USDCHF is already at the highs, now moving up in wave (5) as new count suggests a completed fourth wave at 0.9552. Current upward reaction is very strong so looks like that bullish momentum could lift prices even to 0.9950-1.0000 area in days ahead.
USDCHF 4h Elliott Wave Analysis…Continue
USDJPY made a deep pullback at the start of the week, down to 115.50 where pair found a support in the last 48 trading hours. Notice that decline was made only by three waves with a triangle in wave (b), so we know that leg down from 119 was wave (c), final within a contra-trend movement. In fact, even rally from the low is very strong that already took out the upper channel line that suggest more gains for this market in days ahead. Ideally pair will revisit 121.83 highs by the end of the…Continue
As expected, AUDUSD turned back to the lows after a corrective rally to 0.8375 which was wave 4) as part of an impulsive decline in big wave (5). Actually with new lows our minimum expectations were achieved, which means that reversal to the upside could follow in sessions ahead. However, ideally target for wave 5) comes in around 0.8130; at 61.8% projected level of wave 3) measured from end of wave 4). But the most important is that market is in fifth wave of decline with divergence on the…Continue
EURUSD is in a nice downtrend from 1.4000, but latest fall to a new low is fifth wave, final leg of a strong bearish impulse so pair could be looking for some reversal in coming weeks. Ideally a three wave rally is already underway, but we still need 1.2600 breakout to confirm larger recovery for EURUSD, which we think that sooner or later will show up, probably at the start of 2015. A bullish divergence also suggests that bounce is coming.
EURUSD Daily Elliott Wave…Continue