Euro, Cable, Yen & Canadian Dollar

The trend bias for the Euro and Pound is likely to be up. Looking at the waves for both of these currencies, we may well be within the vicinity of and and of wave or at least close.

The trend bias for the Yen should be the opposite of the Euro and Pound and we should start to see a decline on the Yen.

A friend called me last week and asked me to have a look at the Canadian Dollar. I have not looked at this for a while but after doing an analysis on this pair I noticed we maybe at the start of a short term wave 3 . Not only have we broken the down trend line, but we have done a pullback and continuation and bounced directly off the trend line itself. In addition we have been sitting above the 200 SMA for the last 3 days. This is looking good!

I have been having technical difficulties with the charts over the last couple of weeks and have still not managed to figure out the problem but I will attempt to upload some charts later in the day.

Good luck for this week.