GBP Intraday trading results as of 08/28/09

Crude Oil forecast as of 08/25/2009

QMV9 – As market has been moving up we now have to equally likely scenarios. Elliott shows that

A: market is in the process of “Zig-Zag” (ZZ) 2^nd wave in the range of 50.81- 64.86 between August 5^th and November 5^th;

or

B: market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th

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Market continuous move up makes scenario “B” more likely, market move below 65.00 makes scenario “A” more likely.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 08/25/2009

Gold –With the market trading in the range, Elliott shows now that market is in the process of  “Flat” (FL) 2^nd wave in the range of 973.86 – 1022.12 between September 9^th and December 23^rd.

Market move below  930 and consecutive follow through signals that last week’s FL 3^rd wave down is more likely.

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

British Pound forecast as of 08/25/2009

GBPUSD – Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 29^th .

Market move above 1.70 makes it more likely that ZZ 3^rd wave up has started.

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 08/25/2009

EURUSD – Although market has moved up in recent days, Elliott still shows that market is in the process of  “Double Zig-Zag” (DZ) 2^nd wave in the range of 1.3093 – 1.3846 between July 1^st and September 14^th .

Market move above 1.44 makes it more likely that DZ 3^rd wave has started.

* Click on chart to view larger image and print.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Crude Oil forecast as of 08/18/2009

QMU9 –Elliott continuously shows that market is in the process of “Flat” (FL) 2^nd wave in the range of 25.52 – 45.19 between September 11^th and January 5^th.

Correction to this down wave is in the box. If market continued aggressively up next week, we might be looking for a different pattern.

* Click on chart to view larger image and print.

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

Gold forecast as of 08/18/2009

Gold –Elliott shows that market is in the process of  “Flat” (FL) 3^rd wave in the range of 747.22 – 857.90 between September 29^th and January 8^th .

Market move above 975 might signal that this combination is not valid and the market is in the process of a wave up instead.

* Click on chart to view larger image and print.

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

British Pound forecast as of 08/18/2009

GBPUSD – Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2^nd wave in the range of 1.5059 – 1.6298 between September 11^th and December 29^th .

Market move above 1.70 makes it more likely that ZZ 3^rd wave up has started.

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 08/18/2009

EURUSD – Elliott shows that market is in the process of  “Double Zig-Zag” (DZ) 2^nd wave in the range of 1.3093 – 1.3846 between July 1^st and September 14^th .

Market move above 1.44 makes it more likely that DZ 3^rd wave has started.

* Click on chart to view larger image and print.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Crude Oil forecast as of 08/11/2009

QMU9 –Elliott continuously shows that market is in the process of “Flat” (FL) 2^nd wave in the range of 25.93 – 45.44 between August 31^st and December 3^rd .

Correction to this down wave is in the box. If market continued aggressively up next week, we might be looking for a different pattern.

* Click on chart to view larger image and print.

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