Sorry for yet another late update, but I have been very busy this last couple of days. EUR/USD - Wave b became rather deep, but as it didn't break below the start of wave a at 1.2241 keeps the count alive and we should now see wave c towards 1.2550.
USD/JPY - The rally from 78.16 has all the ear-marks of a wave three rally. I'm looking for a continuation towards 80.09 as the first target, but longer term I'm looking much higher levels.
GBP/USD - Withe the break above 1.5728 we should expect a continuation towards the 1.5805 - 1.5815 area as an ending diagonal is developing. Once this ending diagonal is finished a new powerful decline in wave 3 should be expected.
NZD/USD - The wave ii correction became much smaller than expected. My preferred count is that we are making a series of waves one's and two's. I expect red wave ii to end near the 0.8109 - 0.8111 area for the next decline towards 0.7910.
Only a break above 0.8139 will invalidate my bearish count and call for a new rally towards 0.8160 before the downside pressure takes over again.
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