Sorry for the late and short update.
EUR/USD - The rally from 1.2241 to 1.2386 has been in five wave (wave a) indicating more upside to come, once the ongoing correction (wave b) is finished. Wave b has been a deep correction to 1.2263 but we should see wave c towards 1.2550 take over. A break above 1.2343 confirms that wave c is developing.
USD/JPY - The rally from 78.16 does look impulsive (five waves) too which indicates that more upside is to come. I'm looking for 80.09 as the next target.
GBP/USD - The question is whether wave 2 ended at 1.5768 or we need one last rally higher towards the 1.5805 - 1.5815 area before the next decline sets in.
EUR/JPY - The rally from 95.71 is clearly impulsive (in five waves), which indicates that more upside pressure will come, once blue wave ii is over (likely over at 96.52) and we should now look for a break above 97.42 to confirm, that blue wave iii towards 99.78 has begun.
EUR/NZD - I'm still looking for a rally towards 1.5445, but the reaction from 1.5334 has been relatively deep, however I would expect support at 1.5197 to protect the downside for renewed upside pressure towards 1.5445. However a break below 1.5197 will delay the upside for a test of 1.5164 before up.
TLT (Braclay's 20+ Bond fund) - The break below important support at 123.18 indicates that a depper decline is under way from the important top at 132.21. The next major target for this decline is at 109.84.
Hi direction is not clear in eur/jpy and gbp/usd market is doing nothing since last 10 days. But the point of concer for me is trading nzd/usd which is in narrow 30 pip range since it has broken 0.8065 before the end of U.S session yesterday.
ReplyDeleteBut I was looking for nzd/usd updated chart but you did not post that chart if ther is any upside bias left because fall from 0.8233 seems to look correction but only a break below 0.8030 support will clear that if there is new wave deleloping
Thanks and regards