Thursday, 26 April 2012

CAC bearish...GBP bullish

 A longer term chart of CAC is my choice for posting today. DAX and Eurostoxx are in the same category and wave level as with CAC. The index has finished 5 waves down from March highs. Taking into consideration the whole move from September, the form does not look impulsive. Italy and Spain have a much worse technical and wave picture. So will US follow Europe or will it help european indices recover????

GBPUSD as posted some time ago looked  bullish to me and I just renewed the wave counts I believe are most probable in this pair.

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