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Introduction
It should be noted that there are no reasons to say that the trend against the dollar is completed. In summer several most probable scenarios, considered in Annual-07(2), came into the forefront by turns. Currently scenario v.3 is preferable for the European currencies and scenario v.2 for the yen, the reasons of it are given in article Let's Analyse Zigzag Construction.
Below in the charts I have marked the nearest possible targets of the pairs under consideration with the help of Wolfe waves. It should be noted that the price usually tends to the targets, projected with the help of Wolfe method, though it does not always reach it.
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Figure 1. Possible targets for EUR/USD.
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Figure 2. Possible targets for GBP/USD.
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Figure 3. Possible targets for USD/JPY.
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Figure 4. Possible targets for USD/CHF.
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Possible scenarios and targets according to Elliott's wave theory are given in the corresponding parts of this forecast.
Note
This report reveals the analyst opinion of the situation at the moment of its release. This report is subject to change, it will be reflected in daily analyses or in additional articles in Wave analysis.
It should be remembered that EWA forecasts show probable price movements.
Reference
Dmitry Voznuy
forDmitry@yahoo.com
September 30, 2007
When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.
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