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.

Sunday, 22 September 2013

EURJPY Weekend Summary

So, if you read my EURUSD & USDJPY weekend summaries, I have the former to rise after any residual correction is complete in a 'c' wave and the latter to fall, again after any residual upside is complete, in a 'c' wave. So, EURO strengthening and YEN strengthening. If this plays out, then EURJPY is going to be caught in the tussle.
 It does look like a triangle in wave 4 after the push up last week.
 
 However, I am counting the push out as an expanding diagonal, with the 'e' wave looking for a final push. Given the possible upside in the EURUSD if it breaks the 1.30798 high and the the USDJPY once it has put in its 'e' low, we could see this really fly but after a retracement follows the USDJPY down into its 'e' low.
However, until then, I am looking for a pop up to complete the expanding diagonal for '1' or 'A' and then a deep retrace, until the USDJPY is ready to break its own triangle. This might coincide with EURUSD rolling around the 1.30798 high. We shall see.
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