(Click at the pictures to enlarge)This will be one of the more unusual posts as the are no Elliott wave counts on the charts, just plain technical analysis, and the reason is, that I have used them for something else.
I still think the are good showing whats going on.
GBP/USD (Cable) has activated a nice Shoulder/Head/Shoulder (S/H/S) formation, with a target near 151. We a possibly seeing a back test of the neckline currently, but when thats done, the target at 151 is calling.
GBP/JPY has a nice double top formation, with a target near 130. The is much more to say about that.
AUD/USD and NZD/USD are both pretty much the same. They are currently back testing the long term uptrend line that they broke in mid-2008. When the back testing is done we should see some massive declines.
If you use ordinary technical analysis, this is one of the few really good oppotunities you get in a year.
No comments:
Post a Comment