AUD/USD Elliott Wave The AUD/USD pair has continued to trade downwards on Monday, since our primary count reached invalidation level, we have moved to first alternate view for now. In the 1-hour chart of the pair, we can observe that we are labeling descending movement from the 0.9460 level as the double three pattern (7-swings), […]
Today’s Support and Resistance levels: R3: 143.20 R2: 142.73 R1: 142.47 Current spot: 142.38 S1: 141.98 S2: 141.68 S3: 140.99 Technical summary: The break above resistance at 141.99 has changed our short term count slightly. Instead of red wave ii being in place at 142.00 it has extended towards the 70.7% corrective target at 142.47. […]
Today’s Support and Resistance levels: R3: 1.6438 R2: 1.6363 R1: 1.6322 Current spot: 1.6264 S1: 1.6201 S2: 1.6151 S3: 1.6097 Technical summary: The break above resistance at 1.6180 is a game changer. The triangle scenario is clearly invalidated and it is now a question whether we saw an important bottom at 1.5766 or not. If […]
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U.S. home prices peaked in 2006, then fell into the deepest crater since 1933. The subprime mortgage meltdown was a sudden shock and real estate’s decline was swift. This chart suggests that the housing market now faces an even bigger crater http://bit.ly/1ndsQqT Enjoy this video from Elliott Wave International Learn How the Wave Principle Can […]
AUD/USD Elliott Wave For the last couple of days, the AUD/USD pair has been trading downwards, corrective wave [iv] (coloured green) of the bigger wave C (coloured red) has been developing. In the 60-minutes charts above, we can observe that down cycle from the 0.9461 level is over at 0.9247, and from there the price […]
USD/CAD Elliott Wave From the start of April, the USD/CAD pair has been trading steadly upwards, corrective wave [a] (coloured green) of the bigger wave Z (coloured red) has been developing. In the 1-hour chart of the pair above, we can observe that (c) of [a] wave have finished at the 1.1053 level, and from […]
Today’s Support and Resistance levels: R3: 1.6232 R2: 1.6180 R1: 1.6141 Current spot: 1.6122 S1: 1.6104 S2: 1.6083 S3: 1.6055 Technical summary: After a complex wave c, which became a double zig-zig combination we are currently in wave d of the triangle. This d wave should be more simple as it is normal for one […]
Today’s Support and Resistance levels: R3: 141.61 R2: 141.49 R1: 141.37 Current spot: 141.33 S1: 141.14 S2: 140.99 S3: 140.60 Technical summary: The decline from 142.00 has been very messy and hard to read and the rejection from 140.99 indicates that we have seen a small leading diagonal as wave i, and we are currently […]
Today’s Support and Resistance levels: R3: 1.6275 R2: 1.6232 R1: 1.6180 – Important resistance as it’s the top of wave a. Current spot: 1.6148 S1: 1.6115 S2: 1.6083 S3: 1.6035 Technica summary: We are still looking for wave d of the triangle to move lower towards 1.5933 before the final red wave e higher towards […]
Today’s Support and Resistance levels: R3: 141.99 R2: 141.79 R1: 141.62 Current spot: 141.54 S1: 141.35 S2: 140.99 S3: 140.60 Technical summary: The correction from 140.08 just became even more messy and complex. We did see a break below 141.23, but there was no follow-through and we are now back into the range just below […]
Today’s Support and Resistance levels: R3: 1.6153 R2: 1.6100 R1: 1.6076 Current spot: 1.6038 S1: 1.6000 S2: 1.5965 S3: 1.5927 Technical summary: The triangle consolidation is now in its d-leg, the ideal target for this wave is near 1.5965, but it could move lower towards 1.5933 before the final e wave takes over for a […]
Today’s Support and Resistance levels: R3: 141.84 R2: 141.79 R1: 141.49 Current spot: 141.46 S1: 141.21 S2: 140.98 S3: 140.65 Technical summary: Support at 141.23 protected the downside for yet another high at 142.00, but the following decline does look impulsive and it should just be a matter of time before support at 141.23 is […]
Many scoff at notion stock bubble exists — Associated Press, Nov. 19, 2013 Economy Entering New Year on a Roll — Bloomberg, Dec. 25, 2013 ‘We have entered a 15- to 20-year bull market’ — CNBC, Dec. 30, 2013 Economy poised for strong 2014 — Atlanta Journal-Constitution, Jan. 1, 2014 Market Prediction: Bull will keep […]
Today’s Support and Resistance levels: R3: 1.6180 R2: 1.6135 R1: 1.6085 Current spot: 1.6073 S1: 1.6045 S2: 1.6000 S3: 1.5956 Technical summary: Wave d of the triangle consolidation is currently unfolding. We will ideally see resistance at 1.6122 protect the upside for a break below support at 1.6045 confirming the next part of the decline […]
Today’s Support and Resistance levels: R3: 142.52 R2: 142.17 R1: 141.82 Current spot: 141.68 S1: 141.45 S2: 141.23 S3: 140.98 Technical summary: The failure to break clearly below support at 141.23 has kept the correction from 140.08 alive. As long as support at 141.23 protects the downside, we could see a move closer to strong […]
This chart shows you that investors have gone from optimistic to overoptimistic — to a near frenzy: http://bit.ly/1ndsQqT Enjoy this video from Elliott Wave International Learn How the Wave Principle Can Improve Your Trading Related Posts:Market Comment – US dollar recovers, stocks’ rally stalls as… May 8, 2024 Fed expectations drive the market; three Fed […]
USD/CAD Elliott Wave For the last couple of days, the USD/CAD pair has been trading side-ways, corrective wave (c) (coloured blue) of the bigger wave [a] (coloured green) has been developing. In the 1-hour chart above, we can observe that strong upwards move from the start of last week has finally found resistance at the […]
AUD/USD Elliott Wave Last week, the AUD/USD pair has been trading downwards, corrective wave [iv] (coloured green) of the bigger wave C (coloured red) has been developing. In the 1-hour chart above, we can observe that descending movements from the 0.9459 level has already a 7 swings, and we are going with idea that the […]
Today’s Support and Resistance Levels: R3: 1.6180 R2: 1.6135 R1: 1.6097 Current Spot: 1.6058 S1: 1.6045 S2: 1.5989 S3: 1.5956 Technical Summary: The triangle consolidation that have been dominating the picture over the last couple of weeks is still unfolding. We are currently in wave d and expects wave d to decline towards 1.5936 and […]
Today’s Support and Resistance Levels: R3: 142.17 R2: 141.82 R1: 141.68 Current Spot: 141.38 S1: 141.23 S2: 140.98 S3: 140.65 Technical Summary: We are looking for a confirmed break below support at 141.23 to indicate wave iii lower towards 136.33 is developing. However, we do think that short term resistance at 141.68 will be strong […]
Today’s Support and Resistance Levels: R3: 1.6232 R2: 1.6180 R1: 1.6135 Current Spot: 1.6128 S1: 1.6097 S2: 1.6055 S3: 1.5989 Technical Summary: We are still looking for wave d of the triangle consolidation lower towards the area between 1.5908 to 1.5936. Ideally resistance at 1.6135 will protect the upside for a break below support at […]
Today’s Support and Resistance Levels: R3: 142.52 R2: 142.17 R1: 141.82 Current Spot: 141.78 S1: 141.64 S2: 141.23 S3: 140.98 Technical Summary: As long as support at 141.64 and more importantly as long as support at 141.55 protects the downside, we will be looking for the finally rally higher towards 142.17 before red wave iii […]
You know the value of seeing both sides of the big picture. And maybe you are already wondering how much higher this rally can climb. Today we have an eye-opening report for you from Elliott Wave International. U.S. stocks have been bouncing off of their mid-April fall into negative territory for the year. No major […]
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USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued to trade upwards, impulsive wave iii (coloured black) of the bigger wave (iii) (coloured blue) has been developing. In the 1-hour chart of the pair above, we can observe that corrective wave ii (coloured black) has completed at the 1.0955 level, and from […]
AUD/USD Elliott Wave In our last analysis of the AUD/USD pair, we have presented two possible counts, and strong move lower in the last few days has made us go with alternate scenario. In the 30-minutes charts above, we can see three waves lower from the 0.9460 level, and this can be enough to call […]
Today’s Support and Resistance levels: R3: 1.6135 R2: 1.6122 R1: 1.6077 Current spot: 1.6049 S1: 1.6026 S2: 1.5988 S3: 1.5927 Technical summary: Red wave c of the triangle ended at 1.6122 and red wave d is now unfolding. The ideal target area for red wave d is between 1.5908 and 1.5936, from where the final […]
Today’s Support and Resistance levels: R3: 142.17 R2: 141.76 R1: 141.47 Current spot: 141.18 S1: 140.90 S2: 140.64 S3: 140.22 Technical summary: The break above the hort-term important resistance at 141.55 made us go back to our original short-term count. This count shows that red wave i ended at 140.08 and since then red wave […]
