The daily Wave Analysis for May, 12th, 2010.

Notes


1. The Wave Analysis it for today the most flexible, powerful and perspective tool which allows to predict tendencies which lead to certain changes on financial charts on all time pieces.
2. One of properties of this tool is its insufficient formalisation, proceeding from it the opinion of the author of the forecast made on the basis of the Wave Analysis always is subjective.
3. As the wave picture constantly varies, the forecast on the basis of the Wave Analysis reflects opinion of the author at the moment of the forecast publication.
4. The Wave Analysis is not trading system. It not the generator of signals on the conclusion or an exit from the transaction, therefore the schematical direction of movement of the price put on the chart should not be for the trader the guide to action on opening of positions.
5. In case of formation in the market of conditions which, according to the author it is possible to use for drawing up of the trading plan - on a chart levels of acknowledgement of the chosen scenario, optimum areas of an input and levels of cancellation of the chosen scenario will be specified in addition.


1. Currency pair USD/CHF.



The wave [v] an impulse 5 of (1) in which frameworks the wave (ii) of [v] is generated is presumably formed. If the assumption, truly it is possible to count on continuation of growth of pair as a wave (iii) of [v].

2. Currency pair EUR/USD.



The wave [v] an impulse 5 of (1) in which frameworks the wave (ii) of [v] is generated is presumably formed. If the assumption, truly it is possible to count on continuation of falling of pair as a wave (iii) of [v].

3. Currency pair GBP/USD.



The cable has shaken in an expected direction. During too time the price has close enough come nearer to the critical level which crossing can cancel the considered scenario. Probably, by the given moment, the wave ii of (v) of [c] was generated. And if the assumption, truly the pair will fall as impulse formation iii of (v) but if all the same critical level does not resist, the counting be reconsidered.

4. Currency pair USD/JPY.



While expectations have not changed. Probably wave B or 2 of (A) accepts more difficult form, it was rather than supposed earlier, and the wave [b] of B or 2 is at present generated. If the assumption, truly soon it is possible to count on intermediate term falling of pair as formation of an impulse C or 3 of (A).




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

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