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EURUSD 27th May, 2015

Another repeat of the scenario that’s been taking place over the past few days: Price continued its somewhat sloppy decline, right as momentum kept slowly rising.

While it’s now more likely that EURUSD has been forming an impulse (rather than a diagonal), we still think that the decline is very close to exhaustion and that downwards potential is fairly limited.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 26th May, 2015

Cable unfolded towards the downside as expected reaching the first target and falling shy of the second target by 8 pips before reversing directions towards the upside.

Today`s main count explores the upwards possibilities for Cable and it is worth mentioning that we will be able to calculate short term targets once the wave we are tracking starts to subdivide upwards. The alternate count expects that Cable`s corrective downtrend has more to offer.

As always we will wait for either count`s confirmation points to be reached to determine the highly probable count.

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EURUSD 26th May, 2015

Price continued its choppy and overlapping movement towards the downside, at the same time that momentum is slowly rising. This gives more weight to our view that an ending diagonal is unfolding (and nearing completion).

The recent decline requires a few adjustments to our labeling, but the general picture remains exactly the same.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 25th May, 2015

Cable unfolded in a tight range. Main count was confirmed and targets are yet to be reached.

We are updating the main count according to the latest price action with short term targets and invalidation points. As well we are adding an alternate count which expects Cable to unfold towards the upside in a corrective manner.

As always we will wait for either count`s confirmation points to be reached to determine the highly probable count.

[View Wave Counts & Charts…]

EURUSD 25th May, 2015

We expected price to move up slightly, but instead it kept declining a bit, although in a very choppy manner.

Given the nature and extent of this recent movement, we have some strong indications that price is in very suitable conditions for a trend reversal.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 22nd May, 2015

Cable unfolded towards the downside as expected and first confirmation point was reached and Cable is yet to reach the final confirmation point and targets.

We are updating the main count according to the latest price action with short term targets and invalidation points. As well we are updating the alternate count which expects Cable to make new highs to complete wave a pink, it is worth noting that the alternate count is presented on a 6-hours chart for clarification purposes.

As always we will wait for either count`s confirmation points to be reached to determine the highly probable count.

[View Wave Counts & Charts…]

EURUSD 22nd May, 2015

Price dropped rather sharply for over 200 pips, invalidating once and for all our preferred count of an impulse towards the upside.

This brings us to the second most likely count, which is that of a leading diagonal.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 21st May, 2015

Cable unfolded towards the upside as expected under the alternate count and both targets were reached and exceeded by 24 pips.

We are updating the main count according to the latest price action with short term targets and invalidation points. As well we are adding an alternate count which expects Cable to move towards the upside in a corrective manner.

Today we are adding a second alternate count which expects Cable to make new highs to complete wave a pink, it is worth noting that the second alternate count is presented on a 6-hours chart for clarification purposes.

As always we will wait for either count`s confirmation points to be reached to determine the highly probable count.

[View Wave Counts & Charts…]

EURUSD 21st May, 2015

Price spent the day moving slowly, choppily, and entirely sideways. This is the hallmark sign of a correction in progress, and so our count remains pretty much the same as yesterday.

There is a small possibility that the euro is forming a leading diagonal, as part of a new temporary uptrend. But so far, we see nothing else to support this possibility, so we’ll wait until it gains a bit more weight before formally introducing it under our anlaysis.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

[View Wave Counts & Charts…]

GBPUSD 20th May, 2015

Cable unfolded towards the upside as expected under the alternate count and both targets were reached and exceeded and it is worth noting that Cable traded in a sideways manner and failed to hold to its gains as it ended the day almost where it started it.

We are updating the main count according to the latest price action with short term targets and invalidation points. As well we are adding an alternate count which expects Cable to move towards the upside in a corrective manner.

As always we will wait for either count`s confirmation points to be reached to determine the highly probable count.

[View Wave Counts & Charts…]