NZDJPY Nearing Major Trendline Support

NZDJPY appears to be nearing a rally from its recent lows near the trendline which extends back to early 2009. It appears to also be finding support from the previous resistance channel of Wave C Blue. This upcoming rally should lead to prices not seen since 2008.

S&P 500 Triangle Consolidation Appears Complete

The S&P 500 appears to have complete a B Wave triangle and should now thrust higher to test the May high. A thrust from this triangle should propel the S&P 500 to roughly 1315. As triangles are always terminal patterns, I expect very sharp movement lower after this target is hit.

AUDNZD to fail at 1.3190

AUDNZD appears to be completing Wave 4 Green which is currently about 30 pips below its invalidation point at 1.3189. The 1.3150 - 1.3200 zone that we are now in has reversed prices on four other occasions in recent months. Furthermore 1.3173 is the 61.8% retracement of the Wave 3 Green decline. Therefore I expect current resistance to hold leading this pair to new lows. 


*Wave 1 Green must be a leading diagonal as Waves 1 and 4 overlap.