|
Elliott Wave Weekly Analysis
|
Elliott Wave Principle reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific and measurable patterns. If you can identify repeating patterns in prices, and figure out where in those repeating patterns we are today, then you can predict where we are going in the future.
- The daily trade ideas section provides trading strategies everyday for our readers to profit from these identifiable patterns.
- The weekly analysis section provides wave counts and forecasts from the bigger picture.
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 26 09 02:09 GMT
|
|
The 3-legged rebound to 1.1126 and the sharp retreat from there suggests the wave v may still be in progress and as long as said resistance level holds, a retest of 1.0632 support cannot be ruled out, however, it is necessary to see a break there to signal the wave v of c is under way towards 1.0590 (61.8% Fibonacci retracement of 0.9059-1.3066). However, as this is the final wave v of c leg as well as the entire wave B from 1.3066, downside should be limited to 1.0531 (61.8% projection of the beginning of wave i to iii measuring from wave iv) and support at 1.0310/15 should remain intact. |
|
Read more...
|
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 25 09 03:45 GMT
|
|
As the retreat from 1.8091 has kept sterling under pressure, retaining our mildly bearish view that the c leg as well as the wave 4 correction from 1.5122 and our first downside target at 1.7448 has been met, with price breaking below indicated support at 1.7391, further decline to 1.7120/25, then 1.7000 is underway. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 25 09 03:44 GMT
|
|
The British pound traded narrowly after falling to 1.6275 and further consolidation is likely to take place and we are keeping our view that wave (v) has formed a top at 1.7044, hence downside bias remains for correction towards 1.6000, however, a daily close below 1.5983 support is needed to confirm this view and bring stronger correction towards 1.5802 support and then 1.5690 (38.2% Fibonacci retracement of entire rise from 1.3500 to 1.7044). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 24 09 03:01 GMT
|
|
Despite last week's anticipated fall to 93.42, as indicated support at 93.09 has held, the rebound from there suggests the wave ii from 97.79 has possibly ended at 93.42 and gain to 95.61 (50% Fibonacci retracement of 97.79 to 93.42), then towards 96.12 (61.8% Fibonacci retracement), however, it is necessary to see a clear break of 96.80 resistance to confirm this view and then retest of 97.79 would follow. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 24 09 02:59 GMT
|
|
Despite falling to 1.4045 last Monday, the rebound from there suggests the wave v of (c) could still be in progress as a diagonal triangle (as indicated in our previous update) and a retest of 1.4448 cannot be ruled out, however, only break there would extend the final leg of the wave v to it is still possible to see a diagonal triangle wave v and marginal rise to 1.4605 (50% projection of wave i-iii measuring from end of wave iv at 1.3878) but upside should be limited to 1.4720 and bring retreat in wave D. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 21 09 03:55 GMT
|
|
As indicated in our previous update that the retreat from 138.72 signals the wave i of wave 3 has ended there and further consolidation below there would take place, however, we still think downside would be limited to 131.48 (61.8% Fibonacci retracement of the wave i from 127.00 to 138.72) and 130.00 should hold and bring wave iii of 3 later. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 21 09 03:54 GMT
|
|
Failure to extend early rebound from 1.0563 and the sharp retreat from 1.0885 suggests the (c) from 1.1967 is still in progress and break of said support would extend marginally to 1.0451 (50% projection of 1.1742 to 1.0592 measuring from 1.1026), however, as long as 1.0370 support holds, we are still holding our view of a triangle wave b count. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 20 09 03:40 GMT
|
|
Despite rising to a fresh 2009 high of 82.00 as expected, the subsequent retreat from there suggests a temporary top has possibly been formed and consolidation with mild downside bias is seen for fall towards 75.00/05 (61.8% Fibonacci retracement of 70.76 to 82.00), however, a daily close below there is needed to add credence to this view and bring correction towards 71.90 (38.2% Fibonacci retracement of 55.56 to 82.00) later. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 20 09 03:39 GMT
|
|
Although the Australian dollar has retreated after rising marginally to 0.8479, until we see a daily close below indicated level at 0.8090, we cannot rule out the possibility of one more marginal rise and above said resistance may extend upmove to chart resistance at 0.8520, break there would bring the final leg of the move towards the projected target at 0.8690 (50% projection of wave (i) - (iii) measuring from wave (iv) trough). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 19 09 04:03 GMT
|
|
Despite rising marginally to 1.5364 last week, the subsequent retreat from there suggests upmove is not ready to resume yet and further consolidation below resistance at 1.5383 would take place and pullback to 1.5000/10 cannot be ruled out but as long as indicated support at 1.5006 (wave ii trough) holds, our bullish count remains for wave iii upmove in late Q3. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 19 09 04:01 GMT
|
|
As the greenback has rebounded again after finding renewed buying at 1.0792, retaining our view that the wave v of larger degree wave c has possibly ended at 1.0632 and upside bias remains for gain to 1.1307 (61.8% Fibonacci retracement of 1.1725 to 1.0632), a daily close above there would add credence to this count and further rise to 1.1490 (38.2% Fibonacci retracement of 1.2716 to 1.0632) would follow but resistance at 1.1725 (also just above 50% Fibonacci retracement of 1.2716 to 1.0632 at 1.1724). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 18 09 03:40 GMT
|
|
Although sterling retreated after rising marginally to 163.00 earlier and consolidation below there is likely to be seen with mild downside bias for fall to 152.96 (61.8% Fibonacci retracement of 146.75 to 163.00), a daily close below 150.00 is needed to signal the second c leg of the wave 4 has ended at 163.00 and bring test of 146.75 support later. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 18 09 03:39 GMT
|
|
The retreat from 1.7044 to 1.6275 yesterday adds credence to our view that the British pound has possibly formed a temporary top there earlier and correction towards 1.6000 is likely, however, a daily close below 1.5983 support is needed to confirm this view and bring stronger correction towards 1.5802 support and then 1.5690 (38.2% Fibonacci retracement of entire rise from 1.3500 to 1.7044). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 17 09 03:10 GMT
|
|
Although the single currency rebounded to as high as 1.4328 last week, the retreat from there adds credence to our preferred count that top has been formed at 1.4448 and another fall to 1.4086 support is likely, however, break of 1.4007 support is needed to confirm this view (as this would remove the possibility of a diagonal triangle wave v) and bring further fall towards 1.3878, then 1.3747.
Our preferred count on the daily chart remains that a wave (B) from 1.2329 is unfolding which itself is possibly a triangle with A-leg ended at 1.4720, followed by wave B at 1.2457, the wave C from there is also a 3 legged move and is labeled as (a): 1.3739, (b): 1.2885, the wave iii of the 5-waver (c) from 1.2885 has ended at 1.4339 and wave iv is a triangle ended at 1.3878 and wave v has possibly ended at 1.4448. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 17 09 03:08 GMT
|
|
The stronger-than-expected retreat from 97.79 suggests the wave i of wave C from 91.73 has ended there and wave ii correction is now in progress and whilst fall to 94.01/04 (previous support and 61.8% Fibonacci retracement of wav i from 91.73 to 97.79) cannot be ruled out, reckon support at 93.09 would limit downside and bring another rally later this month. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 14 09 05:29 GMT
|
|
Although the single currency rose to as high as 138.72 last Friday, the retreat from there suggests the wave I of wave 3 has ended there and a week of consolidation below there would take place, however, break of 134.10 support is needed to confirm this view and bring correction to 132.80 but downside should be limited to 131.48 (61.8% Fibonacci retracement of the wave i from 127.00 to 138.72) and 130.00 should hold and bring wave iii of 3 later this month. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 14 09 05:28 GMT
|
|
Despite falling marginally to 1.0563 last week, the rebound from there suggests the (c) wave has possibly ended there and consolidation with mild upside bias is seen but break of 1.0935/40 is needed to add credence to this view, bring test of 1.1026 resistance. Once this level is broken, this would confirm low has finally been formed and correction in wave (d) would take place for further rise towards 1.1290/00 (approx. 61.8% Fibonacci retracement of 1.1742-1.0563) and then towards 1.1431 (61.8% Fibonacci retracement of entire wave (c) from 1.1967). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 13 09 04:07 GMT
|
|
The single currency finally rebounded after falling to 1.5186 earlier and consolidation above there would take place and gain to 1.5758 (50% Fibonacci retracement of 1.6329-1.5186) is likely, however, a daily close above 1.5892 (61.8% Fibonacci retracement) is needed to confirm the e leg of the decline 1.7509 has ended at 1.5186 and bring further rise to 1.6000. |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 13 09 04:06 GMT
|
|
Despite retreating to 0.8180 yesterday, the strong rebound from there on renewed cross-buying due to risk appetite suggests the upmove is still in progress and retest of 0.8471 is under way, break there would extend upmove to chart resistance at 0.8520 and above there would bring headway to the projected target at 0.8690 (50% projection of wave (i) - (iii) measuring from wave (iv) trough). |
|
Read more...
|
|
Elliott Wave Weekly |
Written by ActionForex.com |
Aug 12 09 03:14 GMT
|
|
The stronger-than-expected rebound from 1.0632 signals the wave v of larger degree wave c has possibly ended there and upside bias is seen for gain to 1.1307 (61.8% Fibonacci retracement of 1.1725 to 1.0632), a daily close above there would add credence to this count and further rise to 1.1490 (38.2% Fibonacci retracement of 1.2716 to 1.0632) would follow but resistance at 1.1725 (also just above 50% Fibonacci retracement of 1.2716 to 1.0632 at 1.1724). |
|
Read more...
|
|
|
<< Start < Prev 61 62 63 64 65 66 67 68 69 70 Next > End >>
|
|
Page 69 of 76 |
Latest in Elliott Wave Weekly Analysis
|
Forex Brokers
|
