The daily Wave Analysis for September, 17th, 2009.

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 franc remains within the limits of the forecast, continuing wave formation (c) of [v] of 5. One of possible variants of succession of events is put on the chart.



2. Currency pair EUR/USD.

The franc remains within the limits of the forecast, continuing wave formation (c) of [v] of 5. One of possible variants of succession of events is put on the chart.



3. Currency pair GBP/USD.

The wave (b) of [v] is presumably generated. That allows to assume formation of an impulse or a wave Diagonal Triangle () of [v]. However the situation is not so unequivocal - acknowledgement to it still is not present, and the cable not to hurry up upwards. So the alternative variant of development of a situation is quite possible also. (The alternative variant is put in drawing of the hour chart).



4. Currency pair USD/JPY.

The yen has broken again critical level, but at the same time proportions of prospective model are not broken also expectations remain former. The wave [b] of 2 of (C) is practically generated. If the assumption, truly shortly the intermediate term trend will be developed upwards as formation of an impulse or a wave Diagonal Triangle [c] of 2.



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.