Hey Guys,

Here's a scenario that may be playing out with the AUD/USD. There are five up so far and price looks to be about to move lower in wave (C) of the correction. Price has also formed a Head and Shoulders pattern so there may be some follow-through as more people enter this market on a breakdown of the neckline.

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I have mixed signals on the EUR/USD. Overbought momentum and sentiment. However, the other technicals have not broken down on my chart.

1. I don't see even a 50% retracement of the decline from the 1.60 high.
2. Unless the wave i high as it is labeled is broken, I still see upside potential in a wave v.
3. Even if it is broken it still may only be a b wave in an abc correction.

I would be very bullish as long as the wave i high is not exceeded on the downside. That would occur on a more than 50% retracement of the rally from wave ii low.

Even if it is exceeded I would be very alert for a reversal in a wave c up.

I am very farmiliar with zeitgeist and the truth of what is going on behind the scenes.. I wish everyone out there in the world would take a look at that video with open minds.. As far as I'm concerned the entire Bush Family can burn in hell if there is such a place.. they're all criminals.. I feel sorry for U.S. citizens with the laws that have been passed without there knowledge. I'm a Canadian and I am not looking forward to this whole north american union deal.. I want nothing to do with what's going on in the U.S. ...

diver
get on board, quick.
i believe that 1.4600 was the end of wave iv

Then don't worry about it. The NAU is only a theoretical concept dreamed up by conspiracy theorists. The United States (and the rest of the world for that matter) has been through rough times before and has managed to stay afloat. We should all try to not get so spun up about the events going on around the world. Sure, things are bad now and they will probably get worse, but we'll all still be here tomorrow, so it's really OK. Let's just keep counting our fives and threes and continue moving forward.

GREAT CALL!

japanese session just started few minutes ago and it looks like the dollar bearish sentiment is growing like a tidal wave.
Otherwise it is "all one market"; it looks like all currencies are ganging up against USD

The EUR/USD is being pinned by two trend-lines right now. The red line is a resistance turned support and is the level that price just bounced off of. The blue line is the top of a downward channel line that has been containing price for the last few days. I'd say a break to the other side of either of those lines would indicate the direction for the next trending move. A move higher would confirm a bullish bias, while lower prices may indicate that the recent price action was only a correction. What do you guys think?

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Hey Justy,
That is my count as well. It is also Big Mikes and Jamies based on the charts that wer put up recently. I chose to short Swissie at 1.09 but will wait for Euro to display 5 clear waves up. For now I see 3 since Bush's speech. Actually the first wave started before the speech but the third started right after. Need to see if it develops into 5. SO far it looks promising.

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Justy
Pls clarify, this is EURUSD, not GBPJPY, correct?
If that is the case, we are just about to break the upper line.

LOL the price tell us the charts is EU even if it labeled as GJ

I closed my AUDUSD short for now. Didn't like the internal wave structure.
Will look at it again later, tomorrow or next week.

Heres how Eur/chf is shaping up. One more low confirms a 5 wave move. (Euro shows a similar pattern) I would prefer the third wave had been longer but volitility is still low given the uncertainty. This could still be an abc until we see an new low. If this is a 4, it could take a while to play out.

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Justy those things happening in the world will very well be a problem for all people... And I can assure you the North American Union is no conspiracy theory.. George Bush signed off on it in 2005, along with Canada and Mexico I watched the LOU DOBBS report on CNN live back then when it happened. It will happen eventually. George Bush also signed into law in 2007 that the U.S. presidency is now a fiat dictatorship and removed the fiscal 4 year term for presidency without going through congress. In fact he himself could stay in office as long as he wanted to now, believe it or not ! (I wish I still had the article I read that in) I believe he himself will not take advantage of this power because he has done enough damage and people wouldn't have it yet, but that power will be passed on to future presidents.. And I somehow believe that one way or another The "Skull And Bones" Cult will have there way when it comes to world domination and there will be another BUSH family decendant in the white house one way or another sooner or later.

Have you watched that Zeitgiest video Justy ? I would deffinately take a look at it if you haven't, there's a lot of details in there about the fraudulent nature of central banks and their origin...

Anyway, that's just my opinion on things..

Heads up on the Gbp/JPY. If this count is correct, we may be be headed down in a BIG way very soon. May even be a nasty day in stocks.

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