Monday, March 15, 2010
Gbp vs Jpy and Eur vs Usd - Market Overview
Gbp vs Jpy (1H) - Favourably, I believed market in progress to perform a bearish continuation trend scenario either refering to the alt count in white or magenta. But please be noted that, market may perform a bullish retracement trend scenario to complete subwave 2 refering to the alt count in aqua.
Gbp vs Jpy (Daily) - At this moment, I believed market in progress to perform another bearish continuation trend scenario. A breakout towards the yellow critical line would bolster to this scenario. Otherwise, please be careful for any breakout towards the magenta critical line.
Eur vs Usd (4H) - Preferably, I believed market in progress to complete subwave 5 in 1 either in magenta or yellow. A breakout towards the lower red trendline would bolster towards the alt count in magenta scenario. Otherwise, please be careful for another bullish retracement trend refering either to the alt count in yellow or white. Good luck.