Wednesday, April 18, 2007

April 18, 2007

GBP/USD
Uptrend is still intact in a triangle configuration. It should continue to rally to 2.0136 or 2.0203 if support around 2.0008 hold. After which a pullback to 2.0008 - 1.9975 zone is possible.

EUR/USD
A correction down to 1.3529 or lower is now expected from 1.3562 or 1.358. A break above 1.3631 is needed to turn bullish.

USD/JPY
There is bearish potential for a fall to 118.56 while 119.18 - 119.37 resist. After this fall a recovery up to 119.37 or 119.55 is expected.

Elliot Wave Based
GBP/USD : extended impulse wave up 2.0181
EUR/USD : elongated flat correction up 1.3637
USD/JPY : flat correction down 118.2100

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