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

 EUR/USD - The triangle ended sooner than I expected, but we knew it was just a question of time before wave five would take of towards the upside. The first target for this wave v is at 1.3315, which a break above 1.3071 will confirm.

GBP/USD - On September 14 I had a post under the name " Cable - Is a big rally just ahead" You can see the post here:  http://theelliottwavesufer.blogspot.dk/2012/09/cable-is-big-rally-just-ahead.html.

This option is still very much alive. However it hasn't yet been confirmed. For confirmation we need a break above 1.6300 and more importantly a break above 1.6747, but that would open up the upside for a huge rally higher towards at least 1.8822 and possibly even towards 2.0170.

Looking at the 4 hourly chart we could have seen the bottom of wave 2 at 1.5975 and is headed higher for a test of important resistance at 1.6194 and a break above here confirms that wave 2 is over and wave 3 is well under way.

 EUR/JPY - Has long been the mirror picture of EUR/JPY and here too we have seen a break out of the wave 4 triangle and is now headed higher towards 104.71 as the first target for wave 5.
If you enlarge the chart above (double click at it) you can see that we already have broken above resistance at 102.80 confirming that the triangle is indeed finished and wave 5 is well under way higher.

EUR/NZD - Here too we have powered ahead higher and has broken above the 1.5967 top, which confirms the underlying uptrend and calls for a move towards 1.6127 and 1.6215, but longer term we should move much higher and remember, that it's common for wave 3 to break above the base channels resistance line, so we have much more upside to cover.