Aud/Usd
The up-trend from 2001 low to 2012 high is currently in a lengthy consolidation. The larger trend is still bullish. Levels of interest are, 1.05/1.06 close to Falling Trend Line and Triangle Support close to 0.98/0.99.
Eur/Usd
The pair has been in a consolidation pattern since reaching the high in 2008. Consolidation is still in progress and could continue for some time. Levels of interest are, between 1.26/1.27, where Longs can be scaled in with a 1.50 target. I remain patiently bullish, for the rise from 1.20 to extend back towards 1.50.
Gbp/Usd
We are witnessing a complicated triangle pattern from the 2009 low. Current consolidation could be the 4th wave of the 5 wave downtrend from 2.116. Which would mean 1.35 is not the end of the downtrend. With this in mind, I favour a new low. However, the next fall, namely, wave 5, (the breach of 1.35) could be short, sharp & brief & I do not expect that to happen anytime soon.
Till then we could see prices drift upwards. Levels of interest are, 1.63/1.70 for now.
