Originally Posted by christopher

Hi All,

Here's a featured Market Commentary based on John Crane's Reversal Date methods. A shorter-term look at the markets.

QUOTE:
SEPTEMBER JAPANESE YEN
The July 21-July 25 reaction swing suggests the Yen is still bullish into the August 10 reversal date. A break out of the recent consolidation should portend a rally up to 9010 or higher before the August 10 date. – Buy the Japanese yen at 8815 stop with a protective stop at 8725.

SEPTEMBER AUSTRALIAN DOLLAR
The August 2 high of 7677, was 6 points higher than the previous pivot high posted on July 28. The failure to continue higher, after this breakout, is a negative pattern that is typically followed by a sharp price decline. A trade below Friday’s low of 7580 is needed to confirm the bearish Peg-leg pattern. – Sell the Australian dollar at 7575 stop with a protective stop at 7682.

Enjoy!