Tuesday, February 23, 2010

Gbp vs Jpy, Aud vs Usd and Usd vs Cad - Market Overview


Gbp vs Jpy (1H) - At this moment, a breakout towards the white/yellow critical line would bolster towards the bearish continuation trend scenario in magenta. Otherwise, a "double bottom" and bounce scenario would bolster towards either the alt counts in aqua or white scenario.


Gbp vs Jpy (Daily) - At this moment, the alt count in magenta is more in favour. Otherwise, we may see a bounce scenario perhaps to perform subcorrective wave e/2 in white first before expecting for another bearish continuation trend scenario.


Aud vs Usd (Daily) - Preferably, I'm looking forward for a bearish continuation trend scenario to perform 5 bearish subwave structures i, ii, iii, iv and v refering to the alt count in white scenario with condition of major wave 2 in white is already completed. Otherwise, we may see another bullish rally perhaps to complete the unfinish of major wave 2 in magenta.


Usd vs Cad (Daily) - Favourably, I believed major wave 2 in yellow is already completed and looking forward towards a bullish continuation trend scenario to perform 5 bullish subwaves structures in i, ii, iii, iv and v. Otherwise, please be careful for any breakout towards the 1.0373 critical line. Good luck.