The monthly Wave Analysis, for November, 2009.
Currency pair USD/CHF
The top generated or finishing formation can be a starting point for two actual scenarios which can be realised in November.
1. Within the limits of constantly considered scenario S3 Triangle wave formation (A) of [X] is presumably finished. If the assumption, truly in November the correctional structure - a wave (B) of [X] will develop. At present about its form with большей or smaller confidence to speak early. At the same time within the limits of scenario S3 Triangle EX it is not excluded that the wave (A) of [X] still will continue formation as realisation of waves [iv] and [v] of 5 of (A), and only after that growth of US dollar as a correctional wave (B) of [X] will begin.
2. The second not less interesting variant - S3 z does not contradict expected growth of US dollar, however if it is realised, scales of this growth will be more impressing. The idea of this scenario is not new, but at present deserves большего attention. Presumably a wave [X] of z only at a stage of formation and within the limits of its construction it is generated or finishes formation a Double Zigzag (B) of [X]. If the assumption, truly, shortly it is possible to expect impulse or Diagonal Triangle formation (C) of [Y].
Currency pair EUR/USD
The euro operates identically to the Swiss. The top generated or finishing formation can be a starting point for two actual scenarios which can be realised in November.
1. Within the limits of constantly considered scenario S3 Triangle wave formation (A) of [X] is presumably finished. If the assumption, truly in November the correctional structure - a wave (B) of [X] will develop. At present about its form with большей or smaller confidence to speak early. At the same time within the limits of scenario S3 Triangle EX it is not excluded that the wave (A) of [X] still will continue formation as realisation of waves [iv] and [v] of 5 of (A), and only after that growth of US dollar as a correctional wave (B) of [X] will begin.
2. Second not less interesting variant S3 z does not contradict expected growth of US dollar, however if it is realised, scales of this growth will be more impressing. The idea of this scenario is not new, but at present deserves большего attention. Presumably a wave [X] of z only at a stage of formation and within the limits of its construction it is generated or finishes formation a Double Zigzag (B) of [X]. If the assumption, truly, shortly it is possible to expect impulse or Diagonal Triangle formation (C) of [Y].
Currency pair GBP/USD
In October the cable moved according to the forecast. And while there are no reasons to change the considered scenario. Wave B of (B) is presumably formed. If the assumption, truly in November it is possible to expect the termination of formation of a wave [b] of B and growth of pair as formation of an impulse or a wave Diagonal Triangle [c] of B.
Currency pair USD/JPY
The yen also has justified expectations of October. In November wave formation () of [3] large Diagonal Triangles v will presumably proceed.
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.
