AUD/USD Elliott Wave At the beginning of this week the AUD/USD pair has been trading sideways, corrective wave (iv) (coloured red) of the bigger wave 1 (coloured green) has been developing. Yesterday’s upward movements from 0.8331 towards 0.8957 level may ondocate that the corrective wave (iv) as a flat pattern. In the 1-hour chart we can see that […]
Today’s Support and Resistance levels: R3: 1.6924 R2: 1.6877 R1: 1.6807 Current Spot: 1.6789 S1: 1.6747 S2: 1.6674 S3: 1.6625 Technical summary: As we said yesterday a break below 1.6807 will force us to change our count slightly. A break below 1.6807 told us, that blue wave v of the expanding diagonal ended at 1.6996 […]
Today’s Support and Resistance levels: R3: 145.69 R2: 145.17 R3: 144.95 Current Spot: 144.72 S1: 144.55 S2: 144.37 S3: 143.85 Technical summary: Our expectation of a rally to 145.19 worked well, as we saw a top just 2 pips below at 145.17. We will now be looking for a break below minor support at […]
AUD/USD Elliott wave For the last few days, the AUD/USD pair is trading downwards, impulsive wave iii (coloured blue) of the bigger wave (v) (coloured red) has been developing. In the hourly chart above you can see that we have switched to our alternate count and we are counting descending movement from 0.8957 as final wave (v) […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading upwards, impulsive wave iii (coloured blue) of the bigger wave (c) (coloured red) has been developing. During the Friday’s sessions, we could observe strong ascending movements from 1.0618 towards 1.0717 level and in the chart above you can see that we are labeling this strong move as extended […]
Today’s Support and Resistance levels: R3: 1.7046 R2: 1.6996 R1: 1.6955 Current Spot: 1.6875 S1: 1.6856 S2: 1.6807 S3: 1.6748 Technical summary: The clear break above 1.6869 indicates that blue wave v of the expanded flat correction ended at 1.6807 and a new series of waves one’s and two’s is developing for the next powerful […]
Daily chart 8-hour chart Today’s Support and Resistance levels: R3: 146.96 R2: 145.69 R1: 145.19 Current Spot: 144.77 S1: 144.55 S2: 144.37 S3: 144.01 Technical summary: We saw an extended rally on Friday in a very thin Market with a high at 146.96, which could mark the top of wave v of 5. If […]
Today’s Support and Resistance levels: R3: 145.62 R2: 145.13 R1: 144.73 Current Spot: 144.49 S1: 144.24 S2: 143.61 S3: 143.29 Technical summary: Trying to pick the top has proven to be a hard nut to crack. However, the upside should be limited from here. We will likely not see more than 144.73 tested, but to […]
Today’s Support and Resistance levels: R3: 1.7007 R2: 1.6960 R1: 1.6873 Current Spot: 1.6839 S1: 1.6803 S2: 1.6748 S3: 1.6708 Technical summary: Resistance at 1.6869 has been tested (the high has been 1.6873). Look for a correction in green wave ii towards at least 1.6708. That said, if support at 1.6803 protects the downside for a […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, impulsive wave i (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the hourly chart above, we can observe that the upward move from 1.0580 (Monday’s low) towards 1.0650 was diagonal structure and we can consider this move as the […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. After a few days in a downward move from 0.8957, this major currency pair found support at 0.8875 yesterday during the late Asian session, and from there, […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6808 R1: 1.6766 Current Spot: 1.6761 S1: 1.6731 S2: 1.6681 S2: 1.6661 Technical summary: It finally seems as we are ready to challenge the upside for a test of resistance at 1.6869 to end the expanding diagonal. Once the target at 1.6869 is hit, we will look […]
Today’s Support and Resistance levels: R3: 143.92 R2: 143.57 R1: 143.46 Current spot: 143.38 S1: 143.00 S2: 142.46 S3: 141.86 – Important support. A break below here confirms the top. Technical summary: The target at 143.24 has been hit. An important top should be imminent. The first indication of the top being in place is […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has continued trading downwards, corrective wave b (coloured blue) of ht bigger wave (a) (coloured red) has been developing. Since Monday’s Asian session until now, we have been able to observe strong descending movements from 0.8958 towards 0.8880, that is taking corrective structure and we are can consider this […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading slightly upwards, corrective wave (c) (coloured red) of the bigger wave (y) (coloured green) has been developing. In the hourly chart above, we can observe that the downward move from 1.0736 towards 1.0580 was corrective and we can consider this move as the end […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6808 R1: 1.6739 Current Spot: 1.6692 S1: 1.6672 S2: 1.6630 S3: 1.6597 Technical summary: Nothing much is going on with this currency pair right now. We are still looking for a rally higher towards 1.6869 to end the leading diagonal. Once finished we should look for a […]
Today’s Support and Resistance levels: R3: 143.24 R2: 142.89 R1: 142.74 Current Spot: 142.60 S1: 142.42 S2: 142.14 S3: 141.86 – Important support – Break below indicates a top being in place. Technical summary: As resistance at 142.49 was broken we knew, that a new high above 142.89 is needed to finish this rally. Short […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading downwards, so we have adjusted our primary forecast to fit the latest market movements. On the hourly chart above, we can see that the short-term cycle from the 1.0560 level we can see a diagonal pattern and we are labeling the high […]
AUD/USD Elliott Wave From the start of this week the AUD/USD pair has been trading downwards, corrective b wave (coloured blue) of the bigger wave (a) (coloured red) has been developing. On the hourly chart we can see that cycle from 0.9756 should be over at the 0.8819 level in the five wave move. While the price […]
Today’s Support and Resistance levels: R3: 1.6808 R2: 1.6749 R1: 1.6708 Current Spot: 1.6665 S1: 1.6630 S2: 1.6597 S3: 1.6569 Technical summary: Not much is happening here. We are still looking for one last rally higher towards 1.6869 to finish the leading diagonal. In the long term we are looking for much higher levels, but […]
Today’s Support and Resistance levels: R3: 142.89 R2: 142.74 R1: 142.49 Current Spot: 142.36 S1: 142.25 S2: 141.86 S3: 141.41 Technical summary: Do we have an important top in place at 142.89 or are we just consolidating for one last rally higher towards 143.25? It is still an open question. No matter what the outcome […]
Today’s Support and Resistance levels: R3: 1.6756 R2: 1.6694 R1: 1.6659 Current Spot: 1.6626 S1: 1.6597 S2: 1.6569 S3: 1.6517 Technical summary: We are still looking for the final rally in blue wave v higher towards 1.6869 to end the leading diagonal. Once we have seen 1.6869 tested we should see a correction lower towards […]
Today’s Support and Resistance levels: R3: 143.24 R2: 142.89 R1: 142.59 Current Spot: 142.38 S1: 142.14 S2: 141.86 S3: 141.41 Technical summary: It is still an open question whether we have seen an important top at 142.89 or we need more upside action before the top is finally in place. To confirm, that we have […]
Today’s Support and Resistance levels: R3: 1.6808 R2: 1.6750 R1: 1.6706 Current Spot: 1.6693 S1: 1.6642 S2: 1.6608 S3: 1.6569 Technical summary: The FED desicion also produced a minor new high at 1.6807 here. The 1.6807 high was followed by a quick decline to 1.6569. That could have ended the leading diagonal, but it could […]
Today’s Support and Resistance levels: R3: 142.89 R2: 142.54 R1: 142.41 Current Spot: 142.14 S1: 141.67 S2: 141.27 S3: 140.91 Technical summary: FED was fiddling with the Market yesterday, which produced a short term hick up. However, as support at 140.91 stayed unbroken we knew, that the uptrend was still intact and FED’s hick up […]
Today’s support and resistance levels: R3: 1.6869 R2: 1.6779 R1: 1.6718 Current Spot: 1.6691 S1: 1.6666 S2: 1.6603 S2: 1.6556 Technical summary: Nothing new here. We are still looking for the last rally higher towards 1.6869 to finish the leading diagonal. After correction lower from 1.6869 towards 1.6556, a new impulsive rally higher towards 1.7239 […]
Today’s support and resistance levels: R3: 142.35 R2: 142.21 R1: 141.95 Current spot: 141.82 S1: 141.80 S2: 141.43 S3: 140.98 Technical summary: Important support at 140.91 is still unbroken, which keeps the underlying uptrend intact. However, we have seen a break below the support line from 134.10 adding confidence in an important top being in […]
Today’s Support and Resistance levels: R3: 142.83 R2: 142.42 R1: 142.12 Current Spot: 141.82 S1: 141.70 S2: 141.21 S3: 140.90 Technical summary: As we still have not seen a break below 140.91; therefore, it is still an open question whether we have an important top in place. As long as important support at 140.91 stays […]
Today’s Support and Resistance levels: R3: 1.6779 R2: 1.6718 R1: 1.6675 Current Spot: 1.6613 S1: 1.6581 S2: 1.6556 S3: 1.6516 Technical summary: We are still looking for the final rally towards 1.6869 to end the leading diagonal. Once it is finished, we should see a correction towards 1.6556, before a new powerful impulsive rally higher […]
Today’s Support and Resistance levels: R3: 1.6779 R2: 1.6708 R1: 1.6658 Current Spot: 1.6622 S1: 1.6590 S2: 1.6556 S3: 1.6516 Technical summary: We are still looking for the fianl rally in green wave v towards 1.6869 to end the leading diagonal. Once green wave v is in place we should see a correction towards 1.6556 […]
