USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading in an uptrend, corrective wave (a) (coloured green) of the bigger wave [c] (coloured black) has been developing. In the 1-hour chart of the pair, we can see that the ascending move from the 1.1052 level has already showed us five waves, […]
Today’s Support and Resistance levels: R3: 1.6567 R2: 1.6520 R1: 1.6462 Current spot: 1.6448 S1: 1.6413 S2: 1.6342 S3: 1.6305 Technical summary: The failure to break above resistance at 1.6538 has kept the wave 2 correction alive and we have seen a continuation lower towards 1.6428. The break below minor support at 1.6445 has opened […]
Today’s Support and Resistance levels: R3: 140.98 R2: 140.78 R1: 140.29 Current spot: 140.09 S1: 139.87 S2: 139.65 S3: 139.18 Technical summary: Over the last couple of days the expected pattern has changed into a possible larger triangle, where we have seen the first three waves and it is currently working on the d wave […]
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USD/CAD Elliott Wave The USD/CAD pair has been trading upwards after the wave [b] (coloured black) completed the down cycle from 1.1193 yesterday at the 1.1048 level. In the 1-hour chart of the pair, we can see that we are tracking this short-term uptrend as sub-waves i and ii (coloured black) of the the bigger […]
Today’s Support and Resistance levels: R3: 1.6567 R2: 1.6538 R1: 1.6498 Current spot: 1.6477 S1: 1.6460 S2: 1.6445 S3: 1.6410 Technical summary: The failure to break clearly above 1.6509 keeps the 1.6445 target alive. Short-term minor resistance at 1.6498 should protect the upside for the last decline towards the 1.6445 target to end wave 2 […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has continued trading upwards, that is why we have adjusted our primary elliott wave count, and we are now looking at the corrective wave B (coloured blue) as the double three correction instead of simple A-B-C pattern. In the 1-hour chart of the AUD/USD pair […]
Today’s Support and Resistance levels: R3: 141.87 R2: 141.29 R1: 140.83 Current spot: 140.62 S1: 140.37 S2: 140.13 S3: 139.74 Technical summary: The minor triangle broke towards the downside for a test of support at 140.13 before renewed upside pressure emerged. Besides the small detour has changed nothing, and we are still looking for a […]
AUD/USD Elliott Wave For the last few days, the AUD/USD pair has been trading upwards, corrective wave [b] (coloured black) of the bigger wave B (coloured blue) has been developing. In the 1-hour chart of the pair, we can see that we have completed the first three swings of the B wave at the 0.8933 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, just like we expected, corrective wave [b] (coloured black) of the bigger wave A (coloured blue) has been developing. In the chart above, we can see that we are counting desceding movements from the 1.1194 towards 1.1050 as the (a)-(b)-(c) of […]
Today’s Support and Resistance levels: R3: 1.6624 R2: 1.6558 R1: 1.6509 Current Spot: 1.6488 S1: 1.6467 S2: 1.6445 S3: 1.6410 Technical summary: As expected, the c-wave decline towards the ideal target at 1.6445 has been seen. With a low at 1.6460 the bottom could be in place, but to confirm that a break above minor […]
Today’s Support and Resistance levels: R3:141.87 R2: 141.29 R1: 141.04 Current Spot: 140.67 S1: 140.30 S2: 139.59 S3: 139.59 Technical summary: Over the last couple of days, a minor b-wave triangle has been unfolding locking the price action into an ever more narrowing range. However, the triangle is likely to be close to terminating and […]
Today’s Support and Resistance levels: R3: 1.6725 R2: 1.6673 R1: 1.6624 Current spot: 1.6588 S1: 1.6558 S2: 1.6496 S2: 1.6445 Technical summary: The wave 2 correction we are looking for is still unfolding. In the short term we expect minor resistance at 1.6624 to protect the upside for one more impulsive decline in wave c […]
Today’s Support and Resistance levels: R3: 141.87 R2: 141.29 R1: 141.04 Current spot: 140.69 S1: 140.30 S2: 139.99 S3: 139.59 Technical summary: We are still looking for the ongoing correction to hit resistance at 142.26 to end the X wave that began at 136.23. Once this X wave is finished, we should see renewed downside […]
AUD/USD Elliott Wave analysisThe AUD/USD pair has continued trading in a choppy sideways movements yesterday, corrective wave [b] (coloured black) of the bigger wave B (coloured blue) has been developing. In the 1-hour chart above, we can see the Triangle pattern developing from the 0.8935 level. As long as the price stays below the 0.9030 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued upwards movements, wave (iii)/(c) (coloured green) of the bigger wave [a] (coloured black) has been developing. In the 1-hour chart above, we can see that wave (ii)/(b) (coloured green) has completed short down cycle from 1.1092 at 1.1059 level. At the moment, we […]
Today’s Support and Resistance levels: R3: 1.6747 R2: 1.6673 R1: 1.6578 Current Spot: 1.6505 S1: 1.6477 S2: 1.6412 S3: 1.6342 Technical summary: The wave 1 ended little earlier than we expected. Wave v became equal in length to wave v, which is a common relationship. With the break below 1.6574 we knew that the wave […]
Today’s Support and Resistance levels: R3: 141.87 R2: 141.26 R1: 140.87 Current Spot: 140.60 S1: 140.20 S2: 139.99 S3: 139.80 Technical summary: Important support at 138.95 protected the downside and has kept the correction from 136.23 alive and we should still be looking for a rally higher towards 142.26. In the short term we are […]
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USD/CAD Elliott Wave After two weeks of trading in the strong downtrend, the USD/CAD pair found support yesterday at the 1.0905 level, and we can currently see the price trading around the 1.1070/80 area. In the 1-hour chart of the pair, we can see that upper channel line has been broken after an ascending move […]
AUD/USD Elliott Wave For the last couple of days, the AUD/USD pair has been trading downwards, we looked first at this pullback as the FLAT correction inside the (ii) wave, but since our short term invalidation gave up according to our rules, we have slightly adjusted our primary elliott wave count for the pair. In […]
Today’s Support and Resistance levels: R3: 1.6748 R2: 1.6713 R1: 1.6670 Current spot: 1.6629 S1: 1.6618 S2: 1.6574 S3: 1.6523 Technical summary: We now have a five wave rally from the 1.6252 low and a correction can evolve any time now. That said, we do expect the fifth wave to reach 1.6713, before the correction […]
Today’s Support and Resistance levels: R3: 140.88 R2: 140.63 R1: 140.42 Current spot: 140.10 S1: 140.00 S2: 139.49 S3: 138.95 Technical summary: The corrective cycle we were looking for is still unfolding and we expect support at 140.00 and more importantly at 139.49 will protect the downside for the last rally higher towards 142.41 before […]
Today’s Support and Resistance levels: R3: 1.6663 R2: 1.6620 R1: 1.6567 Current spot: 1.6539 S1: 1.6514 S2: 1.6484 S3: 1.6454 Technical summary: Wave iii did end just 10 small pips before the ideal extension target at 1.6630. We are now looking for a small wave iv correction towards the 1.6485 – 1.6514 area before the […]
Today’s Support and Resistance levels: R3: 142.41 R2: 141.87 R1: 141.26 Current spot: 140.57 S1: 140.26 S2: 139.95 S3: 139.49 Technical summary: After a small correction towards 140.26, we should see more upside action towards the ideal target at 142.41 to finish the x-wave and setting the stage for the next decline lower towards 126.03 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, impulsive wave (iii) (coloured green) of the bigger wave [c] (coloured black) has been developing. In the 1-hour chart of the pair above, we can see that we are tracking impulsive wave (iii) since 1.0991, at the moment only sub-waves i […]
AUD/USD Elliott Wave The AUD/USD pair has continued trading downwards, corrective wave [ii] (coloured black) of the bigger wave C (coloured blue) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that wave [ii] is taking a form of the FLAT correction and while the price stays above the low […]
Today’s Support and Resistance levels: R3: 1.6578 R2: 1.6525 R1: 1.6459 Current spot: 1.6430 S1: 1.6405 S2: 1.6359 S3: 1.6305 Technical summary: We have finally broken above resistance at 1.6430 and should see an acceleration higher towards 1.6525 and higher towards 1.6787. In the short term, we will ideally see the former resistance at 1.6430 […]
Today’s Support and Resistance levels: R3: 141.63 R2: 141.23 R1:140.98 Current spot: 140.71 S1: 140.53 S2: 140.33 S3: 140.17 Technical summary: The break above resistance at 140.07 indicated that we shall look for a rally towards at least 142.40, where wave c will be equal in length to wave a, but we could see wave […]
Today’s Support and Resistance levels: R3: 140.07 R2: 139.69 R1: 139.42 Current spot: 139.31 S1: 138.95 S2: 138.68 S3: 138.17 Technical summary: The price behavior is still not convincing, but as we approach the decision point we will soon see a clarification, whether we shall see an impulsive red wave (iii) decline or whether we […]
