May 2009

EURO (EURUSD)

EWA charting on the daily time frame

eurusd_ewa_d1_may09.gif

Comment

Three horizontal lines mark the historical highs dated February 1991, September 1992, and April 1995. The lowest of these levels (February 1991) has already been a resistance in the end of March and the beginning of April this year. Upon completion of the impulse currently designated as (1) in the end of May, a corrective pattern (presumbly wave (2) accorting to the present EWA charting) was formed. The third, highest level (April 1995) may become the next resistance to be tested most probably within a month.

The bull impulse of May prompts the completion of the long-term large-scale triangle [A]-[B]-[C]-[D]-[E] and the beginning of an upward motion which will probably last for a few weeks and may hit the level 1.50000.

CANADIAN DOLLAR (USDCAD)

To be developed

POUND (GBPUSD)

To be developed

ДОЛЛАР/ФРАНК (USDCHF)

usdchf_may18_w1.gif

YEN (USDJPY)

To be developed

AUSTRALIAN DOLLAR (AUDUSD)

To be developed