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Introduction
In Annual-07 the first significant check point of 2007 on March 17 was indicated on the charts. Taking into account the fault of the key pulse points method on the weekly time-frame the price is just above it. That is why we will present the intermediate results and consider possible scenarios of further movement of the main currencies.
1. EUR/USD
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Figure 1. Wave counting on the weekly chart. The main variant.
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According to the main variant the final zigzag [y] of Y should form by June 2007 (the next significant check point). Wave [x] of Y ending is the critical level.
At the same time the upward part of the chart from the end of 2005 supposes several variants of wave counting marking inclusive of the shape of the forming impulse (with some restrains). This gives grounds for an absolutely new interpretation of this pair movement within the last several years. Some of them were considered earlier, one variant was even published in my book (see picture 5-2), though it is not necessary to describe them now.
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Figure 2. Wave counting on the weekly chart. The alternate variant.
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According to the alternate scenario in the nearest future the reversal high may form, change of the long-term trend in favor of the dollar is also probable. In this case the ending of the corrective wave [b] or 2 may form above the next key point.
2. GBP/USD
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Figure 3. Wave counting on the weekly chart. The main variant.
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According to the main variant the final zigzag Z should form by June 2007 (the next significant check point). Wave XX of (B) or (X) ending is the critical level.
At the same time the upward part of the chart from the end of 2005 supposes several variants of wave counting marking inclusive of the shape of the forming impulse (with some restrains). This gives grounds for an absolutely new interpretation of this pair movement within the last several years. It is not necessary to describe them now.
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Figure 4. Wave counting on the weekly chart. The alternate variant.
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According to the alternate scenario in the nearest future the reversal high may form. In this case the ending of the corrective wave [b] or 2 may form above the next key point.
3. USD/JPY
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Figure 5. Wave counting on the weekly chart. The main variant.
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According to the main variant supposed wave (B) is forming in the shape of the (extended) flat. Its ending may be expected by the end of June 2007. Wave B of (B) ending is the critical level.
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Figure 6. Wave counting on the weekly chart. The alternate variant.
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According to the alternate scenario the final wave (C) of the upward zigzag [E] is forming in the shape of the diagonal triangle. Wave (B) of [E] ending is the critical level.
4. USD/CHF
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Figure 7. Wave counting on the weekly chart. The main variant.
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According to the main variant the final zigzag [y] of Y should form by June 2007 (the next significant check point). Wave [x] of Y ending is the critical level.
At the same time the downward part of the chart from the end of 2005 supposes several variants of wave counting marking inclusive of the shape of the forming impulse (with some restrains). This gives grounds for an absolutely new interpretation of this pair movement within the last several years. It is not necessary to describe them now.
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Figure 8. Wave counting on the weekly chart. The alternate variant.
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According to the alternate scenario in the nearest future the reversal high may form, change of the long-term trend in favor of the dollar is also probable. In this case the ending of the corrective wave [b] or 2 may form above the next key point.
Note
Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.
Reference:
Dmitry Voznuy
forDmitry@yahoo.com
March 22, 2007
Do not reproduce without explicit permission of Alpari IDC Corp.
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