The daily Wave Analysis for November, 7th, 2011.

Notes

1. To date, Wave Analysis - is the most flexible, powerful and promising tool, which allows for all time intervals to predict the trends that lead to certain changes in the financial schedules

2. One of the properties of this tool is its lack of formalisation, on the basis of which, the opinion of the author of this forecast, made on the basis of the Wave Analysis, is always subjective.

3. Since the wave pattern is constantly changing, the forecast based on Wave Analysis reflects the opinion of the author at the time of publication of the forecast.

4. Wave Analysis is not a trading system. This is not a signal generator to enter into or exit from the transaction, thus inflicted on a schematic chart the direction of price movement should not be a trader guide to action for opening positions.

5. In the case of the formation of market conditions, which, according to the author can use to draw up a trading plan, the chart will be further specified levels confirm the scenario, the optimal levels of inputs and the abolition of the selected scenario.



1. Currency pair USD/CHF.



Presumably formation of the correctional wave (x) of (ii) proceeds. Probably, it becomes the Flat or the double (threefold) three after which terminations can be expected local growth of the price as the wave (y) of [ii].  

2. Currency pair EUR/USD.



Presumably, the correctional wave (b) of [ii] comes to the end. If the assumption is true, after its terminations it is possible to expect reduction of price as the impulse or the Diagonal Triangle (c) of [ii].

3. Currency pair GBP/USD.



Presumably, formation of the correctional wave (iv) of [i] proceeds. Probably, it becomes the Zigzag in which frameworks correction b of (iv) comes to the end. If the assumption is true, after its terminations it is possible to expect reduction of price as the impulse or the Diagonal Triangle with of (iv).

4. Currency pair USD/JPY.



While the situation remains without changes. Probably, formation of the new long-term ascending trend has begun. At the same time, (look the second picture) optimum looks the variant of terminations of development of the correctional wave 4 of (5) after which end it is possible to expect reduction of price as development of the Zigzag 5 of (5).   

Igor Pak.
Analyst of company Admiral Markets.
igor.pak@forextrade.ee

At any use of the analytical material taken from the site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for the dealing centre «Admiral Markets», the reference to the site of the company is obligatory.