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S&P500 Headed Now To 1350

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May 04 2012

S&P500 accelerated lower as expected after a slow upward movement from 1393 to 1403, which was identified as a corrective leg. For now, we still have only three wave fall, which was our minimum expectation as mentioned in the video on April 30. But because of a flat formation in wave B, which is a corrective leg, our primary view suggests that market will move impulsively lower, towards 1350.

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Eur/Usd: Price Still Bullish But Clearly Corrective-Reversal In View

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April 30 2012

Euro is still in a recovery mode since April 16, with price trapped between two parallel trend-lines. Price action is very choppy and overlapping from 1.3000 low and definitely cannot be counted impulsively. As such, we believe its corrective, probably a wave D that should find a top in this week, ideally around 1.3300.

Once top is in, market will make at least three waves to the downside. Broken support line will be a key for that weakness within wave E.

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Gold: Sideways But Bearish Below 1680

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April 24 2012

Gold is trading sideways for few days now if not weeks, so we decided to rework the count. We are now observing an incomplete triangle placed in wave B) with sub-wave E yet to come, which is limited at 1680 level. After wave E, market will reverse lower into wave C), beneath 1612 low.

May 04 2012: Updated count

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(Elliott Wave) Gbp/Usd: Back To Bullish Mode Above 1.6

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Apr 22 2012

Despite some pound weakness seen more than a week back from 1.6060 level, pair was unable to break beneath the support channel line connected from January low. In fact, that line caused a strong buying into a new high seen in the past week, which we now believe its a wave C leg; third leg of a zig-zag recovery after a runing triangle in B wave. As such, we are now focused on more strenght for the next few days if not weeks, towards 1.6200 or even higher, before wave E) from 2012 low is complete.

Pair will reverse into a bearish stage only when 1.5800 gives way!





Usd/Cad Can Reach 7-Month Low (0.9800)

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April 18 2012

Canadian dollar was one of the strongest yesterday, fell sharply lower after a swing reversal from 1.0032 where we believe that wave (ii) reached a peak. Notice that decline is very sharp, which also broke and closed below corrective channel and base channel support as well. This is indication for a third wave price action of a new impulsive bearish sequence headed now to 0.9800 projected zone for the first impulse.

We are bearish while pair trades below 1.0032 swing high.






Eur/Usd Trade Example

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Apr 16 2012

Euro moved higher in recent sesion after pair reached psychological 1.3000 level. From an Elliott Wave perspective we have five waves down, which means that pair is ready to recover, ideally in wave two. We think that right now its too early to look for any new short positions, as we booked (1.3055) a nice trade yesterday from 1.3160 and 1.3200 levels that we carried from the past week.

Click on the video below to see the analysis we shared with our members at that time.

April 11: Eur/Usd set-up chart

April 11 video:


Eur/Usd In Upward Correction; Downtrend Should Resume Soon

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Apr 12 2012

Euro unfolded impulsively from 1.3382 peak, which now appears to be wave (i) bottomed at 1.3035. We know that impulses shows direction of a trend, so we will be looking for further weakness in days ahead with fall beneath 1.3000 psychological mark. However, before downtrned resumes, pair will look for deeper pull-back ideally into 1.3200 zone, where wave (ii) may find a top.

Critical/invalidation level is at 1.3382.

eur

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