Thursday, July 26, 2012

Eur/Usd : 15min flat

A short term count for eur/usd, classic flat pattern, where wave C = 161.8% of A.

Xau/Usd : Triangle complete

The last couple of weeks, gold in dollars has been in a narrowing range. The triangle count looks complete now with wave E peaking above the AC trendline. Alternative counts have price still in wave C of the triangle, or in a wave Y of a complex double three.

Tuesday, July 24, 2012

Aud/Usd : The aussie bear is back

Aud/Usd has finished a complex double three, which can be counted as a wave X inside a bigger wave Y. This means that wave Y of Y has most probably started now. An alternative count is a big triangle, where price is now in wave C of a bearish triangle, where the 3 waves down from the +/- 1.10 high is wave A and the triangle is wave B. In this case wave C can go higher. Taking a look at the equities, i believe they're starting a huge decline aswell, which would favor the bearish aud/usd count.

Monday, July 9, 2012

Eur/Usd : Still in a downtrend

Since the last update there was a lot of sideways action, followed by a big move down last week. This sideways action suggets a triangle, which has ended and the downtrend has now continued. A slight adjustment from the previous count was needed, this is because there is an expanded triangle, which was a little less probable but now seems to be the correct count, even if the expansion is large.