Sunday, August 1, 2010

Gbp vs Jpy & Eur vs Usd - Market Overview


Gbp vs Jpy (1H) - At this moment, I'm looking forward for a valid H and S reversal pattern refering to the alt count in white scenario. A pullback from the R3 critical line would bolster to this scenario. Otherwise, we may see another bullish continuation trend either to complete a double top subcorrective b in magenta or subwave 5 in yellow.


Eur vs Usd (4H) - Preferably, I'm expecting towards a bearish reversal trend either to perform a double bottom of corrective wave b in magenta or wave 5 in yellow. A valid diagonal triangle reversal pattern and a breakout towards the lower yellow trendline would bolster to this scenario. Otherwise, we may see a "bull trap" pattern (false breakout) at the upper yellow trendline. Good luck.