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Elliott Wave Trades |
Written by ActionForex.com |
Mar 19 10 10:28 GMT |
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As aussie retreated after faltering below this week's high of 0.9253, suggesting further consolidation would take place and retracement to 0.9050/60 is likely, however, renewed buying interest should emerge above this week's low at 0.9096 and bring another rally in wave iii from 0.8578 to 0.9294 (100% projection of wave i) but loss of near term momentum would limit upside and reckon resistance at 0.9331 would hold. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 18 10 10:17 GMT |
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Although the stronger-than-expected retreat signals a temporary top has been formed at 125.36 and further consolidation would be seen, reckon downside would be limited to 122.51 (50% Fibonacci retracement of 119.66 to 125.36) and 121.84 (61.8% Fibonacci retracement) would hold, bring another rise later. Above 124.25/30 would suggest correction from 125.36 has possibly ended and bring retest of this resistance, break would revive our bullishness for further gain to 126.00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 18 10 10:16 GMT |
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Despite yesterday's rise to 0.9253, as the Australian dollar has retreated from there, suggesting minor consolidation would take place, however, renewed buying interest should emerge above this week's low at 0.9096 and bring another rally in wave iii from 0.8578 to 0.9294 (100% projection of wave i) would be seen, however, overbought condition would limit upside and reckon resistance at 0.9331 would hold. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 17 10 10:11 GMT |
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As the single currency continued to move higher, suggesting a test of resistance at 125.36 would be seen, however, break there is needed to confirm wave v has ended at 119.66 and the rise from there would extend gain to 126.00, then towards 126.95/00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 17 10 10:09 GMT |
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The Australian dollar resumed recent upmove as suggested and signals the wave iii from 0.8578 is still in progress and further gain to 0.9294 (100% projection of wave i) would be seen, however, overbought condition would limit upside and reckon resistance at 0.9331 would hold on first testing. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 16 10 10:07 GMT |
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Despite intra-day marginal fall to 123.24 (yesterday's low was 123.32), as the single currency staged a strong rebound from there, suggesting the correction from 125.36 has possibly ended and consolidation with upside bias is seen but break of said resistance at 125.36 is needed to confirm wave v has ended at 119.66 earlier and would extend the rise from there to 126.00, then towards 126.95/00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 16 10 10:06 GMT |
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Although aussie rebounded after yesterday's retreat to 0.9096, as long as resistance at 0.9209 holds, further consolidation would be seen and another corrective fall to said support would be seen, break there would bring correction of recent rise to 0.9053/56 (38.2% Fibonacci retracement of 0.8800 to 0.9209 and last week's low) would be seen, however, renewed buying interest should emerge well above 0.9000 and bring another upmove later. Above said resistance would extend the rise from 0.8567 to 0.9240/50 and then towards 0.9294 (100% projection of wave i) but overbought condition would limit upside to 0.9331. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 15 10 10:16 GMT |
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Despite intra-day brief rise above Friday's high at 125.21 to 125.36, lack of follow through buying and the retreat from there suggest consolidation would take place and retracement to 123.00/10 cannot be ruled out, however, renewed buying interest should emerge there and bring another rally later. Above said resistance would confirm wave v has ended at 119.66 and would extend the rise from there to 126.00, then towards 126.95/00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 15 10 10:15 GMT |
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As aussie has retreated after intra-day marginal rise to 0.9209 (Friday's high was 0.9195), suggesting minor top is formed and consolidation below there would take place, bring retracement to 0.9053/56 (38.2% Fibonacci retracement of 0.8800 to 0.9209 and last week's low), however, renewed buying interest should emerge well above 0.9000 and bring another upmove later. Above said resistance would extend the rise from 0.8567 to 0.9240/50 and then towards 0.9294 (100% projection of wave i) but overbought condition would limit upside to 0.9331. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 12 10 09:06 GMT |
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Current firmness suggests the rise from 119.66 low is still in progress and further gain towards resistance at 125.24 would be seen, however, break there is needed to add credence to our view that wave v ended at 119.66 earlier and bring stronger rebound to 126.00, then towards 126.95/00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 12 10 09:05 GMT |
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As aussie has maintained a firm undertone after early rise to 0.9193, suggesting the rise from 0.8567 is still in progress and further gain to 0.9240/50 and then towards 0.9294 (100% projection of wave i) would be seen, however, overbought condition would limit upside to 0.9331. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 11 10 09:35 GMT |
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Euro's rally after early retreat to 121.46 (Tue 09 March) has retained our bullish view that wave v has ended earlier at 119.66 and consolidation with upside bias remains for gain to 124.50, then towards resistance at 125.24, however, break there is needed to provide final confirmation and bring stronger rebound to 126.00. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 11 10 09:32 GMT |
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As aussie eased after rising to 0.9193 yesterday, suggesting minor consolidation would be seen, however, pullback should be limited to 0.9030/35 and bring another rally later. Above said resistance would extend gain to 0.9240/50 and then towards 0.9294 (100% projection of wave i) |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 10 10 09:52 GMT |
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Although euro rebounded after falling to 121.46 yesterday, above resistance at 123.90 is needed to revive our bullish count that wave v has ended at 119.66 earlier and bring retracement of recent decline to 125.00 and then 125.24, otherwise, further consolidation would take place and another retreat to 121.46 cannot be ruled out but support at 120.30 should remain intact, bring strong rebound later this week |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 10 10 09:49 GMT |
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As aussie has maintained a firm undertone after breaking resistance at 0.9134, suggesting recent rise from 0.8578 is still in progress and further gain to indicated resistance at 0.9175 (previous support) would be seen, above would extend gain to 0.9200 and then towards 0.9294 (100% projection of wave i) |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 09 10 09:40 GMT |
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Although euro's retreat from yesterday's high of 123.90 turned out to be stronger than expected and weakness to 120.90/00 cannot be ruled out, as we are keeping our view that wave v has ended at 119.66 earlier, downside should be limited and as long as 120.30 holds, prospect of another rally remains and above 123.00/10 would signal the retreat from 123.90 has ended, then retest of this level would be seen later. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 09 10 09:38 GMT |
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As aussie retreated after faltering below yesterday's high at 0.9134, suggesting further consolidation would take place and whilst pullback to 0.9000/05 (approx. 38.2% Fibonacci retracement o 0.8800 to 0.9134) cannot be ruled out, reckon 0.8967 (50% Fibonacci retracement) would hold and bring another rally later. Above said resistance would extend gain to 0.9175 (previous support turned resistance), break there would encourage for further rise to 0.9200. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 08 10 09:56 GMT |
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As aussie has risen again on back of active cross-buying versus Japanese yen, confirming our view that wave iii from 0.8578 is unfolding and may extend further gain to 0.9175 (previous support turned resistance), break there would encourage for further rise to 0.9200. |
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Elliott Wave Trades |
Written by ActionForex.com |
Mar 05 10 09:26 GMT |
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Although near term sideways trading within the range of 119.66-121.90 is expected to continue as suggested in our previous update, as long as said upper range holds, recent decline may extend marginally in wave v and break of said support would extend weakness to 119.10 (approx. 50% projection of 125.24-119.66 measuring from 121.90) but reckon 118.45 (61.8% projection) should hold, bring rebound later. |
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