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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 E1.
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Figure E1. Final daily chart of June forecast, 2007.
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For illustrative purposes schematic forecast of EUR movement a month ago is given in the chart.
Current variant of wave counting
For survey wave counting of EUR refer to Annual-07(2).
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Figure E2. Wave counting on the daily chart. Variant 3.
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According to variant 3 under consideration upward wave (B) forming is not completed yet, currently the second wave-link XX of (B) is forming. It is not clear yet which shape it will assume. Though it will hardly be a simple zigzag as the first supposed wave [w] or [a] of XX is a zigzag.
Supposedly, by the moment this article is released the last upward movement has formed quite a harmonious impulse (a) of [x]. If the supposition is confirmed, wave [x] may assume the shape of the zigzag.
Depending on the relative position of wave [x] of XX ending we can judge about the shape of the forming correction XX (either horizontal correction or double/triple zigzag, is given in grey).
Wave [w] of XX ending is the critical level before wave [x] of XX forming completes.
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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