In the article The Review of the Bigger Time-Frames (IV quarter of 2008) the most probable at the moment scenarios for the dollar currency pairs are considered.
1. EUR/USDFor survey wave counting of EUR refer to the article The Review of the Bigger Time-Frames (IV quarter of 2008). Refer to Figure 1 for the wave counting draft of this currency on the weekly chart.
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Figure 1. Wave counting on the weekly chart. Variant 3dz.
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In the framework of scenario 3dz the supposed wave-link [X] of the global upward double zigzag [W]-[X]-[Y], which can assume a downward zigzag shape or the shape of a horizontal correction, continues developing.
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Figure 2. Wave counting on the daily chart. Variant 3dz.
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Supposedly upward corrective wave B of (A) of downward zigzag A-B-C of (A) is developing.
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Figure 3. Wave counting on 480 min chart. Variant 3dz.
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It isn’t ruled out that wave B of (A) will assume the shape of upward double (or triple) zigzag [w]-[x]-[y] of B of (A).
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Figure 4. Wave counting on 120 min chart. Variant 3dz.
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If the supposition of double zigzag [w]-[x]-[y] of B of (A) is true the beginning of its ending wave (c) of [y] of B should be expected in the near future.
2. GBP/USDFor survey wave counting of GBP refer to the article The Review of the Bigger Time-Frames (IV quarter of 2008). Refer to Figure 5 for the wave counting draft of this currency on the weekly chart.
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Figure 5. Wave counting on the weekly chart. Variant 1.
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In the framework of scenario 1 the ending wave (E) of [X] of the global horizontal triangle [X], which can assume the shape of downward double zigzag W-X-Y of (E) of [X], continues developing.
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Figure 6. Wave counting on the daily chart. Variant 1.
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Supposedly upward corrective wave of Y of (E) of downward zigzag [a]--[c] of Y of (E) is developing.
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Figure 7. Wave counting on 480 min chart. Variant 1.
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It isn’t ruled out that wave of Y will assume the shape of upward double (or triple) zigzag (w)-(x)-(y) of of Y.
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Figure 8. Wave counting on 120 min chart. Variant 1.
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If the supposition of double zigzag (w)-(x)-(y) of of Y is true the beginning of its ending wave c of (y) of should be expected in the near term.
3. USD/JPYFor survey wave counting of JPY refer to the article The Review of the Bigger Time-Frames (IV quarter of 2008). Refer to Figure 9 for the wave counting draft of this currency on the weekly chart..
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Figure 9. Wave counting on the weekly chart. Variant 3dt.
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Supposedly in the framework of scenario 3-dt correction [2] of V of a large diagonal triangle V, which can assume the shape of ordinary zigzag (A)-(B)-(C) of [2] of V, continues developing.
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Figure 10. Wave counting on the daily chart. Variant 3dt.
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Probably, downward corrective wave (B) of [2] of upward zigzag (A)-(B)-(C) of [2], which can assume the shape of a triple zigzag, is developing.
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Figure 11. Wave counting on 480 min chart. Variant 3dt.
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It isn’t ruled out that wave (B) will assume the shape of downward triple zigzag W-X-Y-XX-Z of (B). But at the moment the supposed zigzag XX of (B) may be easily transformed into an upward wedge.
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Figure 12. Wave counting on 120 min chart. Variant 3dt.
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If the supposition of triple zigzag W-X-Y-XX-Z of (B) is true the beginning of its ending wave [c] of Z of (B) should be expected in the near future.
4. USD/CHFFor survey wave counting of CHF refer to the article The Review of the Bigger Time-Frames (IV quarter of 2008). Refer to Figure 13 for the wave counting draft of this currency on the weekly chart.
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Figure 13. Wave counting on the weekly chart. Variant 3dz.
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In the framework of scenario 3dz the supposed wave-link [X] of the global downward double zigzag [W]-[X]-[Y], which can assume upward zigzag shape or the shape of a horizontal correction, continues developing.
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Figure 14. Wave counting on the daily chart. Variant 3dz.
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Supposedly downward corrective wave of Y of (A) of upward double zigzag W-X-Y of (A) is developing.
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Figure 15. Wave counting on 480 min chart. Variant 3dz.
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It isn’t ruled out that wave of Y will assume the shape of downward double (or triple) zigzag (w)-(x)-(y) of of Y.
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Figure 16. Wave counting on 120 min chart. Variant 3dz.
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If the supposition of double zigzag (w)-(x)-(y) of of Y is true the beginning of its ending wave c of (y) of should be expected in the near future.
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
Probable Beginning of the Canadian Dollar’s Strengthening (USD/CAD) September 24, 2008 When using any part of the article for publication or analytical materials reference to the author and Alpari is obligatory.
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