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 last week have exactly played according to the “scenario”of NeoWave Diametric pattern formation within the borders of trend lines and at the moment there is nothing to add to the information given in the previous analysis.

The situation on the chart with daily period of data optimization confirms the logic of pattern formation. (e)-wave in the current development looks uncompleted as in the Double Combination the last pattern is supposed to be after X-wave according to Triangle type or Flat Correction. However, in the context of the formation of the Diametric pattern of greater degree, the Triangle looks improbable because in this case it is logical to have (f)-wave not less than 61,8% of (e)-wave, that, in the first turn tricks ideality of Diametric symmetry, though it is not the crucial factor for the revision of working version of wave development.

Having resumed the above-mentioned observations it is logical to expect market volatility fall (in the domain of contracting Diametric trend lines) for flat strategy applying for short-term trading.

EUR/USD-W1:

Work chart: