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 suppositions about significant deceleration of bearish trend, mentioned in the previous weekly review, have been confirmed with signs of close completion of (C)-wave as beak of (d)-(f) line took place. Correction structure features of (C)-wave suggest counting waves at least to (D) and (F) comprising [f]-wave of a higher degree. Note, that quite a logical perspective of further counting correction waves even now looks overload by time, which adds to some doubts either in accuracy of basic marking on the chart of a monthly data optimization period or in wrong interpreting of wave activity on the chart of a daily data optimization period. However, at this point, there are no alternative to the presented method of marking, therefore, as for [f]-wave, we have a case indicating that NeoWave triangle is formed, where (D)-wave exceeds amplitude of (C)-wave, however, it will be more segmented, but slower in its development, (E)-wave is expected to complete in (B)-wave range.

Summarizing the abovementioned considerations, we would prefer the case of [f]-wave formation, the upcoming week is expected to bring completion of (C)-wave close to (d)-(f) trend line or below it for planning long-term long positions with the targets of 1,40 or above.

EUR/USD-MN1:

Work chart: