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Wednesday, April 11, 2012

Elliott wave and technical analysis on EUR/USD; USD/JPY; GBP/USD; USD/CAD and EUR/JPY

 EUR/USD - If we are ready to challenge the neckline support near 130.10 there is no more room to the upside, but as long as minor support at 130.64 holds firm we could see a move towards 131.65 in a more complex correction. However it should only be a question of time before we will neckline support at 130,10 challenged.
 USD/JPY - Seems to have finished its correction from 84.17, but we need a break above 81.85 to confirm that and a continuation higher towards 85.50.
 GBP/USD - Here too it's a question if we have already seen blue wave ii ending at 159.30 if so we should see an immediate decline below 158.50. As long as support at 158.50 holds firm we might need one more rally higher towards 159.55 before blue wave ii id done and we will have the real challenge of the neckline support near 158.15.
 USD/CAD - Is sitting just below important resistance at 100.50 any break above here will release a powerful rally towards neckline resistance near 105.85. It should only be a question of time before we see the break above 100.50.
EUR/JPY - We needed a slightly deeper correction (the low has been 105.44), but I expect we have seen the bottom of wave 2 and soon will see a break above 107 and more importantly 107.46 that will confirm the bottom and the next rally higher towards 112.50 as the next target.

2 comments:

  1. sir it is bleeding now................going for sub 2 $ no support coming their..., what is going on sir............ it is huge furstation..

    ReplyDelete
  2. sir plz update...........it's really bleeding very hard

    ReplyDelete