Recent low at 100th 77 speed Been finally penetrated, confirming our bearish view That wave iii is still in progress and indicated downside target at the 100th 29 (50% projection of the 123rd 33-100. 77 measuring from the 111th 57), 100. 00 and 99th 00 HAD all Been system, as price is still under pressure, bearishness remains for medium term
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The British pound extended the circle wave V in 2011 in line with our expectations and met indicated downside targets at first 4000, 1. 3700 and the first 3190/00 (approx. 50% projection of the second 4967 to the 1st 5122 measuring from the first 8114), although the decline exceeded indicated projection target at the first 2030 (61st 8% projection), the Subsequent rebound from
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Despite falling to as low as 72nd 70 in H1 2011, the dollar index found good support there and staged a rebound from there back to the opening level of 2011, suggesting the major down trend is not ready to resume yet and wave IV correction is still unfolding as a complex correction.
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Despite last week?’s case to 0. 9862, this week?’s Rebound Suggests caution on our short position Entered at first 0150 and indicated minor resistance at first 0220-25 needs to hold to Retain bearishness for another retreat later. Below the first 0050-55 Would suggest the rebound from the 0th 9862 hock Possibly ended and spent Weakness to 1. 0000
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The single currency found buying Renewed Interest at the 104th 77 and HAS Risen Again, the Breach of previous resistance at the 107th 68 Adds Credence to our view That a temporary low speed Been formed at the 100th 77, hence consolidation with mild upside bias is seen for retracement of recent decline to the 108th 50 and
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Despite rising to 1. 0475 Earlier this week, the Subsequent retreat Suggests a temporary top ice Possibly formed and consolidation Below this level is seen for retracement to 1. 0290/00 and hadeeth Towards the first 0250, however, downside Should be limited to 1. 0200/10 and support at the first 0118 Should Attract Renewed buying no residue, making another
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Despite last week?’s case to 1. 3145, the Subsequent rebound Suggests a temporary low is formed there and consolidation with mild upside bias is seen for retracement to 1. 3690, however, Reckon upside Should be limited to 1. 3795/00 and spent another decline later. Below intra-day low of the first 3360 Would suggest top ice
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The Australian U.S. dollars Ran Into Renewed selling not raised at the 0th 9986 and resumed recent decline in c leg of Major correction to as low as 0th 9388, however, as price hock rebounded form there, suggesting the minor wave 3 (or wave iii of 3) speed Possibly ended there and consolidation with mild
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Despite Recovering to 1. 3799, the single-currency system Renewed selling not gone there (unfortunately just missed our sell entry at the first 3800) and resumed recent decline to as low as the first 3360 today, as indicated downside targets at first 3448 (100% projection of the first 4940-1. 3838 measuring from the first 4550) and first 3408 (50% Fibonacci retracement of the first 1876-1. 4940)
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Despite last week?’s rebound to the 114th 16, the single currency Ran Into Heavy victims there and speed tumbled again, suggesting the wave B from the 123rd 33 is still in progress in ITS c 2nd leg, the break of yesterday ‘s low at 108th 01 Would Extend Weakness to 107th 50, however, still expect this year?’s Low
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