Technical summary: We are likely to watch four corrections in a small wave (we call it red wave iv). This small red wave iv should hold above support at 137.35 for a move higher to 139.12 and in the longer term even higher towards 142.05 and 144.03. Only an unexpected break below the top of […]
http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www.elliottwave.com/free_newsletters/free_newsletters-ind.aspx This economic indicator has stood the test of time — and it’s sending an ominous message. A 3½-year shelf of support has recently been broken. See two charts that tell you what you need to know now. Learn How the Wave Principle Can Improve Your Trading Related Posts:Technical Analysis – Gold unlocks fresh all-time […]
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Technical summary: We have seen a nice thrust out of the triangle and the first upside target at 1.6990 is already taken out. Now the focus is on the 1.7277 target. Short-term minor support at 1.6943 will be able to protect the downside for the next rally higher to strong resistance at 1.7277 form where […]
Technical summary: With a clear break above 137.35 and 137.80, the triangle count was invalidated. The much more bullish count is again back in the limelight. The break above 137.80 calls for a new rally higher towards 142.05 on the way higher to 144.03. Support is now found at 137.80 and again at the inverse […]
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Technical summary: We continue to look for a break above the triangle resistance line near 1.6790 for a rally higher towards 1.6995 and ideally higher to 1.7277 before the first impulsive rally from 138.60 is over and a larger correction should be expected. Minor support is now found at 1.6596 and will ideally protect the […]
Technical summary: We saw a break slightly above resistance at 137.35, but we still prefer the b-wave triangle scenario unfolding. It means a break below minor support at 135.53 and more importantly below support at 134.95 soon for a decline to 130.00 in wave c. However, a break above resistance at 137.80 will invalidate the […]
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Technical summary: We have changed our short-term count slightly as the latest price action has not been consistent with the our previous count. A new count shows that a wave (iv) triangle is unfolding and one more rally higher to 1.7277 should be seen before a larger correction will be unfolding. In the short term, […]
Technical summary: The triangle consolidation as well as renewed downside pressure for a thrust out of the triangle and a decline to 130.00 should be close to termination. The first sign that a downside thrust is taking place is a break below minor support at 135.53 that is also confirmed by a break below support […]
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Technical summary: We are still locked inside a very narrow consolidation-area between 1.6554 and 1.6791. We continue to look for an upside break for a continuation higher towards 1.6995 and 1.7277. Only a break below 1.6554 will delay the expected upside pressure closer to 1.6320 before moving higher again. Trading recommendation: We are long EUR […]
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Technical summary: There is no change in view. We are still looking for a breakout above 1.6826 for a continuation higher to 1.7277 as the next major upside target. Ideally, support at 1.6540 will continue to protect the downside for the breakout above 1.6826, but a break below 1.6540 is likely to delay the expected […]
Technical summary: We saw a break below important support at 135.49, which has changed the short-term count. The consolidation, which has been taking place since late July, is best described as a small triangle. This tells us that a b-wave and a c-wave can be still moving lower to 130.04. A break below the low […]
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Technical summary: We continue to look for upside acceleration towards 1.7277 as the next upside target. In the short term, we need a break above minor resistance at 1.6740 and of cause more importantly a break above resistance at 1.6826 confirming a rally higher to 1.6995 on the way towards 1.7277. Short-term support is found […]
Technical summary: EUR/JPY is testing support at 135.49 again. This support should be held for a new rally above minor resistance at 136.45, which will call for a new test of 137.35 and even 137.80. Only above the later, it will open up the upside for a continuation towards 141.06 and 144.03. There is still […]
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Technical summary: The flat correction in wave 2 is still unfolding and we could finally see a new low just below 1.6325 before this correction is over. A new rally towards 1.7277 is expected. In the short term, the final push lower can be seen as long as resistance at 1.6602 is able to protect […]
Technical summary: Strong resistance at 137.80 needs to be broken to clear the way for a rally higher to 141.06 and 144.03. As long as resistance at 137.80 holds firm, we will remain in a dead-lock situation between bulls and bears. Support is found at 135.49, which will ideally protect the downside for the break […]
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