EUR/CAD - Seems to be breaking down from its six months corrective pattern, which ultimately calls for a decline to below 124.75. The former support line at 133.17 is now becoming resistance. That doesn't mean we can't penetrate it slightly but not beyond 135.50 as that would leave us with a failure break.
US T-bond Yield - Has broken below support and is currently back testing the former support line, which has now turned into resistance. The downside should now be open to a decline towards the Double Top neckline (pink) near 135.50.
Gold - Should be headed towards support near 1,528, where strong support will be found. Looking at the bigger picture (see this link:
http://theelliottwavesufer.blogspot.com/2011/12/elliott-wave-analysis-on-eurusd-usdjpy_15.html) a much deeper decline could well be in the doing.
http://theelliottwavesufer.blogspot.com/2011/12/elliott-wave-analysis-on-eurusd-usdjpy_15.html) a much deeper decline could well be in the doing.
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