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发表于 2009-4-13 06:39
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I am often asked about GBP/JPY, EUR/JPY. I still think that after extended correction price upward thrust should be awaited. Correction may continue till March, 2006.
Though according to the alternative scenario, upward movement may be finished in March, 2006.
In details, problems with these cross-rates will be described next year.
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:
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.

Figure 1. Wave counting on 480M chart.
Wave Х took the form of a simple zigzag. First waves of many-weeks uptrend are supposed to be forming. Wave [c] high is the critical level for this scenario.
In the mid-term plan uptrend is supposed to continue. 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.

Figure 2. Wave counting on 480M chart.
Wave Х took the form of a simple zigzag. First waves of many-weeks downtrend are supposed to be forming. Wave [c] high of the renewed counting is the critical level for this scenario.
In the mid-term plan downtrend is supposed to continue. 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.

Figure 3. Wave counting on 480M chart.
Wave Х took the form of a simple zigzag. First waves of many-weeks downtrend are supposed to be forming. Wave [c] high of the renewed counting is the critical level for this scenario.
In the mid-term plan downtrend is supposed to continue. 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.

Figure 4. Wave counting on 480M chart.
Wave Х took the form of a simple zigzag. First waves of many-weeks uptrend are supposed to be forming. Wave [c] high of the renewed counting is the critical level for this scenario.
In the mid-term perspective uptrend is expected to continue. Price movement schematic forecast and support/resistance levels are shown in the chart.
5. USD/CAD
Supposition that wave (B) was forming in the shape of a triple zigzag was confirmed (refer to Illustrated CAD (EWA of USD/CAD) (in Russian)). The nearest target (1.1443), defined in September (refer to CAD Himself (alternative USD/CAD), was tested (December low = 1.1425).

Figure 5. Wave counting on the daily chart.
Wave (C) of (expanded) flat is supposed to be forming. Its targets will be described later.
6. EUR/JPY
Though the first target was tested and the second one was almost reached, forecasted 20 figures may be still ahead ( Possible Trade of 20 Figures Length (in Russian)).

Figure 6. Wave counting on the weekly chart.
Extended correction is supposed to be assuming the shape of running triple three, that is the prior pattern in the many-months impulse (refer to New Wave Pattern and New Classification of Extended Corrections in the FOREX Market).
According to the alternative variant, running triple three may have been completed already and wave (5) may be forming in the shape of a diagonal triangle.
Robert Prechter has his own view at possible wave counting of this currency pair (refer to Figure 7 below). His team's counting may be found in the Internet.

Figure 7. Wave counting of Robert Prechter's team on the weekly chart.
Only one of these variants is correct. May be, it is Robert Prechter's one.
7. GBP/JPY
Though the first target was tested and the seconf one is almost reached, forecasted 25 figures may be still ahead ( Another 25+ figures are possible).

Figure 8. Wave counting on the weekly chart.
Wave [C] forming of the global horizontal triangle is almost completed. Current extended correction is supposed to be assuming the shape of expanding triangle, that is the prior pattern in zigzag А-В-С (refer to New Wave Pattern and New Classification of Extended Corrections in the FOREX Market.
According to the alternative scenario horizontal triangle may have been completed already and wave C may be forming in the shape of diagonal triangle.
Reference
December, 22, 2005 The ideas given above are purely informational purpose only. This report was translated by Natalya.
Do not reproduce without explicit permission of Alpari Ltd |
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