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.
Prospective fears, concerning wave Extension [C] of y stated in the last report, have received, so to say the unpleasant basis. But, nevertheless, expectations have not changed. By the present moment the Double Zigzag which can be considered as a wave (b) of [iv] is completed. If the assumption is true, is quite possible that, will reach a local minimum and further intermediate term strengthening of US dollar as wave formation [b] of [iv] will follow.
2. Currency pair EUR/USD.
Prospective fears, concerning wave Extension [C] of y stated in the last report, have received, so to say the unpleasant basis. But, nevertheless, expectations have not changed. By the present moment the Double Zigzag which can be considered as a wave (b) of [iv] is completed. If the assumption, truly quite probably that, will reach a local maximum and further follows intermediate term strengthening of US dollar as wave formation [b] of [iv].
3. Currency pair GBP/USD.
Though critical level for the scenario offered in the last report is not overcome, it is obvious, that proportions of a prospective Flat correction [A] - [b] - [C] of [ii] have got extreme enough character. So there are enough bases for this purpose what to pass to an alternative variant. Probably, that the minimum generated on October, 13th is the wave termination (v) of [c] of A. And ascending movement not that other, as a formed wave (i) of [a] of B. In turn it is not excluded, that at present the wave (i) of [a] is already completed also necessity of correction (ii) of [a].
4. Currency pair USD/JPY.
As well as the correctional wave (b) of [ii] was supposed it has appeared as more difficult form, and deeper. Probably wave (b) is generated. If it so that is logical to expect impulse or Diagonal Triangle formation (c) of [ii].
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.
