10Y Spanish yield - The most important development since yesterday is the break above resistance at 6.73 in the 10Y Spanish yield. This break spells trouble for Spain, not that they are not in big trouble already, but the troubles is going to intensify in the coming weeks/months.
The break above 6.73 should raise the risk aversion in the financial markets over summer too.
Technical the break above resistance at 6.73 sets focus at 8.12 as the next target.
EUR/USD - Blue wave ii should be over at 1.2610 and I will be looking for a break below 1.2513 as first solid indication, that blue wave iii has indeed begun for a decline towards 1.1991.
AUD/USD - Here too we should be ready to continue the underlying downtrend. A break below minor support at 0.9925 will be first indication that red wave v is under way, while a break below more important support at 0.9817 will confirm that red wave iv is done at 1.0008 and a decline to 0.9449 is ongoing.
EUR/NZD - The rally to 1.6253 has clouded to short term picture and shifted focus towards an alternate count that sees wave 1 as finished at 1.6033. If this count is the right on we should now see wave 2 towards the 1.6421 - 1.6544 area. It is possible that wave 2 will extend a little beyond this area, but the important thing to remember here is, that it will only be a correction and that a new impulsive decline should be seen when this correction is done with.
sir it was great count in natural gas at this time. a perfect reversal count.really great.........
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