It’s time to revisit $FTSE chart as we last looked at it on 8.1.2013 and establish that bulls had regain control as Index showed a 5 wave move up following a 5 wave decline which is a bullish setup. We expected Index to find resistance around 6743 and turn lower in 3 waves to complete […]

Pair is bouncing from 76.4 fib of wave ( D ) @ 96.92. Marginal new lows to 96.78 could still be seen before pair turns higher. Cycle is very close to ending and bounce can happen at any moment. We don’t like chasing weakness in the pair as hourly cycles remain positive and like the […]

Expect marginal new highs to 105.00 to complete wave A as a FLAT. This should result in a wave B pull back  and further strength toward 106.67 – 107.99 to complete wave ( B ). Hourly cycles are negative but we don’t recommend selling in wave B as more upside would be expected after that. […]

Break of 97.44 suggests wave ( 4 ) is not over yet. Expect a test of 96.92 as the next level to look for longs in the pair. We don’t like chasing weakness in the pair as strategy remains to buy the dips in 3, 7 and 11 swings. If you would like to receive […]