ANALYSIS

W1

On the daily chart of the 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 continue to confirm the version of development of the second pattern of Double Combination into NeoWave Diametric pattern. Nevertheless, expectations of relatively fast development of Diametric (F) wave have not been confirmed, but symmetry of trend line pattern structure, marked on the chart, remains intact, and that may also be treated as a sign confirming actuality of the represented wave structure.

Evaluating ratio of standard patterns of Double Combination, we suggest a Waterfall Effect regarding amplitude of the second pattern to the first one of 0.61. Following the logic of Complex Correction, there are grounds suggesting that the second pattern should be at least close to 1.61 by the length of the first one. Hence, it is logical to anticipate termination of Diametric, however, not earlier than on Thursday.

Summarizing the abovementioned considerations, as earlier, we can assume planning of short-term buying positions, and in the event when multiple break of channel line of Double Combination takes place we can assume planning of long-term long positions with the targets above 1,425.

EUR/USD-MN1:

Work chart: