ANALYSIS

W1

On the daily chart of a pair a version of marking of the alternative waves "{d} or {iv}" with basic cycle of optimization of market data in one week is presented.

The events of the previous week confirmed the main case of (x)-wave development as Contracting Non-Limiting Triangle with C-wave, as it was mentioned before, representing Flat Correction. Besides, considering dynamics of C-wave terminal segment development, formation of Elongated Flat with attainment of 1.47 with further fall below this level should then be seen.

On the other hand, though, the earlier considered alternative case of C-wave development as Terminal Impulsion remains less probable, it has not lost its credence yet, however, only for the Terminal with elongated third wave.

Nevertheless, the both cases favor rate decline with further bottoming out and following the main trend. However, this rise may appear to be more dynamic for the alternative case.

To conclude the above mentioned observations we recommend to plan long positions from lower levels close to 1.47 and below.

EUR/USD-W1:

Work chart: