Elliott Wave Forecast! - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
AUDUSD: Reversal Pattern Is Pointing Towards 1.0375
As per Elliott Wave Analysis, sharp impulsive reversal higher in this week suggests that AUDUSD found a temporary low and completed an ending diagonal in wave 5 with a throw-over formation. Throw-over occurs when volume is high in the fifth wave that approaches its lower trendline of the pattern, and extends slightly beneath it before reversal occurs. As such, the wave count is now pointing higher for a minimum three waves retracement back to former black wave four levels; 1.0375.
Pair also tested and reverse lower from blue wave (iv) resistance yesterday that caused a current a pull-back in wave B that will ideally look for a support around 1.0200 area. Expect a wave C rise from those levels, while pair trades above 1.0115 invalidation level.
EURUSD: Elliott Wave Analysis- Corrective
looking for deeper pull-back on Eur
USDCAD: Impulsive Trend Could Resume From 1.0200
USDCAD is trading nicely higher for the past few weeks, which was expected after wave B) pull-back down to 0.9800 support at the end of 2012. As per Elliott Wave Analysis, after completed correction the market will make an impulsive price action, in wave C); five wave rally in wave C), which is still incomplete. For now USDCAD has only three waves up to 1.0340 so more gains to come after current wave 4 pull-back that could test 1.0200 level next week, before uptrend resumes. Critical level is at 1.0100. As per Elliott Wave Rule, wave four must not make an overlap with wave one.
AUDUSD: Reversal Pattern Is Pointing Towards 1.0375
Elliott Wave Pattern suggests AUDUSD is pointing toward 1.0375 with impulsive rally
German DAX, uptrend is expected to resume.
As per Elliott Wave Analysis German DAX appears to be in fourth wave; uptrend is expected to resume.
USDJPY Now Underway To 98.00-Elliott Wave
Elliott Wave Analysis indicates that USDJPY is trying to stay with a larger uptrend now after recent reversal down to 95.50 support which appears to be wave iv).
UPDATE #2: GBPUSD Making a Three Wave Rally
GBPUSD is in sharp uptrend for the past two days, which was expected from a Elliott Wave Analysis after five waves down in red wave 5) of (3) followed by a broken trend-line. Well, current rally has an impulsive structure which means that leg is part of a larger recovery which will probably prove corrective as we are tracking a blue wave (4) pull-back.
USDJPY : Rise Above 95.45 Puts Pair Back In Bullish Mode
Despite a big gap down on USDJPY pair remains in bullish mode as declien is actually still in three waves which we think it's wave (iv).
USDCHF Is Looking Bearish Towards 0.9300 Against 0.9566
USDCHF reversed sharply lower in the past week from 0.9566 peak and also closed on a daily and weekly basis beneath 0.9430 swing.
AUDUSD Is Sideways But Still Bullish Within Larger Trend
Pair has reached 1.0375/1.0400 zone last week that we have been focusing on for some time with our clients, but based on the latest wave structure we could see even higher levels on this pair