EUR/USD - Odds favor that blue wave 4 only became very shallow and that blue wave 5 towards 1.2249 have already begun. If this is the case then risky trades will soon have to be close in a major fashion and cause commodities and stocks down.
USD/JPY - Blue wave 2 most likely ended at 79.20 yesterday and blue wave 3 towards 81.11 have begun. If this is correct it also means that important resistance at 80.55 will be broken along the way and confirm that the wave 2 correction from 84.17 did indeed end at 78.96
GBP/USD - Is in the final wave down towards 1.5610, which will most likely end wave 1 down from 1.6301, but longer term we are looking at a much deeper decline to below 1.3498.
AUD/USD - Most likely ended wave iii at 0.9686 and we should see wave iv towards 0.9846 and maybe slightly higher, but be aware that we are entering a stage where correction most likely will be shallow and short lived.
Longer term I'm looking for a decline to at least the 0.7946 - 0.8086 area.
No comments:
Post a Comment