EUR/USD and GBP/USD currency pairs

52 week low on US Dollar index is at about 76.25, while it bottomed at about 78.80 in Dec 2008. It is not at 80.18. 76.25 is an especially important support level. It may coincide with our EUR/USD target of 1.44!
In the meantime, it looks like we hit iii of (v) of 3 of C at 1.3951.

The targets for v of (v) of 3 of C are 1.4077 and 1.4111. Thereafter we should see wave 4 of C (a correction in EUR/USD).

The target of v are derived from i and iii of same degree. Going short at about 1.4070 and stop loss above 1.4160 may be one of the techniques.

EUR/USD 30 minutes


I have revised the count for GBP/USD currency pair. Some labels are shown here. Looks like we are in (4) and it is expanded flat correction with wave c going to about 1.5735. Although previous wave 4 is in the area of 1.5777, the impulse has been very strong and Flat correction does not reach there unless it is a complex correction and a combination of corrective waves takes us down there.

GBP/USD 30 min