FX:EURJPY   Euro / Japanese Yen
I release a Weekly Wrapup & Update every week to all my subscribers on my website. I am re-posting it here but in a limited form due to posting restrictions. If you want to see the COMPLETE post, you are welcome to get it from my website. I am also splitting this post in parts as it is too long to post in one post. So this is Part III             of this post. Look for Part 1 & 2 if you have interest in seeing the rest of it. If you want the complete post including more detailed 4HR charts, please go to my website to get it. Weekly Updates are free. Keep in mind that these updates ARE NOT my full analysis and are just my opinion as to the short term direction of prices.

It is making a bottom here and may still drop a little more but it is currently in the "overthrow" of the leg E of an ED. And within that larger ED, it is finishing a smaller ED. When all this is done, we will see a HUGE reversal take place.

What we could've seen happen in the past weeks was the completion of a truncated wave 5 to complete the larger wave (A). That truncated wave 5 may have ended with the completion of a wave (v) ED. And last week's breakout of that long sideways pattern could be just the start of a large upswing. We'll look for prices to drop back down off the rejection of that upper TL of the ED and then for it to turn around and retest and then break that TL.
What is apparently happening here is that prices are trading within a range which is a bear flag for a continuation lower. Probably will make another small move back up and then head down to breakout of that flag and head lower to complete the wave (v) and the overall wave B. After which, we should see a HUGE rally back up.
We saw oil             hit the $50 level in the past week. And then it withdrew from there as expected. But then it broke through and hit the $51 level. And then got rejected and is now headed lower. BUT...what I see is a REAL possibility is that this rejection off the $51 level was only temporary and that we are going to see oil             rise up and possibly head towards the $60 level soon. We'll be looking for signs that this small drop is ending and looking to BUY again. But we'll need to be careful as it can't be ignored that prices have broken the MAJOR uptrend TL and that could have signaled the end of this uptrend.
Last week, this pair continued to drop off the highs in what should be the wave a of a larger wave (b). We should be seeing a bounce pretty soon from the completion of this small wave a into the wave b of (b). And then another large drop down in the wave c of (b).
XAUUSD ( Gold             )
Gold             is now still within a correction in what should be the wave 4. It dropped off the highs from the wave 3 ending in what should be the wave (a) of 4. Since the lows of that wave (a), prices have moved back up in what should be the wave A of the larger wave (b) of 4. From here I am expecting prices to retreat back down in the wave B of (b).
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Any thoughts on the NZDUSD pair?
Please read my post thoroughly! I have posted this update in 3 parts. Read the other parts.
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