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EURUSD 23rd March, 2016

Today had been pretty much a replay of the day before. Instead of moving upwards right away as expected, the euro made a new 25-pip low. Nonetheless, our counts are still perfectly intact, with only minor modifications.

Probably the most accurate description of the market right now is that it’s “drifting”. Price is moving downwards, but with all the overlap and waning momentum, it’s very difficult to consider this a proper downtrend just yet.

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

GBPUSD

GBPUSD 22nd March, 2016

Cable unfolded as expected and both first and second targets were reached and exceeded locking in 98 pips in profit. Today`s main count expects Cable to continue downwards to complete a five wave structure and we should be cautious as Cable is expected to reverse directions towards the upside in a corrective manner following the …

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EURUSD 22nd March, 2016

Instead of moving upwards right away as expected, the euro made a new 70-pip low. Nonetheless, the main count is still perfectly intact, with only a minor modification.

Moreover, now that price made a reasonable movement towards the downside, we have an alternate count that addresses the possibility of another small rally.

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

EURUSD 21st March, 2016

The euro invalidated the main count and initially confirmed the alternate count by moving below 1.1242.

So far the movement has been very slow and overlapping, unlike what we would normally expect after the end of a triangle, but this could reasonably be just a warm-up, so let’s stay sharp.

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

GBPUSD

GBPUSD 21st March, 2016

On Monday`s session, Cable unfolded inline with the main count as Cable started the day by reaching the initial confirmation point and -so far- Cable is 9 pips away from the first target. Today`s main count expects Cable to continue downwards following a minor consolidation. The alternate hourly count expects Cable to unfold upwards and …

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GBPUSD

GBPUSD 18th March, 2016

Cable unfolded as expected under the alternate count and Cable found a bottom for the fourth wave at the middle of first and second targets which is to be expected from a downwards corrective structure. After the completion of the corrective structure, Cable unfolded upwards within a fifth wave. Even though it is technically possible …

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EURUSD 18th March, 2016

The week ended slowly and uneventfully for the euro, as price moved generally sideways and made an insignificant 2-pip low.

All counts and expectations remain the same, with only a minor modification in labeling to account for the latest movements.

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

EURUSD 17th March, 2016

The euro had another surprise in store, as price rallied over 100 pips and came to within 35 pips of our medium-term invalidation point.

But first, I deeply apologize for the delay in the publication of today’s analysis, as I had a hard-drive failure and I had to redo all the charts from scratch. There’s an upside to this, however, as I had to revisit the possibility that the long-term triangle formation may actually be complete or on the verge of completion, as we’ll discuss in a moment.

Today we have two hourly counts and two daily counts. There isn’t enough evidence right now to favor one over the other, but the price action of today and early next week should settle this once and for all. (Personally, I suspect that the “alternate” count is actually the correct, but I’ll refrain from promoting it right now since it involves a change of a long-term trend, which is an event for which I’d like to wait for some confirmation first.)

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

GBPUSD

GBPUSD 17th March, 2016

Cable unfolded exactly as expected under the alternate count and Cable unfolded upwards in an impulsive manner. Both targets were reached and exceeded and we did not calculate profit today as we had initial and final confirmation points and that setup could have been approached in various ways according to one`s trading style. We are …

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GBPUSD

GBPUSD 16th March, 2016

Cable unfolded inline with the main count`s view as Cable found a bottom and reversed directions towards the upside reaching and exceeding the main hourly count`s initial confirmation point. We are updating the main count according to the latest price action and today`s main count expects Cable to temporarily unfold downwards in a corrective manner …

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