AUD/USD Elliott Wave We have seen bearish AUD/USD pair since last week, from last Friday prices have still been favoring for more downward movements when development of the corrective wave (iv) (coloured red) complete. In the hourly chart you can see that we are tracking strong ascending movements from 0.8842 as the final leading diagonal .c of y wave. We are […]
USD/CAD Elliott Wave Since our last forecast the USD/CAD pair has been trading slightly lower, corrective wave (e) (coloured red) of the bigger wave [x] (coloured green) has finished developing. On the 1-hour chart you can see that USD/JPY has completed the Triangle wave [x] at 1.0580 and from there we can see upward movements above 1.0600 that is […]
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Today’s Support and Resistance Levels: R3: 1.6659 R2: 1.6623 R1: 1.6577 Current Spot: 1.6537 S1: 1.6517 S2: 1.6470 S3: 1.6443 Technical Summary: We have tested important support at 1.6569 and have even broken it slightly. The important question now is whether we are ready to challenge the upside again or the downside pressure is to […]
Today’s Support and Resistance Levels: R3: 143.63 R2: 143.25 R1: 142.81 Current Spot: 142.59 S1: 142.30 S2: 142.10 S3: 141.76 Technical Summary: The powerful break below the base channel support line does support our count perfectly. Short-term we should see support at 142.30 protecting the downside for a red wave iv correction towards 143.26. The […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading downwards, just like we expected, corrective wave x (colured blue) of the bigger wave (y) (coloured red) has been developing. On the 1H chart above you can see that we have completed FLAT pattern on Tuesday at the 1.0615 level and from there this commodity pair has been […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, corrective wave (c) (coloured blue) of the bigger wave (iv) (coloured red) has completed cycle from the 0.8819 level. During today’s Asian session we could observe strong descending movement from 0.8950 towards 0.8853 level and we can consider this move as potential start of […]
Today’s Support and Resistance Levels: R3: 1.6818 R2: 1.6790 R1: 1.6765 Current Spot: 1.6733 S1: 1.6683 S2: 1.6621 S3: 1.6569 Technical Summary: We are currently at strong support near 1.6683 and a break below here will indicate continuation towards the 1.6569 area. However, if this support protects the downside from a break above 1.6807, the […]
Today’s Support and Resistance Levels: R3: 145.32 R2: 145.17 R1: 145.01 Current Spot: 144.84 S1: 144.60 S2: 144.37 S3: 144.06 Technical Summary: We are still looking for evidence that wave v of 5 is in place at 145.69. The first real evidence will be a powerful break below 144.37, but only a break below 140.91 […]
AUD/USD Elliott Wave At the beginning of this week the AUD/USD pair has been trading sideways, corrective wave (iv) (coloured red) of the bigger wave 1 (coloured green) has been developing. Yesterday’s upward movements from 0.8331 towards 0.8957 level may ondocate that the corrective wave (iv) as a flat pattern. In the 1-hour chart we can see that […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, we have slightly adjusted our wave count to fit the current market price. In the 1-hour chart above you can see that we are tracking the descending movement from 1.0725 towards 1.0630 as flat correction in the x wave (coloured blue). Today, the USD/CAD […]
Today’s Support and Resistance levels: R3: 1.6924 R2: 1.6877 R1: 1.6807 Current Spot: 1.6789 S1: 1.6747 S2: 1.6674 S3: 1.6625 Technical summary: As we said yesterday a break below 1.6807 will force us to change our count slightly. A break below 1.6807 told us, that blue wave v of the expanding diagonal ended at 1.6996 […]
Today’s Support and Resistance levels: R3: 145.69 R2: 145.17 R3: 144.95 Current Spot: 144.72 S1: 144.55 S2: 144.37 S3: 143.85 Technical summary: Our expectation of a rally to 145.19 worked well, as we saw a top just 2 pips below at 145.17. We will now be looking for a break below minor support at […]
AUD/USD Elliott wave For the last few days, the AUD/USD pair is trading downwards, impulsive wave iii (coloured blue) of the bigger wave (v) (coloured red) has been developing. In the hourly chart above you can see that we have switched to our alternate count and we are counting descending movement from 0.8957 as final wave (v) […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading upwards, impulsive wave iii (coloured blue) of the bigger wave (c) (coloured red) has been developing. During the Friday’s sessions, we could observe strong ascending movements from 1.0618 towards 1.0717 level and in the chart above you can see that we are labeling this strong move as extended […]
Today’s Support and Resistance levels: R3: 1.7046 R2: 1.6996 R1: 1.6955 Current Spot: 1.6875 S1: 1.6856 S2: 1.6807 S3: 1.6748 Technical summary: The clear break above 1.6869 indicates that blue wave v of the expanded flat correction ended at 1.6807 and a new series of waves one’s and two’s is developing for the next powerful […]
Daily chart 8-hour chart Today’s Support and Resistance levels: R3: 146.96 R2: 145.69 R1: 145.19 Current Spot: 144.77 S1: 144.55 S2: 144.37 S3: 144.01 Technical summary: We saw an extended rally on Friday in a very thin Market with a high at 146.96, which could mark the top of wave v of 5. If […]
Today’s Support and Resistance levels: R3: 1.7007 R2: 1.6960 R1: 1.6873 Current Spot: 1.6839 S1: 1.6803 S2: 1.6748 S3: 1.6708 Technical summary: Resistance at 1.6869 has been tested (the high has been 1.6873). Look for a correction in green wave ii towards at least 1.6708. That said, if support at 1.6803 protects the downside for a […]
Today’s Support and Resistance levels: R3: 145.62 R2: 145.13 R1: 144.73 Current Spot: 144.49 S1: 144.24 S2: 143.61 S3: 143.29 Technical summary: Trying to pick the top has proven to be a hard nut to crack. However, the upside should be limited from here. We will likely not see more than 144.73 tested, but to […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, impulsive wave i (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the hourly chart above, we can observe that the upward move from 1.0580 (Monday’s low) towards 1.0650 was diagonal structure and we can consider this move as the […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. After a few days in a downward move from 0.8957, this major currency pair found support at 0.8875 yesterday during the late Asian session, and from there, […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6808 R1: 1.6766 Current Spot: 1.6761 S1: 1.6731 S2: 1.6681 S2: 1.6661 Technical summary: It finally seems as we are ready to challenge the upside for a test of resistance at 1.6869 to end the expanding diagonal. Once the target at 1.6869 is hit, we will look […]
Today’s Support and Resistance levels: R3: 143.92 R2: 143.57 R1: 143.46 Current spot: 143.38 S1: 143.00 S2: 142.46 S3: 141.86 – Important support. A break below here confirms the top. Technical summary: The target at 143.24 has been hit. An important top should be imminent. The first indication of the top being in place is […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has continued trading downwards, corrective wave b (coloured blue) of ht bigger wave (a) (coloured red) has been developing. Since Monday’s Asian session until now, we have been able to observe strong descending movements from 0.8958 towards 0.8880, that is taking corrective structure and we are can consider this […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading slightly upwards, corrective wave (c) (coloured red) of the bigger wave (y) (coloured green) has been developing. In the hourly chart above, we can observe that the downward move from 1.0736 towards 1.0580 was corrective and we can consider this move as the end […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6808 R1: 1.6739 Current Spot: 1.6692 S1: 1.6672 S2: 1.6630 S3: 1.6597 Technical summary: Nothing much is going on with this currency pair right now. We are still looking for a rally higher towards 1.6869 to end the leading diagonal. Once finished we should look for a […]
Today’s Support and Resistance levels: R3: 143.24 R2: 142.89 R1: 142.74 Current Spot: 142.60 S1: 142.42 S2: 142.14 S3: 141.86 – Important support – Break below indicates a top being in place. Technical summary: As resistance at 142.49 was broken we knew, that a new high above 142.89 is needed to finish this rally. Short […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading downwards, so we have adjusted our primary forecast to fit the latest market movements. On the hourly chart above, we can see that the short-term cycle from the 1.0560 level we can see a diagonal pattern and we are labeling the high […]
AUD/USD Elliott Wave From the start of this week the AUD/USD pair has been trading downwards, corrective b wave (coloured blue) of the bigger wave (a) (coloured red) has been developing. On the hourly chart we can see that cycle from 0.9756 should be over at the 0.8819 level in the five wave move. While the price […]
Today’s Support and Resistance levels: R3: 1.6808 R2: 1.6749 R1: 1.6708 Current Spot: 1.6665 S1: 1.6630 S2: 1.6597 S3: 1.6569 Technical summary: Not much is happening here. We are still looking for one last rally higher towards 1.6869 to finish the leading diagonal. In the long term we are looking for much higher levels, but […]
