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Tuesday, October 2, 2012

Elliott wave analysis of EUR/USD; EUR/JPY; EUR/NZD and Apple

I don't have much to add to my original post, other than EUR/NZD seems to have bottomed at 1.5453 marking wave 2. If this is correct we should soon see a clear break above 1.5650 and more importantly 1.5773 as wave 3 will work its way towards 1.6969.

Apple also seems to have topped out in wave 3, which a clear break below 656.00 (close below on a daily basis) will indicate.


 EUR/USD - Ready to take of in blue wave 5, we just need a break above 1.2960.
 EUR/JPY - Here to we are ready to take of in blue wave 5 too. A break above 101.05 and more importantly 102.10 will do the trick.
 EUR/NZD - Wave 2 might be over with the test of 1.5453 (just above the 50% retracement target at 1.5435
Apple - It finally seems as wave 3 have topped and we should be looking for a shallow but complex correction in wave 4 - A triangle maybe? As wave 3 clearly extended (just above 300% of wave 1) we should not expect a deeper correction than a 23.6% correction of wave 3, which will mean a decline to 557.

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