ANALYSIS

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WAVE ANALYSIS

W1

At the D1 chart of the pair a variant of marking of the second and last figure of Double Combination (from December 23, 2007) within wave development with uncertain structure of higher degree as «{ñ} or {iii}» with a basic cycle in one week of market data optimization is presented.

The events of previous week with considerably strong dynamics of rate fall below Low of the week before last one can be a good ground to presume a completion of NeoWave Neutral Triangle with [C]-wave. But these are only presumptions because on the analyzed chart with one week of data optimization we did not have any confirmations of this wave’s completion with an attainment of [e]-wave beginning for less time that it needs for its formation.

On the other hand the results of charts’ analysis with a day of data optimization is still not simple for sure figure’s identification of [e]-wave of Neutral Triangle. Moreover taking into account figure’s features for Triangle’s formation it is natural to consider possible incompletion of [e]-wave that can become Triangle, Non-Limiting Contracting Triangle or Triangle of NeoWave figures. For this we need additional confirmation of resumption of previous week fall above 61.8% that is above 1.5640 or even above 1.5680.

Taking into note that now to ground charts’ marking with one day of data optimization we need additional events with characteristics of rate correction it will be sent to subscribers’ trading terminals in midweek.

Having resumed the above observations I think that the planning of short operations should be delayed till receiving the confirmation of [e]-wave completion on the chart with one week of data optimization.

EURUSD/W1:

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