EUR/USD - Seems to be ready for the next more powerful leg higher towards 1.3050 and the first target for blue wave 5 at 1.3197.
EUR/JPY - With the break above 101.20 the impulsive character increased dramatically and we should now see wave moving higher through resistance at 102.10 towards 103.85 towards the ideal target for wave 5 near 105.70.
EUR/NZD - The rally from 1.5453 is clearly impulsive in character. The main question is whether we have wave iii in place at 1.5780. It could well be as wave iii at 1.5780 was almost exactly 2 times longer than wave i, which is a very common extension target. However if the correction from 1.5780 become very shallow the odds will favor, that wave iii will last a little longer and end at 1.5890, where wave ii will be 2.618 times longer than wave i.
Gold - Seems to be ready to break clearly through resistance at 1,791 and confirm that wave 5 is under way. The first target for this wave 5 will be at 2,158.84, but wave 5 could extend even higher towards 2,550 and maybe 3,184.
We should always be careful with major wave fives as this is when the crowed finally get interested and push prices substantially higher.
Crude Oil - Has begun its next leg lower towards support at 78.67 and 77.29.
Be aware the we have a long term support-line near 82.00, which could provide substantial support.
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