EUR/USD - The the shown count is correct, then EUR/USD should go no higher and soon begin the next powerful decline to below 1.2441 and 1.2286 for a decline towards 1.1991.
A break above 1.2671 will delay the downside for a move closer to the 1.2788 - 1.2824 area before down.
Therefore selling EUR here at 1.2613 with a 1.2675 stop should be a low risk opportunity.
USD/JPY - Was never able to break above resistance at 79.78, but below support at 79.48, which told us than one more low was needed in a triple correction from 79.78.
The final correction from 79.74 has been slightly bigger than expected, but support near 78.27 should protect the downside for a new powerful rally in wave iii.
The first indication, that wave ii is done and wave iii has taken over will be a break above 79.03, but more importantly is a break above 79.50.
NZD/USD - Here too the correction has extended and by break above 0.7780 the next potential target is 0.7887, where wave 4 will have corrected 50% of wave 3. The extension of wave 4 also means, that wave 5 probably will decline beyond 0.7390 towards 0.7252. But for now we should concentrate on the most likely ending point for wave 4, which is near 0.7887.
At no time can a break above 0.8056 be accepted, as that will leave us with an overlap between wave 4 and 1, which is not allowed under the EWP.
EUR/NZD - I have shown a couple of possible count over the last two days, but with the break below Wednesdays low at 1.6033 yesterdays count is invalidated at we are left with the count calling for a decline towards 1.5920 before the first impulsive wave down from 1.6969 will finish.
Gold - Has reached the ideal target-area for wave ii and should soon begin to decline, but as long as support at 1,609.60 stays firm we could see the last minor rally towards 1,628.80 before down hard in wave iii towards very important support at 1,521.
At no point can a break above 1,640.50 be accepted under this count.
Natural Gas - With a low at 2.16 just a tick above support at 2.15 we have seen a very impressive rally, which is just what we would expect under the preferred wave count. We should soon see resistance at 2.70 broken for a continuation higher towards 3.54 and possibly even 4.40.
No comments:
Post a Comment