Sunday, August 15, 2010

Gbp vs Jpy & Eur vs Usd - Market Overview

Gbp vs Jpy (1H) - At this moment, I'm looking forward market to make further bearish continuation trend scenario to complete subwave 5 before expecting for any bullish trend. A breakout towards the bearish continuation critical line 1 would bolster to this scneario. Otherwise, please be careful for any breakout towards the pivot critical line.

Eur vs Usd (4H) - At this moment, I'm looking forward for a bullish retracement trend scenario to complete wave b in white (right shoulder of the H & S pattern) before expecting for another strong bearish continuation trend scenario. Otherwise, we may see either an extension of wave a or a "double top" wave b scenario. Good luck.