On the daily chart of the pair a version of marking of the second and last figure of Double Combination (of December 23, 2007) included into development of «{с} or {iii}» wave with basic cycle of optimization of market data in one week is presented.

The events of the previous week have confirmed the expectations concerning (4)-wave development of Trend Impulsion with a cross of guiding line drawn through the waves of (2) and (ii) degrees. Nevertheless we do not have the features of completion of the (4)th wave while for development of this wave we need more time than for (2)-wave that gives grounds to presume necessary minimal alternation for Trend Impulsions of (2) and (4) waves not by time but by structure.
Concerning the structure of (4)th wave of Impulsion because of presumptions about formation of Limiting Triangle or Flat Correction we may discuss the completion of correction first segment or (a)-wave and possible incompletion of (b)-wave. Hence on condition of correct marking the development of (c)-wave should be considerably dynamic with a break of trend line drawn through the end of (2)-wave and extreme ascending segment in development of (4)-wave of Impulsion.

Having resumed the above observations we have grounds to consider that the development of (4)-wave has not been completed yet. As before short-term buyers’ positions look very risky because of alternative variant of Elaborate Correction development in (D)-wave but with a confirmative rate rise above trend guiding line but not above the completion of Impulsion (iv)-wave of smaller degree the grounds for planning of short-term sells will be considerably serious.


Here You may also find current Technical and Fundamental Analyses

With respect,
analytic