Today’s Support and Resistance Levels: R3: 1.6727 R2: 1.6680 R1: 1.6620 Current Spot: 1.6594 S1: 1.6540 S2: 1.6446 S3: 1.6353 Technical Summary: The deep correction from the 1.6843 high and break below 1.6595 confirms that green wave v and red wave i ended at 1.6843 and that red wave ii is currently correcting red wave […]
Today’s Support and Resistance Levels: R3: 139.89 R2: 139.70 R1: 139.51 Current Spot: 139.19 S1: 138.97 – A break below this level will be the first good indication that a top is in place. S2: 138.31 S3: 137.77 Technical Summary: We are still looking for evidences that the top of wave v of 5 could […]
Today’s Support and Resistance Levels: R3: 1.6970 R2: 1.6890 R1: 1.6843 Current Spot: 1.6799 S1: 1.6749 S2: 1.6710 S3: 1.6637 Technical Summary: With the clear break above 1.6733, the green wave v is extending and the next target for green wave v is at 1.6970, where green wave v is 100% of the distance traveled […]
Today’s Support and Resistance Levels: R3: 139.89 R2: 139.70 R1: 139.55 Current Spot: 139.22 S1: 138.88 S2: 138.31 – Break below this support will be the first indication of a top in place S3: 137.77 Technical Summary: With a high at 139.70 (just 19 pips below the ideal target at 139.89) we could have the […]
Today’s Support and Resistance Levels: R3: 1.6733 R2: 1.6692 R1: 1.6642 Current Spot: 1.6620 S1: 1.6572 S2: 1.6472 S3: 1.6392 Technical Summary: There was no time for a deeper correction and we saw a direct break above resistance at 1.6636. The direct break above 1.6636 has forced us to change our count slightly, but this […]
Daily chart 8 hourly chart Today’s Support and Resistance Levels: R3: 139.89 R2: 139.34 R1: 138.84 Current Spot: 138.70 S1: 138.31 S2: 137.67 S3: 137.10 Technical Summary: With the break above 138.30 our ending diagonal count was invalidated. We have been back to the drawing board and has been forced to change our count slightly […]
Today’s Support and Resistance Levels: R3: 1.6684 R2: 1.6636 R1: 1.6592 Current Spot: 1.6586 S1: 1.6521 S2: 1.6487 S3: 1.6462 Technical Summary: The wave iv correction fell short of its ideal corrective target near 1.6344 and found its bottom already at 1.6380. Wave v is developing towards 1.6739. In the short-term we are looking for […]
Today’s Support and Resistance Levels: R3: 138.23 R2: 138.12 R1: 138.03 Current Spot: 137.92 S1: 137.60 S2: 137.10 S3: 136.60 Technical Summary: As we expected, important support at 137.02 protected the downside for a new high at 138.03. The wave structure of this last rally from 137.10 does not look complete yet, therefore we expect […]
Today’s Support and Resistance levels: R3: 1.6498 R2: 1.6457 R3: 1.6412 Current Spot: 1.6382 S1: 1.6341 S2: 1.6298 S1: 1.6259 Technical summary: The correction from 1.6636 has become deeper than we expected and that opens up the case of our alternative count (see the chart below). We still prefer the bullish count we presented yesterday, […]
Today’s Support and Resistance levels: R3: 138.30 R2: 137.99 R1: 137.58 Current Spot: 137.33 S1: 137.02 S2: 136.60 S3: 136.02 Technical summary: After a high at 137.99 touched yesterday, we have seen a correction towards the important support at 137.02. As long as this support protects the downside, we will be looking for one last […]
Today’s Support and Resistance levels: R3: 138.76 R2: 138.30 R1: 138.01 Current Spot: 137.76 S1: 137.33 S2: 137.02 S3: 136.60 Technical summary: We should be in the very last part of the ending diagonal. The maximum for this final wave v will be in the 138.21-138.31 range depending on where the high of wave iii […]
WEEKLY CHART 8-HOUR CHART Today’s Support and Resistance levels: R3: 1.6636 R2: 1.6597 R1: 1.6523 Current Spot: 1.6487 S1: 1.6453 S2: 1.6397 S3: 1.6341 Technical summary: The decline from 1.7274 is one of the weirdest formation we have ever seen. However, when we look at the weekly chart, we are convinced, that it only was […]
Today’s Support and Resistance levels: R3: 1.6488 R2: 1.6429 R1: 1.6387 Current spot: 1.6338 S1: 1.6302 S2: 1.6223 S3: 1.6113 Technical summary: With the break above 1.6422 we have had to change our count slightly. Instead of a one-two/one-two count we have to assume, that red wave i has become the extended wave and […]
Today’s Support and Resistance levels: R3: 135.50 R2: 134.95 R1: 134.24 Current spot: 133.73 S1: 133.60 S2: 133.15 S3: 132.91 Technical summary: The facts, that we did not see a break below 131.12 and saw an unexpected break above 133, which has revived the ending diagonal formation and is calling for one final […]
Today’s Support and Resistance levels: R3: 134.24 R2: 133.73 R1: 133.44 Current spot: 133.25 S1: 132.91 S2: 132.21 S3: 131.50 Technical summary: Well, the rally of the 131.20 low has become larger than expected, but then second waves are allowed to correct the entire first wave, but the second wave can never break […]
Today’s Support and Resistance levels: R3: 1.6488 R2: 1.6422 R1: 1.6320 Current spot: 1.6267 S1: 1.6228 S2: 1.6114 S3: 1.6035 Technical summary: The break above resistance at 1.6294 has forced us to a new short-term count, but our overall bearish expectations are still intact. However, the break above 1.6294 has also opened up […]
Today’s Support and Resistance levels: R3: 1.6294 R2: 1.6223 R1: 1.6190 Current spot: 1.6137 S1: 1.6036 S2: 1.5917 S3: 1.5821 Technical summary: We are currently in wave c of a major correction which began from 1.7274, the ideal target for this correction is at 1.5525, where wave c will be equal in length to wave […]
Today’s Support and Resistance levels: R3: 132.99 R2: 132.76 R1: 132.57 Current spot: 132.27 S1: 131.89 S2: 131.58 S3: 131.20 Technical summary: Wave 1 or A ended with the test of 135.51 and we have now started a correction of wave 1 or A in wave 2 or B, as a minimum we are […]
Today’s Support and Resistance levels: R3: 1.6289 R2: 1.6241 R1: 1.6187 Current Spot: 1.6096 S1: 1.6077 S2: 1.6007 S3: 1.5913 Technical summary: With the break below the invalidation point at 1.6016, we knew our bullish count was wrong and we have now adopted our alternate count as the preferred count. This count call for […]
Today’s Support and Resistance levels: R3: 132.46 R2: 132.17 R1: 131.79 Current Spot: 131.58 S1: 131.20 S2: 130.88 S3: 130.55 Technical summary: With the break below important support at 132.37, our bullish call for one last rally higher to 137.05 was invalidated and at the same time, it told us that wave v of […]
Today’s Support and Resistance levels: R3: 1.6289 R2: 1.6248 R1: 1.6187 Current Spot: 1.6170 S1: 1.6149 S2: 1.6105 S3: 1.6070 Technical summary: We saw a low at 1.6051 yesterday, which very well could mark an important bottom, but we need some confirmation in form of a break above resistance at 1.6241, which would call […]
Today’s Support and Resistance levels: R3: 134.84 R2: 134.15 R1: 133.73 Current Spot: 133.38 S1: 133.14 S2: 132.85 S3: 132.36 Technical summary: The correction went a little lower yesterday to 132.86, but that does not change our overall bullish bias for a rally higher towards 137.05 over the coming weeks. We think we are currently […]
Today’s Support and Resistance levels: R3: 1.6241 R2: 1.6185 R1: 1.6133 Current Spot: 1.6090 S1: 1.6057 S2: 1.6016 S3: 1.5929 Technical summary: We are getting very close to the Invalidation point at 1.6016 for our preferred count. If the above count is valid, we can not accept a break below 1.6016 as the second wave […]
Today’s Support and Resistance levels: R3: 134.84 R2: 134.15 R1: 133.70 Current Spot: 133.42 S1: 132.85 S2: 132.55 S3: 132.27 Technical summary: We saw important resistance at 133.42 protecting the upside for one last decline closer to 132.20 (the final low came in at 132.37). Following the low at 132.37, we have seen a powerful […]
How to Identify Turning Points in Your Charts Using Fibonacci By Elliott Wave International In this trading lesson, Elliott Wave International’s Jeffrey Kennedy shows you how you can use Fibonacci to forecast potential turning points in your charts. You’ll learn the most common Fibonacci retracements and where to expect them in your charts. At the […]
Today’s Support and Resistance levels: R3: 1.6471 R2: 1.6423 R1: 1.6349 Current Spot: 1.6320 S1: 1.6289 S2: 1.6270 S3: 1.6246 Technical summary: The rally from the 1.6246 low observed yesterday does have a clear impulsive character, but to confirm that we have seen an important low at 1.6246, we would like to see support […]
Today’s Support and Resistance levels: R3: 134.84 R2: 134.15 R1: 133.42 Current Spot: 132.94 S1: 132.60 S2: 132.44 S3: 132.20 Technical summary: The pair has been trading in a narrow range between 132.60 and 133.42 since yesterday, and we need a break above 133.42 to confirm that wave b is over and wave c […]
Today’s Support and Resistance levels: R3: 1.6471 R2: 1.6423 R1: 1.6361 Current Spot: 1.6295 S1: 1.6271 S2: 1.6212 S3: 1.618 Technical summary: Wave ii has broken below strong support at 1.6319, which has opened for a deeper decline towards 1.6271 and maybe even 1.6212. We have to remember that the second waves are allowed to […]
Today’s Support and Resistance levels: R3: 134.84 R2: 134.15 R1: 133.69 Current Spot: 132.85 S1: 132.60 S2: 132.44 S3: 132.20 Technical summary: We are hoovering just above strong support in the 132.44-132.60 zone, which we expect will protect the downside for a break above 133.69 confirming the final rally higher in wave c of v […]
Today’s Support and Resistance levels: R3: 1.6515 R2: 1.6487 R1: 1.6461 Current Spot: 1.6433 S1: 1.6390 S2: 1.6356 S1: 1.6312 Technical summary: Support at 1.6469 was broken without troubles, and we are now close to our next target near 1.6390. We could still see a slightly deeper decline towards 1.6312 as long as resistance at […]
