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EURUSD 27th August, 2015

Yesterday the euro invalidated our main count by moving towards the downside and reaching the 1.1214 price level. And even though it didn’t break the invalidation point by a significant margin, this overlap – along with the extended nature of this downwards movement – strongly suggest a change in trend.

The coming 2-3 days will be important for determining the new direction of the euro. If price moves upwards in a corrective, slow and overlapping fashion, this will increase our confidence that the trend has turned towards the downside. At any rate, and unless you have a solid system of risk management, we think it would be wiser not to engage the market today, and instead to wait for this correction to be complete before riding the third wave downwards.

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 August, 2015

Cable unfolded sharply towards the downside as expected under the alternate count and both targets were reached and exceeded.

We are updating the main count according to the latest price action and providing an alternate count which focuses on the short term view. Calculating targets for fourth waves can never be done with confidence, since Cable`s fourth waves always tend to fall short of their targets.

However, in this case we are focusing on the short term because of three main points:

1- Wave 2 was a shallow correction and according to the “rule of alternation” which Cable fail to respect frequently, a fourth wave should be expected to be a pronounced retracement.
2- So far, wave four is yet to reach the common Fibonacci ratio of fourth waves and that suggest along with the third point that wave 4 has more to offer.
3- From a time prospective, wave 4 is shorter than wave 2.

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

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GBPUSD 25th August, 2015

Cable started the day by unfolding upwards and it fell short of the specified target by 4 pips before reversing directions and moving downwards.

We are modifying the subdivisions within wave (c) green for the main count according to the latest price action. On the other hand, The alternate count expects that a C wave is complete and that downwards impulse is underway.

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

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EURUSD 25th August, 2015

As expected the euro moved towards the downside, reached our first target at 1.1450, and came 22 pips short of reaching our second target at 1.1368.

It’s very highly likely that this small downwards correction is complete, but we’re including an alternate count to cover the possibility that it’s turning into a more complex correction.

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 24th August, 2015

Quite an exciting start for the week. Once Cable reached the main count`s confirmation point, it continued upwards reaching and exceeding all targets and exceeding them by 7 pips.

We are updating the main count according to the latest price action and the main count expects that Cable`s upwards movement is incomplete. On the other hand, The alternate count expects that a C wave is at its late stages as an ending diagonal and it suggests that a downwards retracement is required before resuming the final leg within this C wave.

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

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EURUSD 24th August, 2015

The euro came 13 pips short of reaching our first downwards target, forming a very small fourth-wave correction, and then it immediately rebounded towards the upside in a very impulsive manner, exceeding our upwards target by a remarkable 109 pips.

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 August, 2015

On Friday`s session, Cable unfolded in a tight range leaving both counts valid as it is yet to reach either counts confirmation point.

Cable ended the session almost where it started it forming a “Doji” japanese candlestick. A “Doji” represents indecision between bulls and bears.

We are updating the main count according to the latest price action and the main count expects Cable to continue towards the upside to complete a C wave. The first alternate count expects that a C wave is at its late stages with one last push upwards before reversing directions sharply towards the downside. Finally, the second alternate count expects that a top is in place and that Cable has started unfolding downwards in an impulsive manner.

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

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EURUSD 21st August, 2015

The euro invalidated our main count by continuing its movement in a strong rally for an additional 200 pips, gaining a total of almost 500 pips in less than a week. Nonetheless, our medium-term view still stands, with only a modification to its subdivisions.

Right now the euro is in a very active position. It’s likely that its current bullish momentum will carry it a bit further upwards over the next several days, but we’re also including an alternate daily count just in case the “lucky streak” runs out on the euro.

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 20th August, 2015

Cable started Thursday`s session by continuing towards the downside in an exact replica of Wednesday`s session. The nature of that downwards movement agrees with the main count`s view as downwards movement was clearly corrective in nature.

Just prior to publishing today`s analysis, the main count`s confirmation point was reached and exceeded by 5 pips and that increases the probabilities of the main count`s view.

We are updating the main count according to the latest price action and the main count expects Cable to continue towards the upside to complete a C wave. On the other hand the alternate count expects that wave ii pink is complete and that wave iii pink has started unfolding towards the downside.

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

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