NZDUSD Wave 3 of 3 just ahead?

NZDUSD may be completing it's second wave  after which an extremely powerful decline in a Wave 3 of 3 should unfold. The subdivisions of wave C of 2 Green are not entirely clear. Therefore as long as there is not a close significantly above the 110 period moving average on the 4 hour chart, I believe this count is still valid. If this count is correct the completion of Wave 3 Red should result in the NZDUSD falling to a minimum of .7150.

EURUSD heading to new lows!

EURUSD appears to have completed it's 4th Wave correction and should be heading to new lows in a fifth wave. Notice how Wave C Blue ended roughly .618 further than Wave A Blue, as well as just above it's trendline. This is typical of a C Wave.

*Wave C must be an ending diagonal to account for the overlap between Wave 1 Black and Wave 4 Black.

EURUSD likely to decline in Wave 4

EURUSD appears set to decline to the rising support of its current channel as it is likely in an ending diagonal.

USDJPY short term wave count

USDJPY appears to be completing a Green 2nd Wave correction and therefore should rally strongly off this test of 76.38 lows assuming that support remains in tact. We will know soon enough!

EURAUD Wave 2 Decline?

EURAUD Appears to have completed a five wave sequence from the lows set early this week. I expect a 40 to 60 percent retracement to unfold, but remember to keep stops tight as the next move should take prices far above current levels. Here is the link to longer term EURAUD to put this price action in perspective.

NZDUSD Short Term Bearish

NZDUSD Appears to be finishing a 4th Wave Correction. The fifth wave should beyond the end of Wave 3 and coincide with new lows in the S&P 500.

USDJPY looking bullish

With the USDJPY approaching significant trendline resistance as well as moving average support, I support establishing long positions near current levels. The Yen is the strongest of the majors against the dollar recently, and I believe that it will shortly play catch up to the rest of the world by depreciating vs the dollar.