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 did not confirm expectations of (C)-wave termination. The estimated break of A-wave commencing did not take place. Thus, the case presented earlier in the express review is not preferred at this point and needs some amendments. Nevertheless, additional events favoring either direction choosing are needed to review marking in daily data optimization period.

One of such events is further dynamic rate decline with new lows for (C)-wave, which will pave the way to mark (C)-wave by complex correction, where it is logical to anticipate formation of standard Correction pattern after (x)-wave in m 70 chart with weekly data optimization period.

Another event capable to suggest that (C)-wave is terminated will be a probable break of m70 termination, as break of A-wave commencing failed. This break may clear up (C)-wave structure and will be another sign confirming unusualness peculiar to Triangle waves.

Summarizing the abovementioned considerations, at this point, there are no recommendations for planning trading operations for the upcoming week or at least for its first half until the express review is released.

EUR/USD-MN1:

Work chart: