Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Thursday 21 February 2013

GBPUSD v EURUSD: 2.21pm

I think the legends on the charts say most of what is needed. The key is that there is no proof in the trend line formation that this move in EURUSD is corrective off the top as yet and the supposed 'wave 4 or b' in the downdraft of GBPUSD, does not show any corrective formation either. Nothing is guaranteed of course, but all looks rather bigger in degree and impulsive to the downside, irrespective of interim retracements.
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