EUR/USD - Have we seen the top with the test of 1.2590 or do we need one slightly new high just above 1.2590? I would not be overly surprised if we would see one last small spike above 1.2590, but I wouldn't expect to much of it and I certainly wouldn't bet on it. Red wave 5 down can start any time now and should bring us below 1.2044 towards 1.1677. A break below 1.2482 will be the first good indication that we have seen the end of red wave 4.
USD/JPY - I'm very very much in doubt here... Is this a boy or a girl? The very impulsive decline from 79.66 is not good for my bullish view, but on the other hand important support at 78.15 hasn't been violated yet, so I will keep my count, but just one tick below 78.15 will invalidated this count and turn the picture bearish for a new move below 77.90.
GBP/USD - Even though the decline from 1.5912 does look slightly more impulsive than does the decline in EUR/USD a break below 1.5816 is needed to indicate, that we found the top of wave 2 at 1.5912. As long as support at 1.5816 isn't broken one last minor spike above 1.5912 towards 1.5998 can't be ruled out, but here too we are very close to the top and it's just a question of time before wave 3 down will be under way.
Dow Jones Industrial Index - The decline from 13,330.76 does look impulsive in character and the break below support at 13,094 is the first good indication that wave 2 is over. For now I would hate to see a break back above 13,194 as that would call for a new rally towards the 13,330.76 high, while a break below 12,778 will the last hope for the bulls.
Gold - Is the top in place or do we need one last small spike above 1,679.84? Again we are close to the top, but we need a break below 1,657.19 before we get the first good indication that the top is in place, while a break below 1,634.14 is need to confirm the top and a new decline towards the strong support near 1,521
Crude Oil - It has been some time since I have last looked at Crude Oil. The correction from 77.29 has become bigger than I expected, but overall the picture hasn't changed. The correction from turned into a double zig-zag correction, which corrected 61.8 of the decline from 110.56 down to 77.29 and we should soon see renewed downside pressure for a break below 91.70 and more importantly 86.86, which will confirm a new decline below 77.29 towards 64.97 as the first ideal target.
Natural Gas - Here too it have been some time since I have looked at it, but nothing in the bigger picture has changed. We have a nice big bottom in place and we should soon see renewed strength for a rally above resistance at 3.12, which will confirm the next rally higher towards 3.78 as the next target, but longer term I'm still looking for a rally back up to the 4.90 high.
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