Wave Analysis for Multiple Currency Pairs

The fibo-group submitted their wave analysis to my forex directory yesterday and it’s pretty interesting stuff.  Here’s an example of the commentary and respective chart for the Daily USD/CAD:

The pair reversed sharply, having broken the second critical level. No “Signal line” of the descending “Andrew’s pitchfork” degree Minor is broken. That’s why it is too early to talk about reversal. We see retracement. The depth of the retracement is seen as the “Reaction line 23,6%” of the “Andrew’s pitchfork” degree Intermediate, drawn from the last wave pivots of this wave degree. The pair forms pivot on this “Reaction line” in 80% of all cases.
This suppose is confirmed by the fact that this resistance level is marked by the “Upper signal line” of the descending “Andrew’s pitchfork” degree Minor.

You can check it all out at http://www.fibo-group.com/pages/505

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