"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)
Tuesday, December 25, 2012
Elliott Wave Analysis of EUR/USD, USD/JPY, GOLD, CRUDE OIL
I restart topostafter a brief illness.
EUR / USD
it has been exceededthe38.2Fibonacciretracement's, so the upward trend continues;thebullishscenario is an impulsivewave1-2-3-4-5 of wave[c] .
Usd/Jpy seems to be in anextendedwave 5 of (c) ;
now we have tobe very carefulbecause the alternate count prevails in case of the breakoutof85.52, so thehistoricaldowntrendthat has lasted over 30 yearswould end.
However,before moving on tothis secondscenario, we need strongconfirmation.
orgold isnear the endofwave(2) orthe alternative countwill prevail.
Oil is in a sideways pattern since 2months;
wave 2may alreadybe overormay extendupwardas far as93.9/94.2area. This is not a goodmarket fortrading.