Wave summary: We have seen a direct break above 1.6020 confirming that wave [ii] completed early and wave [iii] higher towards 1.6655 now should be developing. That said, we would like to see upside acceleration to confirm that we are indeed in wave [iii] of iii/ of iii higher. This means minor support seen at […]
Wave summary: The b-wave of the expanded flat moved slightly higher than anticipated, but it has not changed our outlook. We are now looking for wave c below 122.94 to complete wave B. This will set the stage for the next strong rally in wave C towards 138.52. Short term, we expect minor resistance seen […]
Wave summary: The wave [ii] correction from 1.5941 could have completed early at 1.5803 and wave [iii] higher is now developing. For this outlook to be true, we need an impulsive break above resistance seen at 1.6020 soon. Otherwise, this more complex correction in wave [ii] will be expected for a move closer to 1.5723 […]
Wave summary: The break directly above 124.54 invalidated the triangle option, but we doubt that this break is the start of a new impulsive rally, but rather part of an expanded flat correction which is still calling for renewed downside pressure soon to below 122.94 to complete the correction in wave B. Short term, a […]
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Wave summary: The corrective decline in wave [ii] could have completed with the test of 1.5796 and if this is the case, then we should soon seen a strong rally beyond 1.6020 towards 1.6655. That said, we have to take into consideration that the correction in wave [ii] will need a little longer to unfold […]
Wave summary: EUR/JPY failed to move below minor support seen at 123.29, which indicates that a triangle consolidation could be unfolding as wave B. If this is the case, then we should see a move slightly higher to 124.25 before a final decline in wave e of B to near 123.46 from where the next […]
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Wave summary: We would like to see a slightly deeper correction in wave [ii] closer to 1.5764 and maybe even down to 1.5722 before the next impulsive rally towards 1.6655. That said, we need to be aware that the minimum target for the correction in wave [ii] has been reached and a direct rally higher […]
Wave summary: We continue to look for more correction higher towards the ideal target seen at 122.33 before renewed upside pressure towards 138.52 should be expected in wave C. That said, there are still more possible corrective paths that this correction still could take from here, so we will have to stay flexible at this […]
Mark Galasiewski, the editor of our Asian-Pacific Financial Forecast and contributor to Global Market Perspective, tells you what to make of the recent price action in Australia, Korea and Japan. Get more financial insights like these — 100% free. Just follow this link: http://www.elliottwave.com/wave/etv2016. Learn How the Wave Principle Can Improve Your Trading Related Posts:Technical […]
Wave summary: We have seen the expected decline closer to 1.5645 (the low came in at 1.5588) before a strong recovery was seen. We will now be looking for a break above 1.6020 as confirmation that the next impulsive rally higher towards 1.6655 is developing. Short-term, we should see support in the 1.5726 – 1.5764 […]
Wave summary: We continue to look for a deeper correction in wave B and continue to expect a decline closer to 122.94 and ideally closer to 122.33 before we will start to look for renewed upside pressure. Short term, a break below minor support seen at 124.06 will indicate more downside to 123.45 and 122.94 […]
Wave summary: We continue to look for a little more downside closer to 1.5645 to complete wave ii/ and set the stage for the next impulsive rally in wave iii/ to at least 1.6655. Short term, we expect minor resistance at 1.5861 to be able to cap the upside for the test of 1.5645. Longer […]
Wave summary: With the break above resistance seen at 124.02, the correction in wave B shifted to a flat correction instead of a double zig-zag correction as originally expected. This indicates yet another decline towards at least 122.94 in wave c of B and likely just below 122.94 to complete this correction and set the […]
Wave summary: As expected, the corrective decline from 1.6020 is extending and should be able to reach support seen at 1.5644 before completing and setting the stage for the next impulsive rally higher towards at least 1.6655, and much higher levels towards 1.7196 and 1.7564 should be expected in the longer term. However, at first […]
Wave summary: The corrective decline in wave B is unfolding as expected. We should now see minor resistance at 124.02 protecting the upside for the next decline to the 120.69 target. This will likely complete wave B and set the stage for a new impulsive rally in wave C. That said, we need to allow […]
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Wave summary: The failure to extend the rally beyond 1.6020 does imply that an alternate count is unfolding. This count is even more bullish than our previous count, but it does call for a set-back to 1.5644 before higher again. If this count is correct that will most likely propel us right through resistance at […]
Wave summary: The extension has pushed EUR/JPY higher as expected, but not only to 124.06, but slightly higher to 124.30 before prices turned lower. The following break back below minor support at 123.60 indicates that wave A has just peaked and wave B is unfolding. The minimum target to expect in wave B is seen […]
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Wave summary: The corrective low for wave [iv] was seen at 1.5645 and wave [v] higher is now unfolding. This rally should be able to rally towards minimum 1.6172 and ideally, will extend higher towards 1.6500 and 1.6655 to complete wave iii. If, however, EUR/NZD fails to clear resistance at 1.6172 it will indicate that […]
Wave summary: EUR/JPY has just hit and slightly exceeded the ideal 123.21 target, this indicates a possible extension closer to 124.06 before the rally in wave A is complete. That said, it should be a matter of time before the top is in place and a corrective decline in wave B towards 120.30 and maybe […]
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Wave summary: We continue to look for an extension in wave [iv] closer to 1.5554 before completing this correction and pushing prices higher towards the 1.6655 target. Only a direct break above resistance at 1.5940 will confirm that wave [iv] has been already completed with the test of 1.5644 and wave [v] higher, which is […]
Wave summary: EUR/JPY keeps pushing higher towards the expected wave A target at 123.21, from where a corrective decline in wave B towards at least 120.00 is expected. The corrective decline in wave B can push lower towards 119.01, but time will show. Keep looking higher for a test of 123.21 against minor support at […]
Wave summary; The correction in wave [iv] is likely to be extending now, which means we are likely to see a small bounce towards 1.5865 before the final decline towards 1.5541 to complete wave [iv] and setting the stage for the next impulsive rally in wave [v] with an ideal target seen at 1.6655. R3: […]
Wave summary: The rally from 114.82 in wave A is close to exhaustion. As long as minor support at 121.98 is able to protect the downside, we could still see a final spike higher to the ideal 123.21 target, but it’s only a matter of time before wave A completes and wave B lower towards […]
