Outlook for Sterling Pound GBP/USD
After the Pound broke past the resistance at 1.5157, there was little to hold it back. The target appeared to be 1.5615/20 levels, and the attached two charts will testify why I felt like that. In fact, I had even emailed some of the old faithfuls this morning that the time for the bulls may be [...]
Technical analysis of Citigroup
Citigroup has been moving up quite steadily this year. Has it got more room on the upside? I think so. Take a look at the two charts here. The first chart is to illustrate how the stock has respected the Elliott wave patterns very well on its way down. IN the second chart of Citigroup, you [...]
Technical Analysis of some Kuwait Stocks
It has been quite a while since I posted technical comments on Kuwait stocks. So here are some charts that may be of interest to some of you. (Even if you don’t have any interest in Kuwait, you should look at the these charts because they give you additional practice of how one can read [...]
Short term outlook for Sterling Pound
Now that the Sterling Pound has almost reached its short term objective above 1.5100, it is natural to wonder what next? If we break above 1.5110, then there is a chance to take a look at 1.5157, which marks a 61.8% retracement level of the prior drop. Selling near there is a low-risk trade. However, [...]
GBPUSD Short Term Outlook 25 March 2010
GBPUSD is likely to experience a bout of correction towards 1.5100 once we complete the fifth wave between 1.4780 and 1.4855
GBP/USD complex correction
After being held back by 1.5065/85 level a few times, the Pound has broken higher, indicating the complex correction in GBP/USD is not over yet.
GBP/USD short term targets met
It all seems so simple after the move!
But fortune does favor the brave. Go back to the last two days’ updates and see how you could use Elliott Wave analysis to trade effectively. Ramki
Medium Term outlook on EUR/USD
The Euro has spent a month in a relatively narrow range. Allow for one minor rally to 1.3835 and then a big dump.
Short term Sterling outlook
Although GBP failed at the first resistance of 1.5020 area yesterday and came off to 1.4873, there still exists a good chance to revist that area soon.
Sterling Pound Short Term Outlook: Update
After the fifth wave extended as anticipated, we should now be ready for a snap back towards 1.5020/1.5070 in GBP/USD
GBP/USD update for short term traders
Short term traders of GBP/USD beware of a sharp recovery to 1.5070 once the 5th wave extension is over.
Medium Term Outlook for GBP/USD
In this update, I am going to look at the medium term outlook for Sterling Pound, or GBP/USD. Those who have subscribed to this blog would have seen the last medium term update on cable, (another name for GBP/USD) posted here on 4th August 2009. (here is the link to that post). But the more [...]
Elliott Wave Analysis of Gold : 2 February 2010
A correction can sometimes be 100% of the prior move, and this is what we seem to have got in Gold. Take a look at this chart where the Elliott Wave count labels are clearly marked. Gold has retraced 100% of its prior rally and has embarked on a strong rally that we have been patiently [...]
Elliott Wave update on Dow Jones: Internal Wave Count
One of the readers, Jim to be specific, has asked for the internal counts of waves (1) and (3) of the wave count of the Down Jones Industrial Average that I had posted on 17 Jan 2010. He requested this because he wasn’t sure if they looked impulsive. As I have mentioned elsewhere, Elliott Wave Analysis [...]
ELliott Wave Analysis of Dubai Index 18 Jan 2010
Following an extended 3rd wave sell off, the index had recovered by 50% of that decline. However, I feel that this recovery was only part of a complex 4th wave. SO be patient while this 4th wave unfolds over an extended period of time. We will get the 5th wave much later, at which time [...]