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Gold: Temporary Low in Place


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Aug 04 2010 EDT

Gold reversed powerfully in the past week from 1156 region where a temporary low has been established. We believe that an impulsive decline from 1265 top is in place, labelled as a blue wave (1), followed by an upward bounce, which should be a corrective blue wave (2). Prices already moved above upper trend-line resistance, which now suggests for more bulls to come, but a corrective red wave B) should be seen, before even higher levels are reached.

Gold 4h chart:

Euro Intra-day review


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Aug 04 2010 14:50 EDT

Euro reversed from 1.3260 region, where top could have already been reached, as five sub-waves up in black wave 5 are shown. However, traders still need to be very patient with long dollar positions until we see five waves of decline from the highs on the intra-day basis. Current decline could be a correction!

Eur/Usd 1h chart:

Usd/Jpy: Bullish Reversal


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Aug 05 2010

Usd/Jpy reversed yesterday from 85.30 region, where it seems that a temporary low is now in place. The prices bounced exactly from the support line connected from 86.95 low, which in fact seems to be a lower line of an ending diagonal pattern. The wave structure suggests that prices are now headed higher, at least towards the upper resistance line.

Usd/Jpy 4h chart:

S&P: 1140 Is Still Possible


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Aug 09 2010

S&P 500 fell sharply lower on Friday, before the prices reversed in the second part of the Wall Street trade. As scuh, the bullish price action remains in play, as the prices are still trading well above 1088 support region. A wave count shows that an ending diagonal could be forming in blue wave (C) position, with a red wave 5) in process. If that is the case, then move into a new high should be seen, but not higher tnan 1147 region! Why?! Because wave 3) must not be the shortest wave of a five wave sequence. We can see that wave 3) is shorter than wave 1), so it must not be shorter than wave 5), for wave count to remains valid!! Resistance is shown around 1140 region!

S&P 1h chart:

Dollar Index: Low In Place?!


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Aug 10 2010

An upward structure from the lows is sharp and can be counted as a five wave move; impulsive structure, which should be part of some larger bullish price action. More strenght to come, while the 80.08 low is in place. If the short corrective pull-back appears in the near-term, then look for supports around 80.70 region!

Dollar Index 30min chart:

Eur/Usd: Lower Levels To Come


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Aug 11 2010

Euro moved lower in this week and finally broke through the red support line, which suggests that top is in place. Technically, the pair should now be headed lower, where an impulsive decline could be seen, with moves well below 1.3000 region. MACD is showing a double bearish divergence, which definitely confirms a bearish expectations. More weakness to come!

Eur/usd 4h chart:

OIL: It’s Only A Pull-back!


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Aug 13 2010

Oil reached 75.50-76.00 region, mentioned yesterday, where a recent swing point appeared. It seems that a red wave 3) has finished and that corrective wave 4) is in process, which may reach 78.00 region, before, a down-trend resumes. Bias remains bearish as long as the prices trades below 80, wave 1) low.

Oil 4h chart:

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