EURAUD Ready to Bounce?

EURAUD appears to be completing a massive corrective wave after the initial thrust upward. It may still have slightly lower to go but should not exceed the origin of wave 1 at 1.2927. If this level holds we should see a Wave 3 Green take prices well above the highs at 1.4250. Very good risk to potential reward.

S&P 500 Mid Term Chart Update

After being rejected again by the 55 day moving average the S&P 500 appears to be set for an extended fifth to complete Wave 1 Green down. I will try to stay ahead of the market and give an update before a sharp short covering rally takes place in Wave 2 Green up.

EURUSD Approaching Major Trendline Support



With the Euro approaching the bottom of its trendline since the beginning of the year, there is a real possibility of a major 3rd of a 3rd breakout to the downside for the EURUSD.