EUR/USD Analysis

3 counts today. All pointing to an eventual drop but not sure whether this will go any higher now

FTSE/DAX/S&P Analysis

The divergences still remain on the FTSE weekly chart. We edge closer to the 200SMA which sits at 5556. Still on double top/ending diagonal alert

EUR/USD Analysis

FTSE/DAX/S&P Analysis

Main count i have is we're now in 5 of 5 of C of Z of P2. Very close to topping out, might well happen this week.

Alternative count is the sideways movement today is 2 of 5 of C of Z of P2 and we wait a bit more longer.

EUR/USD Analysis

The dollar finally broke out before xmas and a new downtrend looks to have developed on the EUR/USD. The leg down seemed to be a complicated affair and EWI have labelled it as a extended 5th wave which is the best i can see too. I wont label it on the chart as did need help with that count, it would be copying and it is copyrighted material from EWI!

However, i have labelled Wave 2 on the chart as to what i think is happening.

FTSE/DAX/S&P Analysis

The call to carry on upwards was right as the waves suggested and how did it rock! We're coming close to the areas of topping out if this triple zigzag is to come off. The FTSE has now hit 5500 as well and bounced off 61.8% retrace on the weekly chart. The buyers still look pretty strong though and the counts ive come up with suggest one more high.

I've got 2 counts and im assuming we started the final 5 waves up today. One count is we're in the middle of a extended 3rd wave of 5 the other, we've just finished wave 3 and are moving sidewaysish for wave 4. More details on the charts.

FTSE/DAX/S&P Analysis

For the past 2 years, January has brought about a turn down in the indices. In January 2008, the FTSE fell as much as 1214 points. In January 2009, the FTSE fell as much as 728 points. If we're still in this bear market the bears are clinging onto, this month couldnt come any quicker! Looking at the wave count, we're nearly there. On the last trading day of 2009, we had another warning shot as the FTSE lost 71pts from the high, 25 of those in the last half hour of US trading. Across the indices, i feel was wave 4 before we get the final 5 waves to complete the P2.

The wave count does again seem more clearer on the Dax and S&P than the FTSE as per the charts.