Wednesday, May 28, 2014

5_28

Potential End of 5 waves for correction ( or continuation) in AUD, NZD, EUR

NZD has a nice 5 wave pattern - as long as daily V stays low - we could see the same type of  bounce as we did to USDJPY once it started to breakdown it's support.

EURUSD- 786/127/(786 or the new 61.8)- puts the reverse around 1.3555

AUD looks like 4 will be 5 waves and so wave 5 could be short- 60-80 pips once e finishes (50-62% of c-d) ( looking for .9154 but that might be a real stretch at this point)

EURAUD- B wave taking longer than anticipated-  So maybe going to try and tackle 1.49 zone?
EURNZD- 1.6078/88 Looking for a reaction there (alternate is around 1.62)

Obviously for EURAUD/EURNZD to reach 1.49 and 1.62- AUD/NZD would be held lower while EURUSD reversed upwards (at least initially)