AUD/USD Elliott Wave For the last couple of days, the AUD/USD pair has been trading downwards, we looked first at this pullback as the FLAT correction inside the (ii) wave, but since our short term invalidation gave up according to our rules, we have slightly adjusted our primary elliott wave count for the pair. In […]
Today’s Support and Resistance levels: R3: 1.6748 R2: 1.6713 R1: 1.6670 Current spot: 1.6629 S1: 1.6618 S2: 1.6574 S3: 1.6523 Technical summary: We now have a five wave rally from the 1.6252 low and a correction can evolve any time now. That said, we do expect the fifth wave to reach 1.6713, before the correction […]
Today’s Support and Resistance levels: R3: 140.88 R2: 140.63 R1: 140.42 Current spot: 140.10 S1: 140.00 S2: 139.49 S3: 138.95 Technical summary: The corrective cycle we were looking for is still unfolding and we expect support at 140.00 and more importantly at 139.49 will protect the downside for the last rally higher towards 142.41 before […]
Today’s Support and Resistance levels: R3: 1.6663 R2: 1.6620 R1: 1.6567 Current spot: 1.6539 S1: 1.6514 S2: 1.6484 S3: 1.6454 Technical summary: Wave iii did end just 10 small pips before the ideal extension target at 1.6630. We are now looking for a small wave iv correction towards the 1.6485 – 1.6514 area before the […]
Today’s Support and Resistance levels: R3: 142.41 R2: 141.87 R1: 141.26 Current spot: 140.57 S1: 140.26 S2: 139.95 S3: 139.49 Technical summary: After a small correction towards 140.26, we should see more upside action towards the ideal target at 142.41 to finish the x-wave and setting the stage for the next decline lower towards 126.03 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, impulsive wave (iii) (coloured green) of the bigger wave [c] (coloured black) has been developing. In the 1-hour chart of the pair above, we can see that we are tracking impulsive wave (iii) since 1.0991, at the moment only sub-waves i […]
AUD/USD Elliott Wave The AUD/USD pair has continued trading downwards, corrective wave [ii] (coloured black) of the bigger wave C (coloured blue) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that wave [ii] is taking a form of the FLAT correction and while the price stays above the low […]
Today’s Support and Resistance levels: R3: 1.6578 R2: 1.6525 R1: 1.6459 Current spot: 1.6430 S1: 1.6405 S2: 1.6359 S3: 1.6305 Technical summary: We have finally broken above resistance at 1.6430 and should see an acceleration higher towards 1.6525 and higher towards 1.6787. In the short term, we will ideally see the former resistance at 1.6430 […]
Today’s Support and Resistance levels: R3: 141.63 R2: 141.23 R1:140.98 Current spot: 140.71 S1: 140.53 S2: 140.33 S3: 140.17 Technical summary: The break above resistance at 140.07 indicated that we shall look for a rally towards at least 142.40, where wave c will be equal in length to wave a, but we could see wave […]
Today’s Support and Resistance levels: R3: 1.6459 R2: 1.6420 R1: 1.6395 Current spot: 1.6378 S1: 1.6339 S2: 1.6327 S3: 1.6298 Technical summary: We are looking for a break above resistance at 1.6420 soon, this break will confirm acceleration higher towards at least 1.6632. Short-term support at 1.6339 will ideally protect the downside for the break […]
Today’s Support and Resistance levels: R3: 140.07 R2: 139.69 R1: 139.42 Current spot: 139.31 S1: 138.95 S2: 138.68 S3: 138.17 Technical summary: The price behavior is still not convincing, but as we approach the decision point we will soon see a clarification, whether we shall see an impulsive red wave (iii) decline or whether we […]
AUD/USD Elliott Wave Last week, the AUD/USD pair traded upwards, impulsive wave [i] (coloured black) of the bigger wave C (coloured blue) developed. In the 1-hour chart above, we can see that the price is pushing aggressively higher after the pair found support at the 0.8925 level, the end of the blue B wave. Impulsive […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading lower, final wave [c] (coloured black) of the bigger wave Y (coloured blue) has been developing. We can see in the 1-hour chart above, that we are inside the impulsive (iii) wave (coloured green) of the bigger wave [c] (coloured black) and […]
Today’s Support and Resistance levels: R3: 140.30 R2: 140.07 R1: 139.99 Current spot: 139.45 S1: 139.21 S2: 138.88 S3: 138.17 Technical summary: We are still not impressed with the wave behavior, but we are getting close to an important decision point, which will determine whether we are looking at red wave (iii) lower towards 132.13. […]
Today’s Support and Resistance levels: R3: 1.6525 R2: 1.6477 R1: 1.6430 Current spot: 1.6370 S1: 1.6350 S2: 1.6305 S3: 1.6253 Technical summary: I’m still looking for support at 1.6350 to protect the downside for a break above resistance at 1.6430 confirming a move higher towards 1.6525 and a break here will confirm that wave E […]
Last fall, the editor of Elliott Wave International’s Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market. What is a triangle? It’s a corrective pattern, meaning that it moves in the […]
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USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, since our invalidation is reached we have moved our wave count to alternate scenario. In the 1-hour chart of the USD/CAD pair, we can see that we are tracking descending movement from the 1.1222 level as the double three correction […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading downwards, impulsive wave [i] (coloured black) of the bigger wave A (coloured blue) has been developing. In the 1-hour chart, we can see that a cycle from the 0.8658 level has already shown us five waves higher, and this just confirms that […]
Today’s Support and Resistance Levels: R3: 1.6525 R2: 1.6460 R1: 1.6430 Current Spot: 1.6388 S1: 1.6351 S2: 1.6299 S3: 1.6253 Technical Summary: We do think the triangle X-wave ended with the test of 1.6253, but we do need more evidence in form of a break above resistance at 1.6525. Short-term break above resistance at 1.6388 […]
Today’s Support and Resistance levels: R3: 140.24 R2: 139.89 R1: 139.66 Current Spot: 139.08 S1: 138.88 S2: 138.17 S3: 137.54 Technical Summary: The decline from 140.30 is not the ideal fit that we would like, but we will give the downside the benefit of the doubt and look for more downside pressure as long as […]
Today’s Support and Resistance levels: R3: 1.6476 R2: 1.6419 R1: 1.6348 Cureent spot: 1.6309 S1: 1.6287 S2: 1.6238 S3: 1.6214 Technical summary: The break below support at 1.6344 indicates that a more complex correction is unfolding, than we expected. Wave E is allowed to decline to support at 1.6214 but it can not break below […]
Today’s Support and Resistance levels: R3: 140.54 R2: 140.30 R1: 139.93 Current spot: 139.78 S1: 139.28 S2: 138.72 S3: 138.17 Technical summary: Support at 139.50 did protect the downside for one last rally higher towards 140.30 (just 5 small pips above our 140.25 target). We are now looking for a break below support at 139.28 […]
USD/CAD Elliott Wave The USD/CAD pair found resistance yesterday, and we see some downward movements in the b wave (coloured blue) of the bigger wave (a) (coloured red) that is currently developing. In the 1-hour chart, we can see that corrective wave b (coloured blue) has completed developing at 1.1091 and from there we are […]
AUD/USD Elliott Wave Yesterday, the AUD/USD pair has continued trading upwards, just like we expected, impulsive wave (v)/(iii) (coloured black) of the bigger wave [i] (coloured green) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that we are currently in the final wave v of (v) that is taking […]
Today’s Support and Resistance levels: R3: 141.26 R2: 140.54 R1: 140.03 Current spot: 139.68 S1: 139.17 S2: 138.72 S3: 138.17 Technical summary: The rally from 136.23 extended and has forced us to change the short term count. Our new preferred count shows that a series of waves i-ii is developing. If this count is correct […]
Today’s Support and Resistance levels: R3: 1.6550 R2: 1.6527 R1: 1.6485 Current spot 1.6455 S1: 1.6390 S2: 1.6344 S3: 1.6310 Technical summary: There has been range trading between 1.6417 and 1.6527 since yesterday without much indication of the next direction. However, we still think that a break towards the upside is most likely and will […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading upwards, just like we expected, corrective wave a (coloured blue) of the bigger wave [z] (coloured green) has been developing. In the 1-hour chart of the USD/CAD pair, we can see that the price has break above the upper trend line yesterday […]
AUD/USD Elliott Wave The AUD/USD pair has started this week higher, impulsive wave (v) (coloured black) of the bigger wave [i] (coloured green) has been developing. Yesterday, at the early London session, we could observe strong ascending movements from the 0.8900 level that we labeled as the end of the (v) wave. Wave [i] should […]
The DJIA, S&P and NASDAQ are struggling to bounce. Yet the bullish convictions remain high. Says a February 5 Investor’s Business Daily headline: “Why Mutual Fund Investors Need Not Panic After January Sell-Off” When is the best time to get out of the stock market? When everyone else is invested and extremely optimistic. When is […]
