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EURUSD 1H Wave Count & Outlook for the Day

EURUSD started the week off with a strong bullish move, but mid week we have seen seller start to sell into the pair as the outlook here is we may be trading in a bit of a range as long as highs at 1.1450 are not breached.
The current wave count here shows that there is a strong possibility we can do one more high. This would be the "stop run" that will take out weak shorts who have placed stops above 1.1400
The count hints at a subdivided C wave, a pattern that tends to occur when a wave struct…
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EURNZD - 1H Possibly turning over

In follow up to my previous post EURNZD Reversal Continues with Strong Momentum
The pair has now reached the resistance area as outlined in the previous blog post.
The weekly chart, as indicated below, shows that the larger trend remains to the downside. These levels can offer some decent Risk to reward setups for short scalps.
The 1 Hour wave count shows a double correction has completed to the upside. A daily close below the Daily S/R level indicated on the chart would provide stronger …
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Gold to Continue Bearish Trend

Gold is in a long term down trend and has seen some bullish momentum to start the year. The shiny metal has approached some resistance however and the wave count shown below indicates a turning point.
The metal should be under pressure for the month of February, but as the daily trend is currently bullish, dips may be bought causing some volatility to the downside.
Levels
1307.47 - Jan High
1301.00 - Jan Daily close High
1282.88 - Fib Retracement - 50% (1132.08 - 1433.70)
1265.95 - Fib Re…
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SalviLeana avatar
SalviLeana 30 Янв.

Good job ! Great

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Jignesh 9 Февр.

Gold has already surpassed the target on the back of a strong NFP number that took out several support levels.  Currently sitting just Below 1240, the pairs looks like it has just broken a flag patter and looking to retest lows

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Jignesh 25 Февр.

Gold looks like it may have made a bottom here at 1200.    It has surpassed the targets.  We can see some bullish movement into the end of the month, but reaching targets with 2 days left does not look likely

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EURSEK fakes lower before resuming uptrend

EURSEK in my previous analysis looked bearish as it broke through a long term daily Trendline.
In the past month it has managed to trade through the level making the wave count complete
Levels
9.0822 - Previous low, Daily support & Bullish invalidation level
9.3507 - Weekly Resistance area
9.4683 - Weekly Resistance and Equal legs target
9.5600 - Weekly Resistance & Fib confluence
The first chart shows a completed ABC structure to the downside. The daily resistance level has cause a bit of sell …
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Jignesh 5 Нояб.

The pair has completed one more swing lower to test the 9.20 area.  There is a  good fib confluence in this area, as well as a S/R level, as well as the previously broken Daily Trendline.  If this area fails, the last line in the sand for the pair is 9.14.  Major risk event for the pair in the next 24 hours with the ECB press conference on the docket.

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Jignesh 10 Нояб.

The ECB Press conference was a concern for the bullish momentum, but as per the chart above, you can see that it merely caused a spike down.  Meaning the bulls stepped in quickly to buy at lower prices, to bring it back to intern support. 
As per the chart, while remaining above the blue box, the pair still carries good upside potential.  A break would signal the next support at 9.14

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Jignesh 17 Нояб.

EURSEK slowly continues higher with very little momentum.  The upside looks promising as it remains above support, however evidence of buying is not necessarily present.  Will require some form of a catalyst most likely through NOK or SEK to gain momentum

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Jignesh 25 Нояб.

The pair continues to grind higher against the daily trendline.  The EUR weakness seen on the back of a statement from Draghi had a minor impact on this pair, however it's struggling to gain momentum

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EURJPY continues up trend after ABC correction

The BOJ has triggered buying once again in the xxxjpy pairs as they have reaffirmed further QE measures to be taken.
The pair has also completed a 3 wave correction against the main trend which has lasted close to 1 year now.
Levels
134.00 - Yearly low and bullish invalidation point
141.22 - Resistance and previous completion area for b wave of smaller degree
143.00-143.50 - Resistance zone
148.41 - Equal legs target
The first chart below shows the simple ABC corrective wave structure which is …
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Jignesh 17 Нояб.

The pair continued higher last week.  After some hesistation around the mentioned resistance zone of 143.00-143.50 it managed to close the week touching multi year highs at 146.50. 
This week we are seeing strong selling which has been typical to start the week, however, the basis is on a JPY risk event and may carry some weight.

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Jignesh 25 Нояб.

EURJPY continued it's rally last week to touch the resistance area and target marked in the analysis.  The equal legs area which also confluences a 127% extension provided sufficient resistance for the pair for a larger move lower.  Timing wise the pair has reached the area ahead of the time expected and will continue to see if the pair will consolidate in this area.  So far 145.65 which marks the 2013 high has managed to support the pair

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Jignesh 27 Нояб.

On the smaller cycles, the pair is stuck between the 50% retracement of the last leg down and a longer term trendline.  On the docket today is CPI data from Spain and Germany.  The German number has been forecast quite high in comparison to the overall inflation levels.  Will be keeping a close eye on the trendline which while supported has potential to bring the pair back towards targets.

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Jignesh 28 Нояб.

The bullish move has occured.  Next on the docket is EUR CPI Flash Estimate.  This number usually comes in line but has the potential to cause some major volatility in the pair, especially if it comes in negative.  This number is the last risk event prior to the target date.

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Jignesh 1 Дек.

After faking out of the trendline the pair has once again shown clearly that the uptrend has most likely resumed.  With USDJPY leading the way breaking to new highs to start the week, the outlook on this pair is positive.  The chart indicates 147.947 as previous resistance which should act as support for the day.  To the upside we have 148.34 which is the resistance level (highest close on the Daily chart).  The pair can reasonably consolidate in this range prior to the NY Open.

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AUDNZD to pullback after 3 waves up

The AUDNZD shows a 3 wave corrective structure to the upside
AUDNZD - Daily Wave count

  • The current area marks a Fibonacci confluence that is an ideal place for the C wave to end.

  • The pair can be correcting this recent move to the upside in the Month of September.

Using Fibonacci Retracements & Support levels, we predict a target as indicated by the chart below.
As per the weekly chart above, we see that the area that marks 50% of the retracement (1.0840) of the move to the upside shows previ…
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Jignesh 3 Сент.

The pair is sitting right up against the 1.1185 resistance at the moment.  But has not managed to breach it as of yet.  This area will  need to hold for the downside to get started

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Jignesh 22 Сент.

After making a marginal high above the area predicted, the pair has been pulling back and has already traded past some key support levels.  The pair is currently sitting at 1.0931, which has heavy support as the 100 Daily MA resides there, a 61.8 Fib extension of the first leg down as well as previous support as noted in the daily chart.  This area can trigger a larger pull back in which case the targets may not be met as we close in on the end of the month.

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Jignesh 25 Сент.

The support level mentioned in the previous comment did hold.  And then the RBA Gov Stevens pushed the AUD even higher.  Currently at 1.1040 facing resistance.  I do expect another leg of weakness in the pair.  If this area holds, there is still a possibility of reaching targets

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EUR/USD Wave count and trade idea

Since I've just posted a trade idea on the EURCAD, I figured I might as well post my EURUSD chart as well.
Keep in mind, with Elliott Wave analysis, things can change very fast and a count can easily be invalidated. For now, this is the view that I like.
The Daily chart below shows an ABC structure that started at 1.2755 and I am showing it as completed at 1.3966. The second part of the structure, Wave (C) shows the internal structure quite clearly with a running flat (b) wave. What's interes…
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