EUR/USD - My preferred count seems to work-out well. In the early trading hours in Asia we saw a decline below support at 1.2993, which I have labeled as green wave i and we are currently in green wave ii, which will find resistance in the Gap-area between 1.3063 - 1.3078 from where the next powerful decline is expected.
USD/JPY - Is barely holding above important support at 79.51. Any break above 79.51 will switch the preferred count to the alternate count, where wave 1 ended at 84.17 and wave 2 is ongoing.
No matter which count is the right one when this correction is done we should see a new rally higher towards 84.17 and 85.60.
GBP/USD - The decline from 1.6301 has been quite messy and the only impulsive possibility is that an expanding leading diagonal has developed as minor wave i down and we should look for a minor wave ii towards the 1.6200 - 1.6230 area, before re-newed downside pressure is seen for a break below 1.6111.
The risk is of cause that we still haven't seen the final top at 1.6301, but need one last high above here, but it most likely would be just above the 1.6301 high.
No comments:
Post a Comment