EURO YEN DIC 03 UPDATE

Euro yen pair has moved in sideways these last hours given by yen strength performing a nice bear pattern a " W " that it will confirmed breaking 1.0689. Below that level the first possible target is 105.80 then 105.40 and 104.80. The yen will keep getting stronger and it is better to help us also follow usd/jpy. This is pair has a min target 81.60 and as a max 80.90. So keep and eye in this targets and compare them with the euro yen to find out a coincidence, that could be the clue to think that the correction is over and we will continue the rally.

1H CHART

EURO YEN OUTLOOK DIC 03-07-2012

The euro yen is still playing higher and my outlook to target between 110.00-111.00 has not had too much change.

The daily chart has not changed the same perspective, but now the first target I see is 111.300 before end the year.

The 4h chart shows us that we are performing the last wave Y to means a move in 3 waves ABC. A is almost done or done and we could see this week a corrective wave B. In other case, we need to confirm the wave B breaking 105.30 if that did not happen we could see a wave V extension above 108.00 before a correction.

In the 1 hour chart we see two possibilities. First a perfect impulse 12345 that has not ended yet and corrective impulse abcxabc in this case abc is complete and we are performing x as a abc irregular flat as yen pairs like to do, that is why you see and alternative abc in the chart and x could reach the area (105.00-104.60). Each possibility depends if the pair makes or not a new high around 108.00. In the 15 min chart is more clear the situation.

Daily Chart

4H Chart

1H Chart

15Min Chart

EURO YEN IS TIME FOR CORRECTION

Euro yen has made a nice move up caused by yen depress, but now is time to correct a little. After made five waves up perfectly we need a ABC correction before continue the uptrend. So we must look at the last congestion zone the area 102.00 to 102.40. In that place the the pair must complete the move down. The indicators are moving to the down side and with the double divergence in the RSI, we are confident on this.

EUR/YEN 1H CHART

AUSSIE DOLLAR LAST LEG DOWN

The last week aussie was correcting the uptrend ended at around 1.0480. Using some fibonacci levels the correction is not over and the pair must find support between the area (1.0280 - 1.0260) for at least 3 waves back as rebound. Then that area will be critical for the market to decide if we go toward a new high or that was all for aussie strength and maybe we could see a nice H&S is the market is not convinced for risk apettite. 

AUD/USD CHART

POUND KIWI OPPORTUNITY UPDATE!

GBP/NZD 1H CHART

The support was broken now wait for pullback. There is to prices for the pullback. First the support 1.9366 or maybe a little more higher 1.9425. Forget it if you want to take the long. Wait patiently for the short option.

EURAUD COMPLETED THE CORRECTION OR MORE DOWN?

EURO AUSSIE hit a nice price at 1.266X 1,272 fibonacci expantion level. The wave B of the ABC correction could be done there, but the market fails to break 1.2413, I believe that 1,2215 is last swing to conclude wave B and start wave C.

EURAUD 1H CHART

USDCHF PATHS

Look the USDCHF:

1. Perfect equal legs for ABC correction

2. Targets (0,946/7) are perfect for Irregular FLAT

3. The uptrend could be finish or we still correction to abcwXABC.

USDCHF 1H CHART