Wave summary: We continue to look for more upside progress after a minor consolidation between 123.50 and 124.15 with the next minor upside target to look for seen at 124.65, and above here the important short-term resistance at 126.47 will be the target. To confirm that a long-term bottom has been seen, as we expect, […]
Wave summary: The consolidation below the short-term important resistance at 1.6689 was more prolonged than it had been expected. It has not changed our view that a break above this short-term resistance soon will be seen as a continuation towards 1.6931 and 1.7223 on the way to the next major upside target at 1.8420. In […]
Wave summary: With a low seen at 122.19 (just 7 pips from the ideal downside target at 122.12) followed by a clear break above minor resistance at 123.12, wave [ii] was completed and wave [iii] moved higher towards at least 127.34. Short-term support is now at 123.12 with back-up support formed at 122.75, but we […]
In this new interview, our Chief Energy Analyst, Steve Craig, explains that although eyes are on the upcoming OPEC meeting, market psychology is what really makes crude prices ebb and flow. Learn more: http://www.elliottwave.com/wave/EnergyPS Learn How the Wave Principle Can Improve Your Trading Related Posts:EUR/USD. April 12th. ECB meeting: confidence in rate cut… April 12, […]
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Wave summary: We are still looking for a break above minor resistance at 1.6715 to confirm that a corrective low is in place at 1.6424 and a new impulsive rally to 1.6931 and 1.7223 is developing on the way higher to the 1.8420 target. However, as long as minor resistance at 1.6715 is able to […]
Wave summary: We are still looking for a break above the resistance at 123.12 to confirm that a corrective low was seen at 122.23 and a new impulsive rally to 124.65 and above is developing. Short-term support is seen at 122.57, which ideally will be able to protect the downside for the break above 123.12. […]
Jim Martens, our Currency Pro Service editor, gives you his take on whether or not the June 23 Brexit vote will determine the trend in the British Pound, GBPUSD. Note: this is part one of a 6-minute interview with Jim. The full interview is available for Currency Pro Service subscribers. Learn more: http://www.elliottwave.com/wave/Martens Learn How […]
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Wave summary: Despite the rally to 1.6715 another decline has been seen to a low of 1.6424 from where a new rally took place. As can be seen from the daily chart below, the correction from 1.6897 has been glued to the former resistance line that now acts as support. Once yesterday’s high at 1.6715 […]
Wave summary: Of course, we needed a false rally followed by the expected decline closer to our ideal target at 122.12 (the low seen till now has been 122.23), with a low at 122.23 our corrective target has been fulfilled and the next impulsive rally can take hold any time now. A break above yesterdays […]
Wave summary: What a scary decline from yesterdays high at 1.6715. This is a classic deep wave two correction, which are allowed to correct 100% of the first impulsive move, but it can never ever break below the starting point at 1.6434. In the short term, we are looking for a break above minor resistance […]
Wave summary: The sideways consolidation in the 122.30 – 122.80 area has been prolonged, but we still expect one more spike lower to the ideal target near 122.12 before the correction from 124.35 is over and a new impulsive rally towards 126.47 and above should be expected. In the short term, a break below minor […]
Wave summary: With a low seen at 1.6434 followed by a strong rally above the resistance-line near 1.6590 red wave [ii] clearly is over and red wave [iii] higher towards 1.6988 and likely even higher to 1.7273 is expected. Short term, support is now seen at 1.6640 with back-up support seen at 1.6603, but we […]
Wave summary: We have seen the expected decline towards the ideal 122.12 target for wave [ii] from where a new strong rally higher to above 124.05 and more importantly above resistance at 124.65 should be seen confirming a strong test of important resistance at 126.47, which is the pivot point between the bearish or the […]
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Wave summary: The break below 1.6479 has invalidate the previous count. The new count has moved red wave [i] up to 1.6931 and the ongoing correction is red wave [ii], which is expected to terminate in the support area between 1.6353 – 1.6411 from where a new impulsive rally to above 1.6931 is foreseen. Short-term […]
Wave summary: The failure to break above resistance at 124.18 indicates that the correction in wave [ii] is still unfolding as a complex double zig-zag. This also means that the “old” 122.10 target has been revived. Once this target has been tested, a new impulsive rally to above 126.43 should be expected. Short-term minor resistance […]
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Wave summary: EUR/NZD, as has been the case for EUR/JPY, failed to rally after the break above minor resistance at 1.6675. This has prolonged the corrective decline from 1.6931, but as long as important short-term support at 1.6479 is able to protect the downside, the upside will remain in focus. To ease the current corrective […]
Wave summary: EUR/JPY failed to rally after the break above minor resistance at 123.64 indicating that a more prolonged zig-zag correction in red wave [ii] was unfolding. We are still expecting support at 122.61 will be able to protect the downside for a break above minor resistance at 123.78 confirming the next rally higher to […]
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Chris Carolan, editor of our European Short Term Update and Asian-Pacific Short Term Update, shows you why today, it’s important to keep your eye on emerging market equities and foreign exchange. Watch this new interview to learn why EM markets are a “useful barometer.” Learn more: http://www.elliottwave.com/r.asp?rcn=ytvideos1503&url=http://www.elliottwave.com/Asian-Markets/Why-You-Should-Pay-Attention-to-Emerging-Markets-Now Learn How the Wave Principle Can Improve Your […]
Wave summary: With the break above minor resistance at 1.5582, the first minor signal of a bottom being in place at 1.6538 has been given. We will now be looking for a clear break above minor resistance at 1.6704 as the next trigger for a rally to 1.6931 and higher to 1.7254 as the next […]
Wave summary: It should be just a matter of time before a new strong rally to 124.65 and higher towards 126.47 is seen. We still need a break above the important resistance at 126.47 to confirm that a long-term corrective bottom is in place at 121.46, but once this resistance is cleared, and we do […]
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Wave summary: With a low at 1.6538, we are now looking for a break above the minor resistance line near 1.6675 to confirm that the correction from 1.6931 is over and a new impulsive rally towards 1.7254 is developing. In the short term, we expect that minor support at 1.6586 and, more importantly, support at […]
Wave summary: With a low at 122.93 or exactly the 78.6% correction of red wave [i], we expect red wave [ii] will be in place for the next impulsive rally above minor resistance at 123.55 and, more importantly, above resistance at 124.18 confirming a continuation higher towards 125.78 and above. The low at 122.93 should […]
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Wave summary: Blue wave ii is becoming more complex that first anticipated, as blue wave ii has turned into a double zig-zag correction. The important short-term support at 1.6479 still needs to protect the downside to keep this count as the preferred count. In the short term, we are looking for a break above the […]
