Hello,

As I wrote in a previous post (https://www.dukascopy.com/tradercontest/?action=post-read&post_id=117610), I return this time with a post by technical analysis (tag). Though not know the length of time and shape of model that is going to form (I just know that is an impuls - possibly terminal) I will argue with graphics, everything I write.
We start from the fact that the support of 1.0522 was broken.

What does this thing mean.
For me is the first step in triangle confirmation (the waves (d) and (e) were finished and have this numbering).
Wave (d):
and wave (e):
As seen in the chart, wave (d) its anticipated withdrawal, by the wave (e), between 50% and 61.8%. Is this a coincidence?
I say NO! But to explain. Looking at the weekly chart, we see the formation of an impulse, which currently has 4 waves finalized and wave 5 [v] is in progress. What is the connection, with the withdrawal of wave (d) between 50% and 61.8%, apparently none but in the weekly chart for a longer period, the things look different.
What see we?
A flat, which has wave [b] a triangle.
What kind of triangle? It is an irregular, contracting and unlimited triangle.
Who say this? I, because I study the triangle from very much years. The throwing of this, is wave [c], which will be between 0,9477 and 0,8705.
To obtain this, wave (d), must retraced between 50% and 61,8% (for an horizontal, contracting and unlimited triangle - our case).
Now, cumulating, what I previously written with the new triangle formed and that the wave [v] is less than [iii], wave [v] will be between 0.9273 and 0.8766.
How long will be this impulse in time and what form will have? I don't know, but can be two situation: short time, with wave [i] shortly and [iii] extended and [v] approximately equal with [iii] and long time, with wave [iii] extended but no more by 1.618 from [i] and [v] smaller than [iii].
The confirmation will come once with breaking 1.0461 support and the impulse form, ahead 1.0000.
How much will be eur-usd on January 2?
I don't know and probably nobody knows this. If it happens to be close to prediction, it is just luck.
The technical analysis, is just work.
What says the technical support? Worth this analysis heeded? Dukascopy is interested in cooperation in the future?
You probably expect completion of wave [v]. It is correct and I hope to you read this.
I will return, when it will shape the impulse form.
Good Luck!
Ovidiu
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