USD/CAD Elliott WaveВ Since our last forecast, the USD/CAD has continued trading downward, just like weВ expected,В correctiveВ wave (b) (coloured red) of the bigger wave [y] (coloured green) hasВ been developing. In the 1-hour chart you can see that we are trackingВ descendingВ moveВ from 1.0991 toward 1.0918 as corrective wave a of the bigger wave (b), and while priceВ stay below […]
AUD/USD Elliott Wave The AUD/USD pair continued trading downwards yesterday, wave i (coloured blue) of thebigger wave (v) (coloured red) was developing. In the 1-hour chart above you cansee that we are looking at the downward move from the 0.9085 level, as the first extendedwave of the final (v) wave, RSI is showing divergence and […]
Today’s Support and Resistance levels: R3: 1.6435 R2: 1.6405 R1: 1.6385 Current Spot: 1.6354 S1: 1.6339 S2: 1.6298 S3: 1.6262 Technical summary: The wave (iv) correction we where looking for is unfolding nicely. We expect support at 1.6340 to protect the downside for the last rally higher towards the 1.6405 -1.6415 area, before wave (v) […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.09 R1: 142.85 Current Spot: 142.66 S1: 142.35 S2: 141.79 S3: 141.48 Technical summary: The wave ii correction, we expected, is unfolding nicely and we will be looking for resistance in the 143.09 – 143.17 area to halt the correction and turn prices down in wave iii. […]
AUD/USD Elliott WaveВ After a few weeks in a choppy upward move, the AUD/USD pair moved lower yesterday, impulsive waveВ i (coloured blue) of the bigger wave (v) (coloured red) was developing. Yesterday’sВ descending movements from 0.9085 toward 0.8927 look impulsive, and that is why we are going with idea thatВ corrective wave (iv) (coloured red) is already […]
Today’s Support and Resistance levels: R3: 143.09 R2: 142.84 R3: 142.54 Current Spot: 142.33 S1: 142.19 S2: 142.04 S3: 141.92 Technical summary: The clear break above 141.49 and more importantly the break above 142.04 has forced us to recount the decline from 145.69. Instead of black wave i ending at 141.49 we have moved the […]
Today’s Support and Resistance levels: R3: 1.6522 R2: 1.6449 R1: 1.6359 Current spot: 1.6345 S1: 1.6331 S2: 1.6298 S3: 1.6256 Technical summary: We saw the expected decline closer to 1.6223 (the low has been 1.6214) followed by a correction higher. We expect resistance at 1.6369 will protect the upside for a break below 1.6331 calling […]
USD/CAD Elliott WaveВ Since our last analysis the USD/CAD pair has been trading upwards, impulsive wave v (colored blue) ofВ the bigger wave (a) (colored red) has been developing. In the 1-hour chart of the USD/CAD pair you canВ see that the (a definite article is needed) price found support around 1.0842, where wave iv (coloured blue) […]
Today’s Support and Resistance levels: R3: 1.6403 R2: 1.6363 R1: 1.6340 Current spot: 1.6310 S1: 1.6268 S2: 1.6223 S3: 1.6187 Technical summary: Red wave v extended its decline, but after one more new low closer to 1.6223 we should see a correction higher to just below resistance at 1.6575. Looking at the larger picture, we […]
Today’s Support and Resistance levels: R3: 142.02 R2: 141.78 R1: 141.49 Current spot: 141.31 S1: 141.09 S2: 140.79 S3: 140.49 Technical summary: We are clearly in wave iii lower and should see resistance at 141.49 protect the upside for the next decline lower towards 139.89. Looking at the larger picture (please see the chart below), […]
USD/CAD Elliott WaveВ The USD/CAD pair traded upwards last week, corrective wave (a) (coloured red)В of the bigger wave [y] (coloured blue) was developing. Yesterday’s descendingВ movement from 1.0944 toward 1.0840 was enough to confirmed that we are in the (b) waveВ right now and while we stay below the Friday’s high we are going to look for […]
AUD/USD Elliott WaveВ The AUD/USD pair reached our invalidation point in the late New York session onВ Friday, we are looking at this pair at the moment as we are still developing correctiveВ wave (iv) (coloured red). In the 1-hour chart we can see clear five waves move from theВ 0.8864 level and we can consider this move […]
Today’s Support and Resistance levels: R3: 1.6499 R2: 1.6475 R1: 1.6446 Current spot: 1.6442 S1: 1.6397 S2: 1.6342 S3: 1.6288 Technical summary: Red wave extended to its maximum retracement target at 1.6575, but it also stopped there for a reversal lower in red wave v. We will be looking red wave v lower to 1.6342 […]
Today’s support and resistance levels:В R3: 141.94 R2: 141.81 R1: 141.67 Current spot: 141.46 S1: 141.08 S2: 140.59 S3: 139.99 Technical summary: We have seen a clear break below the support level at 142.04, which confirms that the powerful wave iii lower is developing. We will normally be looking for extension in wave iii; therefore, […]
Today’s Support and Resistance levels: R3: 1.6621 R2: 1.6575 – Important resistance. Low of red wave i. R1: 1.6546 Current Spot: 1.6516 S1: 1.6483 S2: 1.6435 S3: 1.6397 Technical summary: The expanded flat scenario has worked well and as long as support at 1.6483 protects the downside we could see red wave c extend a […]
USD/CAD Elliott WaveВ The USD/CAD pair has been steadily trading upward for the last few days, extended iii wave (coloured blue)В of the bigger (a) wave (coloured red) has been developing.In the 1-hour chart above you can see thatВ yesterday price movementsВ makesВ us to think that wave .v (coloured blue) has completed the bigger wave iiiВ in the Ending […]
AUD/USD Elliott WaveВ The AUD/USD pair has been trading in a choppy downward move from the 0.9000 level, while this high holdsВ we are favoring to see more selling pressure in the final wave (v) (coloured red) that is currentlyВ developing. In the 1-hour chart above, you can see that pressure from 0.8952 is to high and […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.17 R1: 143.03 Current Spot: 142.83 S1: 142.56 S2: 142.26 S3: 142.04 Technical summary: We still think we are in the very early parts of the powerful wave iii lower towards at least 136.43. That said, we need to see the downside challenged soon, otherwise the risk […]
Today’s Support and Resistance level: R3: 1.6546 R2: 1.6518 R1: 1.6503 Current Spot: 1.6458 S1: 1.6439 S2: 1.6413 S3: 1.6368 Technical summary: The failure to clearly break below support at 1.6366 indicates, that a more complex correction is taking place. We are looking for an expanded flat correction, which will like take us up to […]
Today’s Support and Resistance levels: R3: 142.97 R2: 142.85 R1: 142.64 Current Spot: 142.51 S1: 142.38 S2: 142.12 S3: 141.73 Technical summary: We are likely in the very early part of the powerful wave iii lower. This coming wave iii will ideally take us down to at least 136.43 and possibly lower. However, in the […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave iii (coloured blue) of the bigger wave (a) (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0607 toward 1.0685 level. Therefore, during the New York session this commodity currency has continued trading aggressively higher and at the […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading side-ways, corrective wave ii (coloured blue) of the bigger wave (v) (coloured red) has been developing. In the 1-hour chart above you can see that wave i (coloured blue) has completed the cycle at 0.8891 and from there we can observe corrective structure that should […]
Today’s Support and Resistance levels: R3: 1.6546 R2: 1.6503 R1: 1.6470 Current Spot: 1.6445 S1: 1.6398 S2: 1.6366 S1: 1.6285 Technical summary: Red wave iv likely ended at 1.6503 and red wave v is likely developing, however, we still need a break below 1.6398 to confirm that red wave v is developing for a decline […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.31 R1: 143.16 Current Spot: 142.99 S1: 142.79 S2: 142.61 S3: 142.20 Technical summary: We have seen our corrective target at 143.10 was tested, the high was 143.16. Now we will be looking for a break below 142.79 as the first indication that wave ii has ended […]
USD/CAD Elliott Wave Since our last forecast, the USD/CAD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. In the 1-hour chart you can see that wave c has already extended to minimum 100% of the wave a, so we can already label […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, final wave (v) (coloured red) of the bigger wave 1 (coloured blue) has been developing. Yesterday’s descending movements from 0.8970 towards 0.8900 do not look impulsive, and that is why we are going with idea of the diagonal pattern in the wave i of […]
Today’s Support and Resistance Levels: R3: 143.10 R2: 142.78 R1: 142.52 Current Spot: 142.25 S1: 141.94 S2: 141.73 S3: 141.49 Technical Summary: Red wave v and black wave i fell short of its ideal target near 141.24 and we are now in black wave ii, which ideally will make it to resistance at 143.10. However, […]
Today’s Support and Resistance Levels: R3: 1.6575 R2: 1.6546 R1: 1.6505 Current Spot: 1.6474 S1: 1.6444 S2: 1.6398 S3: 1.6366 Technical Summary: The red wave iv correction extended more than expected, but the upside potential is limited from here and we expect minor resistance at 1.6508 will protect the upside for a break below 1.6444, […]
Today’s Support and Resistance Levels: R3: 1.6548 R2: 1.6508 R1: 1.6461 Current Spot: 1.6447 S1: 1.6411 S2: 1.6366 S3: 1.6285 Technical Summary: With the break below important support at 1.6443 we knew that the expanding leading diagonal could not be the correct count. Therefore, we were forced to adopt a much more negative count. This […]
Today’s Support and Resistance Levels: R3: 142.36 R2: 142.03 R1: 141.83 Current Spot: 141.65 S1: 141.24 S2: 140.80 S3: 140.36 Technical Summary: We now have a clear five wave decline from the high 145.69. Short-term we need a little more downside to end the five wave decline and we will be looking for a continuation […]
