Month: October 2015

EURUSD: Waiting for the Euro to Give In..

Last week we expected the euro to start falling again, which was exactly what happened. Price came crashing through our confirmation point, and then continued downwards to come 33 pips short of reaching our first target.

This price drop occurred in 5 waves, which strongly confirms our view that the downtrend is back in play. But as we know by now, every completed 5-wave sequence needs to be countered by a corrective move in the opposite direction, which is what we expect to see during this week.

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

GBPUSD: Strapping Seat Belts !!

In the previous analysis, the main count expected upwards movement while the alternate count focused on the downwards probabilities for Cable.

Cable confirmed the alternate count and both targets were reached and exceeded.

This week`s main count expects Cable to continue downwards while the alternate count expects upwards corrective movement before resuming the downtrend.

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