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Introduction
Price movement, supposed in Monthly-0607 formed in accordance with the forecast in the first half of the month. Though the fact that the dollar kept falling made me adjust possible scenarios for the 2nd half of 2007 (see Annual-07(2)). The result is given in Figure C1.
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Figure C1. Final daily chart of June forecast, 2007.
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For illustrative purposes schematic forecast of CHF movement a month ago is given in the chart.
Current variant of wave counting
For survey wave counting of CHF refer to Annual-07(2).
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Figure C2. Wave counting on the daily chart. Variant 3.
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According to variant 3 under consideration downward wave (B) forming is not completed yet, currently wave-link [x] is forming. It is assuming the shape of the horizontal triangle (or triple three).
Supposedly, by the moment this article is released the last downward movement has formed quite a harmonious impulse a of (d) of [x]. If the supposition is confirmed, wave (d) may assume the shape of the zigzag. If proportions of the main waves of the triangle are preserved, wave (d) of [x] ending may be expected around 1.21.
Wave (c) of [x] ending (for the horizontal triangle also (b) of [x] ending) is the critical level before wave (d) of [x] is completed.
For more detailed wave counting on smaller time-frames and parameters of possible trading plans refer to daily reports.
Reference
Dmitry Voznuy
forDmitry@yahoo.com
July 1, 2007
When using any part of the article for publication or analytical materials reference to the author and Alpari Ltd. is obligatory.
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