Forex Market Commentary April 27th 2011

Forex Market Commentary—All JPY currency pairs are still on their wave 5 upward, seen best on the 4 hour time frame. EUR/USD and GBP/USD along with most other currency pairs have had a new break out to a wave 5 or wave 1 of a wave 5. USD/CHF and USD/CAD are in opposite correlated positions, but also breaking out. Watch for the completion of the consolidation as the New York Market opens. All currency pairs seem to be in a similar consolidation, but should continue their general trends soon.

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