Friday, June 8, 2012

Xau/Usd : Big move down

Last time i talked about gold against the US dollar, the main count was bearish. This count was impulsive but price turned out corrective, which means that from the alltime high there is a complex double three correction, or WXY correction. Inside this complex double three, we are ready to start wave C of Y, which looks impulsive again, meaning that a powerfull 3th wave is ready to start.

Wednesday, June 6, 2012

Eur/Usd : Target is 1.1875

If we look at the price action, it is clear that there are a lot of complex corrective waves on different levels. This should continue until the 1.1875 low have been broken. Should price go above 1.2824 the count is wrong.