Forex Market Commentary April 06th 2011

Forex market Commentary—The market appears, generally, that it is still in the B wave of the consolidation spoken of yesterday. ait appears to be continuing with the general trend, but be aware that this continuation may be simply until the conclusion of the B wave, then reversing to complete the C wave of the consolidating correction. Best pairs for trading are those that appear to be in a wave 3 of a 3 of a wave 5 in a continuing up-trend, the GBP/USD, GBP/JPY, USD/JPY, and the USD/CAD is in a B wave of a 4 of a wave 3 in a general down-trend, doing opposite the other pairs along with the USD/CHF which appears to be about to continue short on a wave 3 of a 5 of a wave 3.

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