Forex Market Commentary April 01st 2011

Forex Market Commentary—Most currency pairs are in a C wave correction, but with an anticipated reversal with their general trend coming soon.  The GBP/USD may already have begun a five wave sequence down, but we are waiting for confirmation to see if it will remain correlated with the EUR/USD which is still in a general up-trend, now in a wave B of a 4 of a 3 or in the wave 5 of the 3 of a wave 5.  JPY currency pairs continue to break above previous highs, with exceptions of the USD/JPY, GBP/JPY and NZD/JPY, and the AUD/USD and NZD/USD continue their wave 5 of 5 general up-trend.

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