GBP/USD: Pullback Suggests Possible Double Top

Tuesday, July 6th, 2010

The GBP/USD pair is at a resistance area of 1.52, and has so far paused the current rally that started in mid-May. The latest video update noted a 1H chart head and shoulder pattern.

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GBP/USD: Pullback Suggests Possible Double Top

AUDUSD: Corrective Strength Set To Break The 0.8550 Level

Saturday, June 12th, 2010

With a higher weekly close wiping out its previous week gains the past week to close at 0.8499, risk of a recapture of its May 28′10 high at 0.8550 continues to shape. The implications of this break is that it will confirm a bottom (built after three failed downside attempts)

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AUDUSD: Corrective Strength Set To Break The 0.8550 Level

EUR/GBP: Pikcing Alternative Elliott Wave Count

Tuesday, June 8th, 2010

The daily shows that we are yet to complete Wave (C), which is an impulse wave. I believe the alternative count is appropriate because the break of the channel should be part of wave 3, not 5, which is suggested by the non-highlighted (i) to (v) counts.

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EUR/GBP: Pikcing Alternative Elliott Wave Count