EUR/USD - Green wave iv is now well under way and should ideally make it to 1.2588, but be careful as we are in the absolutely last part of the decline from 1.3178, but also remember in the bigger picture green wave v only ends blue wave iii down. We are most likely looking at a period of small ups and downs, which at some point will look like and ending diagonal, but isn't and should finally result in a powerful resumption of the decline.
USD/JPY - Minor blue wave 1 ended at 80.14 and we are currently in blue wave 2. Wave two's in this cross tend to be very deep and take back close to 76.4% of wave one's, but at no point can a break below 78.96 be accepted as that would tell us, that the correction from 84.17 isn't over yet.
Buying USD close to the 76.4% retracement at 79.24 should pose a low risk buying opportunity with a stop at 78.95.
In the slightly bigger picture we still need a break above 80.55 to confirm that an important bottom was found at 78.96 and that a new impulsive rally have begun.
EUR/JPY - A deep wave 2 or B correction is ongoing from the 111.43 high, which marked the end of wave 1 or A.
Short term I'm looking for a break below 100.17 to end the five wave decline in wave c of 2 or B.
The ideal ending point for wave 2 or B is in the 99.12 - 99.72 area, but just one tick below 100.17 will fulfil the demands for this wave c down.
A break back above 100.96 should pose a low risk buying opportunity with a stop just 1 pip below the low before the break back above 100.96.
CHF/JPY - The picture here is the same as for EUR/JPY. The big count is different, but here too we are in a correction since the 92.40 high and just need one last low below 83.54 to fulfil all demands for wave c down from 89.88.
The ideal target for this last decline is in the 82.52 - 82.75 area.
Here the low risk buying point is a break above 84.04 with a stop just 1 pip below the low before the break of 84.04.
Crude Oil - Should be very close to it's minor wave iii low setting the stages for a minor correction towards the 96.50 - 97.00 area, but we should see much more downside later on.
Facebook.com (FB) - I don't do much in single stocks, but found it interesting to look at Facebook from it's IPO. As can be seen we have seen a clear five wave decline from the 45 high, which warns that we shall see more downside after a correction towards the 36.66 - 38.00 area.
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