On the daily chart of the pair a version of marking of the second and last figure of Double Combination (of December 23, 3007) included into development of «{с} or {iii}» wave with basic cycle of optimization of market data in one week is presented.

The revised version of NeoWave Diametric Formation in previous express-review for July 02, 2008 preserves its actuality for the current week. At present in spite of considerably strong dynamics of rate fall from July 03. 2008 after attainment of line drawn through [c] and [e] segments of Diametric I cannot assume the completion of this figure.
In express-review I has marked that Diametric refers to figures which are very difficult for early revelation and further forecasting. Hence till Diametric is not completed we do not have clearness in its structure so we can presume a lot of variants with further revision of its segments.
So taking into account the fact that Triple Combination can be a possible structure of [g]-wave I have made a conclusion that [g]-wave cannot be the smallest wave by amplitude for whole Diametric. But considering that possible formation of Triple Combination for [g]-wave after dynamic fall in the second half of the week offsets this variant of development another variant of wave’s structure is uncertain and moreover there are some negative features that give ground to note the beginning of bearish trend with the beginning of [D]-wave development.
First moment concerns the duration of [g]-wave. Taking into account the logic of figure’s development the initial time reduction for formation of composing segments of Diametric with their further growth should not leave uncertainty in the fact that [g]-wave is more durable than [c]-wave. Evaluating the dynamics of fall after presumed completion of [g]-wave it is necessary to mark that with formation of Diametric dynamics of price change was quite strong. Hence because of lack of full confirmative moments of Diametric’s completion the indirect features are still not positive.

At present having resumed the above observations there are no convincing arguments concerning completion or incompletion of Diametric. Hence because of unclear situation it is more logical and safe to plan long-term short positions due to incompletion of Diametric and attainment of new maximum or the attempt of its attainment. On the other part if the initial level m31 is attained within current week we can confirm the beginning of [D]-wave development with far reaching targets.


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With respect,
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