Posted on August 31, 2009 at 17:17 in Uncategorized by Pierre CharleboisNo Comments »

We are at cross-roads on both pairs. I have believed for weeks now that a new top on the EUR/USD was expected but I am now also seeing the possibility for the GBP/USD.

Here’s a potential Elliott Wave count on both pairs with an alternate on the GBB/USD. I have to say there is a 50/50 chance of either one on the GBP. The defining line therefore becomes 1.6650 on the GBP/USD. A break above opens the door to a new top. however, I expect some retrace on the GBP/USD. Let’s see if the line at 1.6650 holds and becomes the trend defining barrier.


Posted on June 30, 2009 at 15:17 in Uncategorized by Pierre CharleboisNo Comments »

Here’s a count on the GBP/USD.

As you can see, the beginning of the structure fits the pattern very well. However the second wave is very choppy; which even though is not a true 3 wave affair, it fits within the rule exceptions of being a corrective wave pattern.

Moving forward it looks like wave 3 may be complete and we are now waiting for a resolution of wave 4.

BARE IN MIND, the count may need revising after the next series of price moves.


Posted on June 23, 2009 at 18:27 in Uncategorized by Pierre CharleboisNo Comments »

Here are the daily charts on some of the majors with speculation on where the larger pattern Elliott Wave count may be.

Cheers and good trading tomorrow.


Posted on June 16, 2009 at 9:24 in Uncategorized by Pierre Charlebois2 Comments »

All USD pairs moved higher as expected.

With the most recent move up on GBP/USD, the current wave count suggests it could make a new top.

As long as 1.62 holds as a bottom this possibility remains.

Cheers


Posted on May 21, 2009 at 9:00 in Uncategorized by Pierre Charlebois2 Comments »

Believe your eyes when you see a 300 pip candle.

This move is evidence that there is selling pressure at the 1.58 level and that a top may be forming. I would say it’s time to change the bias view from bullish to at least neutral and to consider the risk is moving to the downside.

Cheers and for those in the UK, parts of Europe and the US; Have a fun and safe long-weekend.

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Posted on September 21, 2008 at 11:45 in Uncategorized by Pierre CharleboisNo Comments »

Please see my report: http://www.fxstreet.com/technical/analysis-reports/fx-weekly-report/2008-09-21.html