Daily Forex technical analysis for the major pairs Based On The Elliott Waves Principle Combined with Various Technical Indicators And Fundamentals
Thursday, November 18, 2010
Monday, November 15, 2010
Wednesday, November 10, 2010
EUR.USD Chart Update
Tuesday, November 9, 2010
EURUSD & AUDUSD Chart Update
Hi Traders
my yesterdays EURUSD chart worked like a charm , the trend spiked below the bottom of my support zone shown on my yesterday's chart at 1.3850 , it went to around 1.383s before reversing higher , the MACD indicator on the chart shown here confirms the short term bottom with 3 waves up to emerge before the down trend continuation
levels to watch on the upside for potential reversal down again is at 1.40-41 with 1.4050 is the key level i m watching
Aussie showing a break higher from a triangular 4th wave pattern with more upside to come which is similar to the gains expected in the EURUSD Chart.
Monday, November 8, 2010
EURAUD Chart Update
Friday, November 5, 2010
Thursday, November 4, 2010
EURAUD Chart Update
Wednesday, November 3, 2010
EURAUD Chart Update And $I
Hi , Traders , i m putting an update for the Dollar index chart that has proved very accurate from my previous post for it , i m expecting a bounce up in the dollar at the 2 levels i m showing on the chart which will be the end of wave 5 up in the EURUSD.
yesterday , the price action was messy after the FED'S Decision , and its hard to accurately apply the EW Counts on the small time frames but as i m showing in the 2H chart for the EURUSD , i m expecting a consolidation pattern to form which will be the 4th wave of the 5th wave up , 1.40 is a critical level to watch now , 1.4200-50 is the resistance on the upside .
as soon as i recognize any pattern , i ll post the update for this chart here with lower timeframes but i would say everyone should be cautious on the long side from here , as i m expecting a bounce in the Dollar index at the 2 levels shown on the chart , the bottom could be around 75
Monday, November 1, 2010
EURAUD Chart
i m throwing this EURAUD chart not for trading it , but for planning the next trade ,although the Aussie has been stronger than the Eur in the last up swing , but i m expecting a turn up point in the EURAUD chart shown here , which might start a stronger up swing in the Eurusd after this possible correction , so maybe the next long opportunity will be with the EURUSD not the Aussie
EUR.USD Chart Update
The trend has just hit the descending resistance line shown on the chart from the recent to up swings , and we could see some ret. from here into wave E of the triangle or wave (ii) of wave 3 assuming we are already on the 5th wave up , Fib. Support levels to watch extends from 1.3840 - 1.39 although a drop to 1.38 where the triangle trend line support might be possible too .
if the trend breaks above 1.4 level and tests the recent high at 1.4070 , that could be a strong indicator that we r currently on wave 3 already and eliminates the triangle 4th wave count
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