British Pound forecast as of 10/28/2008

Market is in the process of “Impulse” (IM) 4th wave in the range of 1.5587 – 1.6347 by October 31st. Market move above 1.6750 signals that move down is done and longer term move up has started.

Impulse is a five wave pattern, where three waves (#1,3,5) are impulsive in nature and two waves (# 2,4) are  corrective in nature.

Euro forecast as of 10/28/2008

Market is in the process of “Impulse” (IM) 4th wave in the range of 1.2541 – 1.3017 between October 29th and November 4tth. Market move above 1.3350 signals that move down is done and longer term move up has started.

Impulse is a five wave pattern, where three waves (#1,3,5) are impulsive in nature and two waves (# 2,4) are  corrective in nature.

Crude Oil forecast as of 10/28/2008

Crude oil market has currently two equally like scenarios:

A – Market is in the process of “Impulse” (IM) 5th wave in the range of 16.61 – 58.99 by November 11th. Market move above 76.00 makes scenario B more likely.

Impulse is a five wave pattern, where three waves (#1,3,5) are impulsive in nature and two waves (# 2,4) are  corrective in nature.

B – Market is in the process of “Zig-Zag” (ZZ) 2nd wave in the range of 80.40 – 106.30 between November 3rd and January 2nd 2009. Market move below 60 makes scenario A more likely.

Zig-Zag is a three wave pattern, where first and last wave are impulsive in nature and second wave is corrective in nature.

Gold forecast as of 10/28/2008

Market is in the process of “Flat” (FL) 2nd wave in the range of 667.71 – 794.53 in next month of two. Market move above 900.00 signals that FL 2nd wave is complete and 3rd wave has started.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

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