Gold

                                  The gold has resumed its long term trend again and the current trendline keeps the bull rally intact.

                    

• Overcoming the 1680 resistance the gold triggered its rally again. Last week was marked med term high at 1754 and the counter reaction was very moderate. 
• The current upswing suppose to pick up speed very soon.

                             

P.S. I Forgot to mention that (4)th wave looks truncated

Good luck trading!

EUR/USD - Elliott Wave Update

The pair EUR/USD chose the steep direction toward 1.4550.

EUR/GBP overcame the resistance 0.8795, and turned it into support.

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EUR/GBP - Elliott Wave Update

       The currency pair EUR/GBP made corrective pullback, which was little more complicated  than I expected , but it's OK.  
       The pattern which I prognosticated still seems to be valid, and I still expect bounce up toward 0.8940.
       As you can see the price gives a try to overcame the 0.8787 resistance.

       I would appreciate your effort to comment the instruments, which I analyze in this blog. If you have any suggestions - I am an open source. 

                                                            Good luck trading!

HSI

        There is not much to be said about Hang Seng Index, except that it has ideal classic wave structure. HSI not only drew five ideal waves, but it pulled back to 61.8% Fibo. It seems that it made long term bottom and ready to take off again. 

      Hourly picture shows the chart, that is full of huge gaps. Despite the gappy structure the one can count waves perfectly. I noticed that third waves are shorter than first waves usually, but the pattern stays valid.

Good luck trading!

DAX

      DAX may have finished the dipping  toward the bottom already. Since May/2 /2011 DAX unfolded in three clear A,B,C waves, and bottomed in Sep/12/2011. This bottom suppose to be the END of the Bear market/correction. The C wave lays right on the line of 423.6 % Fibo of A wave, and close to 61.8% of the whole bullish move since Mar/9/2009.

 The price action imposed bullish tune in my analysis on daily base. The waves look very clear, to be counted, and no doubting - this should be resuming the bull market. 

Good luck trading!

EUR/GBP

Looks like the Euro pushes up the GBP as well.

The (( C )) wave is expected to unfold toward 0.8940.

Good luck trading!

EUR/USD

The Euro tries to climb to 1.450 in a straight direction, or pulls back to 1350 first. 

Good luck trading!