by Ramki | May 5, 2010 | Euro
When a significant target is reached one should step back and look at the bigger picture again. Elliott wave analysis of EUR/USD suggests that the decline from 1.5144 finished its first wave at 1.4216. The second wave retraced 38.2% only (suggesting that the next sell...
by Ramki | Apr 15, 2010 | GBP
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...
by Ramki | Mar 30, 2010 | GBP
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...
by Ramki | Mar 24, 2010 | GBP
After rallying back sharply to 1.5380, the Pound has come off in what looks like a five-wave pattern. The final leg of these five waves is likley to be completed soon, and so we should get ready for a recovery back towards the previous fourth wave around 1.5110. So...
by Ramki | Mar 14, 2010 | GBP
Every now and then, the market will enter into a complex corrective phase. It is quite hard to forecast the degree of the complexity, and where the correction will end. All one can do is to take his/her chances at key levels. Right now I see some resistance between...
by Ramki | Mar 11, 2010 | Euro
It has been a while since I commented on the Euro. The EUR/USD currency pair has spent over a month in a relatively narrow range, and perhaps now is a good time to plan where the next strategic trade can be put on. Take a look! Spend some time reflecting on the...
