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 […]
AUD/USD Elliott Wave Last week, the AUD/USD pair traded upwards, impulsive wave [i] (coloured black) of the bigger wave C (coloured blue) developed. In the 1-hour chart above, we can see that the price is pushing aggressively higher after the pair found support at the 0.8925 level, the end of the blue B wave. Impulsive […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading lower, final wave [c] (coloured black) of the bigger wave Y (coloured blue) has been developing. We can see in the 1-hour chart above, that we are inside the impulsive (iii) wave (coloured green) of the bigger wave [c] (coloured black) and […]
Today’s Support and Resistance levels: R3: 140.30 R2: 140.07 R1: 139.99 Current spot: 139.45 S1: 139.21 S2: 138.88 S3: 138.17 Technical summary: We are still not impressed with the wave behavior, but we are getting close to an important decision point, which will determine whether we are looking at red wave (iii) lower towards 132.13. […]
Today’s Support and Resistance levels: R3: 1.6525 R2: 1.6477 R1: 1.6430 Current spot: 1.6370 S1: 1.6350 S2: 1.6305 S3: 1.6253 Technical summary: I’m still looking for support at 1.6350 to protect the downside for a break above resistance at 1.6430 confirming a move higher towards 1.6525 and a break here will confirm that wave E […]
Last fall, the editor of Elliott Wave International’s Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market. What is a triangle? It’s a corrective pattern, meaning that it moves in the […]
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USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, since our invalidation is reached we have moved our wave count to alternate scenario. In the 1-hour chart of the USD/CAD pair, we can see that we are tracking descending movement from the 1.1222 level as the double three correction […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading downwards, impulsive wave [i] (coloured black) of the bigger wave A (coloured blue) has been developing. In the 1-hour chart, we can see that a cycle from the 0.8658 level has already shown us five waves higher, and this just confirms that […]
Today’s Support and Resistance Levels: R3: 1.6525 R2: 1.6460 R1: 1.6430 Current Spot: 1.6388 S1: 1.6351 S2: 1.6299 S3: 1.6253 Technical Summary: We do think the triangle X-wave ended with the test of 1.6253, but we do need more evidence in form of a break above resistance at 1.6525. Short-term break above resistance at 1.6388 […]
Today’s Support and Resistance levels: R3: 140.24 R2: 139.89 R1: 139.66 Current Spot: 139.08 S1: 138.88 S2: 138.17 S3: 137.54 Technical Summary: The decline from 140.30 is not the ideal fit that we would like, but we will give the downside the benefit of the doubt and look for more downside pressure as long as […]
Today’s Support and Resistance levels: R3: 1.6476 R2: 1.6419 R1: 1.6348 Cureent spot: 1.6309 S1: 1.6287 S2: 1.6238 S3: 1.6214 Technical summary: The break below support at 1.6344 indicates that a more complex correction is unfolding, than we expected. Wave E is allowed to decline to support at 1.6214 but it can not break below […]
Today’s Support and Resistance levels: R3: 140.54 R2: 140.30 R1: 139.93 Current spot: 139.78 S1: 139.28 S2: 138.72 S3: 138.17 Technical summary: Support at 139.50 did protect the downside for one last rally higher towards 140.30 (just 5 small pips above our 140.25 target). We are now looking for a break below support at 139.28 […]
USD/CAD Elliott Wave The USD/CAD pair found resistance yesterday, and we see some downward movements in the b wave (coloured blue) of the bigger wave (a) (coloured red) that is currently developing. In the 1-hour chart, we can see that corrective wave b (coloured blue) has completed developing at 1.1091 and from there we are […]
AUD/USD Elliott Wave Yesterday, the AUD/USD pair has continued trading upwards, just like we expected, impulsive wave (v)/(iii) (coloured black) of the bigger wave [i] (coloured green) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that we are currently in the final wave v of (v) that is taking […]
Today’s Support and Resistance levels: R3: 1.6550 R2: 1.6527 R1: 1.6485 Current spot 1.6455 S1: 1.6390 S2: 1.6344 S3: 1.6310 Technical summary: There has been range trading between 1.6417 and 1.6527 since yesterday without much indication of the next direction. However, we still think that a break towards the upside is most likely and will […]
Today’s Support and Resistance levels: R3: 141.26 R2: 140.54 R1: 140.03 Current spot: 139.68 S1: 139.17 S2: 138.72 S3: 138.17 Technical summary: The rally from 136.23 extended and has forced us to change the short term count. Our new preferred count shows that a series of waves i-ii is developing. If this count is correct […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading upwards, just like we expected, corrective wave a (coloured blue) of the bigger wave [z] (coloured green) has been developing. In the 1-hour chart of the USD/CAD pair, we can see that the price has break above the upper trend line yesterday […]
AUD/USD Elliott Wave The AUD/USD pair has started this week higher, impulsive wave (v) (coloured black) of the bigger wave [i] (coloured green) has been developing. Yesterday, at the early London session, we could observe strong ascending movements from the 0.8900 level that we labeled as the end of the (v) wave. Wave [i] should […]
The DJIA, S&P and NASDAQ are struggling to bounce. Yet the bullish convictions remain high. Says a February 5 Investor’s Business Daily headline: “Why Mutual Fund Investors Need Not Panic After January Sell-Off” When is the best time to get out of the stock market? When everyone else is invested and extremely optimistic. When is […]
The major stock indexes started 2014 with losses of 5-7%. Many analysts say this is just a reaction to emerging markets’ weakness and that the U.S. economy is getting stronger. Don’t panic, in other words. But is this truly the case? Robert Prechter, president of Elliott Wave International, has released a new free report that […]
When the financial media mentions the late 1920s, they usually mean the 1929 stock market top. But today’s investors can also learn from what happened in 1928. That was the year that the bond market topped, while commodities peaked even sooner. You can see this for yourself in a chart published in the September 2013 […]
EWI’s president Bob Prechter has been warning about the safety of the U.S. banking system for a while. Enjoy this excerpt from a new article by Terry Burnham, a former Harvard economics professor, author of “Mean Genes” and “Mean Markets and Lizard Brains”, who spoke at last year’s Socionomics Summit in Atlanta. Mr. Burnham’s article […]
Today’s Support and Resistance levels: R3: 1.6613 R2: 1.6547 R1: 1.6501 Current Spot: 1.6466 S1: 1.6426 S2: 1.6408 S3: 1.6395 Technical summary: With the break below support at 1.6469 (the top of wave i), we have been forced to adopt the alternate triangle count as our preferred count. It shows a major X-wave triangle, which […]
Today’s Support and Resistance levels: R3: 137.93 R2: 137.65 R1: 137.18 Current Spot: 136.82 S1: 136.09 S2: 135.36 S3: 134.77 Technical summary: As expected, we saw a correction from the 136.22 low. The expected correction could have terminated slightly before our second target at 137.65 (the top came in at 137.54). We are now ready […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downward, just like we expected, corrective wave (c) (coloured red) of the bigger wave [x] (coloured green) has been developing. In the 1-hour chart of the USD/CAD pair, we can observe that price has stayed below the 1.1123 level all time and while […]
USD/CAD Elliott Wave Last week, the USD/CAD pair found the top at the 1.1220 level. From there on, this commodity pair has been trading lower, just as we expected. In the 1-hour chart of the USD/CAD pair, we can observe that we are tracking descending movements from 1.1220 towards 1.070 as potential A-B-C pattern inside […]
AUD/USD Elliott Wave The AUD/USD pair has been trading downward for more than a year, we are approaching some critical areas for long term trading at the moment and that’s why we want to look for some long term trade in this pair today. In the 1-week chart, we can see that from the high […]
Today’s Support and Resistance levels: R3: 1.6723 R2: 1.6702 R1: 1.6683 Current Spot: 1.6638 S1: 1.6600 S2: 1.6577 S3: 1.6512 Technical summary: After reviewing our count, we have moved wave iii higher to 1.6787. The reason is that the sub-wave four of iii was a running triangle and then we saw the wave five of […]
Today’s Support and Resistance levels: R3: 138.09 R2: 137.65 R1: 137.10 Current Spot: 136.72 S1: 136.18 S2: 135.81 S3: 135.33 Technical summary: With the break below the base channel support line we have seen the expected acceleration lower. Blue wave (iii) has extended slightly further than we first expected and has reached a low of […]
