I'm back from a very exciting vacation. I didn't have the chance to look at any rates or charts duing the vacation, but I can see that things has been anything but dull. EUR/USD - The B-wave of the correction from the 1.2042 low ended with the test of 1.2660 and we should now see wave C higher towards 1.3490 and more likely the area between 1.3785 - 1.3832. Once we have this C-wave in place that will end the E-wave of the B-wave Triangle of one larger degree, but for now we will should concentrate on the development of the C-wave rally higher.
EUR/JPY - Wave 2 ended at 100.32 and the powerful wave 3 higher towards at least 110.76 is well under way. As can be seen wave 3 has already broken above the Base channel resistance-line, which could be the first sign, that wave 3 will extend towards 117.24.
Short term we could see a minor correction down to 105.72, but we should remember, that corrections in wave 3 tend to be sub normal.
EUR/NZD - Here it looks as wave 2 ended with a quick spike below the 50% Fib. retracement target at 1.5440 and we should soon see an acceleration higher in wave 3 higher towards at least 1.6336 and more likely even higher at 1.6916.
I prefer the series of waves one's and two's slightly above the rally being a Leading Diagonal, but this count can't be exclude at this point.
Facebook - With a low at 18.88 just 0.08 points from my invalidation point at 18.80 of my preferred count, you don't get anything more exciting than this, but as support at 18.80 did stay intact we should now see the next rally higher towards 28.70 in wave iii. Longer term I'm still looking for a rally towards the wave B high at 33.45.
No comments:
Post a Comment