Tuesday, October 19, 2010

Gbp vs Jpy, Eur vs Usd & Aud vs Cad - Market Overview

Gbp vs Jpy (1H) - Please be noted that the previous alt count in white and yellow is already invalid. Preferably, I believed bear trend is already exhausted and therefore, I'm still looking toward a potential bullish reversal trend scenario later either refering to the alt count in white or yellow.

Eur vs Usd (4H) - Preferably, I believed market in progress to perform either corrective wave a in magenta or subwave iv either in white or yellow. Another bullish continuation trend would bolster to the "head and shoulder" bearish reversal pattern refering to the alt count in magenta. Otherwise, we may see another bearish retracement trend scenario either to complete subwave iv in white or yellow.

Aud vs Cad (4H) - Favourably, I believed the bullish rally is already exhausted and therefore, I'm looking forward for a potential bearish reversal trend scenario in yellow. A valid diagonal triangle pattern would bolster to this scenario. But, please be careful that we may see a "bull trap" pattern to perform major wave 5 in white. Good luck.