EURGBP - Weekly - Update

USDINR - Daily - Update - March to 52 & Higher

Target for c (of iv) is 46.00 (almost achieved today with low of 46.07).
Strategy: Long USD/INR at current levels.
Target: 47.54 // 48.20
Stop Loss: 45.70 (below wave i terminal)
OVERALL, USDINR LIKELY TO SURPASS THE PREVIOUS HIGH OF 52

Cheers.

EURUSD - Daily

ELLIOT COUNT ON DOW & EURO..

Dow flashing bottoming signal...

Tata Steel - Daily - 1st Target of 463 Achieved... But Down Side Not Done Yet...

First target of INR 463 has been achieved. But the pattern suggests that the downside move is not done yet.
Hold on to your "shorts"!!!

Cheers.

LME 3 Mths Zinc - Daily - 1st Target of $1610 Achieved... What Next...?

1st target of $1610 is achieved (call initiated on May 5, 2010 @ $2127)
The SL can now be trailed to $1970 and hold on to the short positions for the next target of $1400.

Cheers.

Crude Oil and Nasdaq rhymes...

An alternative count on Nifty

On closer inspection I realised that a more conventional 5 sub-waves rather than 9 sub-waves would be appropriate. The recent decline though has 5 waves down move but they overlap each other, so it seems more like a developing double zig zag. Hence the decline from 5400 to 4800 has more corrective shades than impulsive. Thats why I portrayed an alternative scenario were the markets make a final suckers rally in June-July...

Nifty on very slow distribution phase

Euro: On its way to wave equality

Wave "C" down is approaching a number of key support levels, subwave "4" of previous bull market @ 1.16 and then in terms of wave equality between wave "A" and wave "C" i.e., 100% projection of wave"A" on wave "C", @ 1.14. and finally the 61.8% of the entire bull market @ 1.12...

In the next chart is the Commitment of Traders report analysis on speculative positioning in CME for EURO-FX futures. The data represents Net speculative longs as % of total Open Interest. In mid-2007 we saw the extreme bullish sentiment reading on that indicator, with over 50% total outstanding positions in CME on net long side. In 2010 we see just the opposite picture, around 40% of net speculators betting on short side...

To sum up, I think there is a strong probability of 1.14-1.16 zone to become a floor for the euro...

USD Index - Weekly & Daily - Very Close to the Top???

Very close to the Top?
The wave pattern suggests that we have one more push UP in USD Index, which can drive the USDX to 89.037 // 91.319.
c = a @ 91.319
v = i @89.037


Cheers.

GBPUSD - Daily & 60 Mins

EURGBP - Weekly - With Revised SL

EURGBP could not find support @ 0.8401 as was expected earlier. But this does not negate the wave count. Was actually 'fooled in' (by the market) to go long near the 'trend support'.

With the pair trading below 0.8401, it can now drop to 0.8010 (wave c = wave a).

This is a good level to enter from the long side, with the minimum potential target for Wave 5 being above 0.95.

Cheers.