min chart.
http://www.alpari-forex.com/files/pic/docs/8/29495_7264.gif
Figure 6. Wave counting on 480 min chart. Variant 1.
The rise of price gave way to a sharp decline. Wave (b) of might be forming. Correction itself may assume the shape of a downward zigzag.
http://www.alpari-forex.com/files/pic/docs/8/29495_7265.gif
Figure 7. Wave counting on 120 min chart. Variant 1.
Yesterday’s expectations proved true (refer to Daily-220108). Correction (b) might continue its forming.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference
[*]The review of the bigger Time-Frames (Annual Wave Analysis, 2008)[*]EUR/USD (Annual, 2008)[*]GBP/USD (Annual, 2008)[*]USD/CHF (Annual, 2008)[*]USD/JPY (Annual, 2008)[*]Monthly Wave Analysis, January, 2008[*]EUR/USD, (Monthly Wave Analysis, January, 2008) [*]GBP/USD, (Monthly Wave Analysis, January, 2008)[*]USD/JPY, (Monthly Wave Analysis, January, 2008)[*]USD/CHF, (Monthly Wave Analysis, January, 2008)[*]Imaginary Skewer[*]Let's Analyze Zigzag Wave Construction[*]The Impulsive Decline of the Dollar as One of the Possible Scenarios[*]Possible Trade with an Excellent Profit/Risk Ratio[*]Wave analysis[*]Elliott’s Code: Wave Analysis of the FOREX Market[*]Wave Counting Marking[*]Methods of Price Movement Projection (EWA)[*]How to Apply EWA ForecastsDmitry Voznuy
forDmitry@yahoo.comJanuary 23, 2008When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.