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- 2006-7-3
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发表于 2009-4-19 07:19
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Introduction
The described currency pairs formed a very interesting wave picture, especially EUR and CHF. In the charts of USDCHF and EURUSD corrective wave in the shape of supposed flat has not reached its basic levels to be considered a completed flat or extended flat.
At the same time with the minimum set of waves in these patterns price has reached the level where this correction may be considered to be a running flat signifying immediate beginning of a strong price movement against the dollar.
This supposition will be confirmed in case new trend will begin with an impulse rather than corrective wave pattern. Otherwise I expect corrective wave to continue its forming.
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, alternate variants and possible schematic price movements are given in:
1. USD/CHF
For CHF survey wave counting refer to Monthly Wave Analysis, August, 2006, Possible nearest perspectives of the main currency pairs (EWA). Refer to Figure 1 for the wave counting draft for this currency on 480 min chart.

Figure 1. Wave counting on 480 min chart.
First impulse of the final wave (c) of flat is almost completed. Its ending may be either the ending of the whole correction (this variant is given in grey color, running flat) or it may be the ending of the first sub-wave i of (c) of .
In the first case price should fall in the impulse mode, in the second case in the corrective mode. Both variants are equally probable.
In the mid-term perspective wave picture is supposed to become clearer, one of the variants is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 2.

Figure 2. Wave counting on 120 min chart.
Two possible variants are given in the chart. Nevertheless, expected price movement is downward.
In the short-term plan wave picture is supposed to become clearer, one of the variants is expected to be confirmed. 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, August, 2006, Possible nearest perspectives of the main currency pairs (EWA). Refer to Figure 3 for the wave counting draft of this currency on 480 min chart.

Figure 3. Wave counting on 480 min chart.
First impulse of the final wave (c) of flat is almost completed. Its ending may be either the ending of the whole correction (this variant is given in grey color, running flat) or it may be the ending of the first sub-wave i of (c) of .
In the first case price should rise in the impulse mode, in the second case in the corrective mode. Both variants are equally probable.
In the mid-term perspective wave picture is supposed to become clearer, one of the variants is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 4.

Figure 4. Wave counting on 120 min chart.
Two possible variants are given in the chart. Nevertheless, expected price movement is upward.
In the short-term plan wave picture is supposed to become clearer, one of the variants is expected to be confirmed. 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, August, 2006, Possible nearest perspectives of the main currency pairs (EWA). Refer to Figure 5 for the wave counting draft of this currency on 480 min chart.

Figure 5. Wave counting on 480 min chart.
Forming of downward corrective wave continues. Ending of the second wave-link X is the critical level. Alternate variant of wave counting is given in the upper part of the chart.
In the mid-term perspective wave picture is supposed to become clearer, one of the variants is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart. For more details refer to Figure 6.

Figure 6. Wave counting on 120 min chart.
Two possible variants are given in the chart.
In the short-term plan wave picture is supposed to become clearer, one of the variants is expected to be confirmed. 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, August, 2006, Possible nearest perspectives of the main currency pairs (EWA). Refer to Figure 7 for the wave counting draft of this currency on 480 min chart.

Figure 7. Wave counting on 480 min chart.
Forming of upward corrective wave continues. Ending of the second wave-link X is the critical level. Alternate variant is given in the upper part of the chart.
In the mid-term perspective wave picture is supposed to become clearer, one of the variants 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.

Figure 8. Wave counting on 120 min chart.
Two possible variants are given in the chart. Nevertheless, expected price movement is downward.
In the short-term plan wave picture is supposed to become clearer, one of the variants is expected to be confirmed. Price movement schematic forecast and support/resistance levels are shown in the chart.
Reference
August 24, 2006 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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