NDelic

EUR/JPY Elliott Wave This week the EUR/JPY pair was trading in a downward channel developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). Yesterday, during the European session, we could observe a descending movement towards the 96.40 level. Therefore, during the New York session, this currency pair did not manage to hold this level and the price started pushing higher. At the moment, the EUR/JPY pair is trading around 96.70 level, and we are expecting to see the price at 96.05 today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (101.60-98.30-101.40) with Take Profit at 96.05 (161.8% of wave 1). Resistance point at 97.00 can be used as Stop Loss point. Also it is necessary to monitor the EU Italian 10-y Bond Auction data that can change the rate of the pair. Support and Resistance Levels (S3) 95.57 (S2) 96.13 (S1) 96.47 (PP) 97.02 (R1) 97.58 (R2) 97.92 (R3) 98.47 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why short positions at level 96.60 with Stop Loss at 97.00 and Take Profit at 96.05 are recommended.

EUR/USD Elliott Wave Last week the EUR/USD pair was trading in a downward move developing impulsive wave (3) (coloured green) of the bigger 5 wave (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 1.2296 level. Therefore, during the New York session this major pair did not manage to hold this level and price was pushed down reaching a new 2 years low at 1.2211 level. At the moment we are in the 5 wave (coloured blue) of the bigger (3) wave (coloured green) and we are expecting to see the price around 1.2150 level today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.2742-1.2408-1.2692) with Take Profit at 1.2149 (161.8% of wave 1). Resistance point at 1.2255 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Import Prices m/m, Federal Budget Balance, FOMC Member Williams Speaks and EU ECB Monthly Bulletin, Industrial Production m/m, ECB President Draghi Speaks data that can change the rate of the pair. Support and Resistance Levels (S3) 1.2165 (S2) 1.2197 (S1) 1.2217 (PP) 1.2249 (R1) 1.2281 (R2) 1.2301 (R3) 1.2333 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.2200 with Stop Loss at 1.2255 and Take Profit at 1.2149 are recommended.

AUD/USD Elliott Wave Since our last analysis the AUD/USD pair was trading in an upward move developing corrective wave B (coloured blue) of the bigger wave (2) (coloured green). During the European session we could observe an ascending movement towards the 1.0280 level and we can consider this move as the end of the B wave (coloured blue). Therefore, during the New York session the AUD/USD pair started pushing lower trying to develop the final C wave (coloured blue) of the bigger (2) wave (coloured green). Today during the early Asian session we could observe continuation of the bearish mood from yesterday's NY session and the price reached 1.0175 level. At the moment we can observe the price trading around 1.0150 level and we are expecting to see the price around 1.0100 level today. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9968-1.0328) with Take Profit at 1.0105 (61.8% of wave 1). Resistance point at 1.0180 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Import Prices m/m, Federal Budget Balance and FOMC Member Williams Speaks data that can change the rate of the pair. Support and Resistance Levels (S3) 1.0133 (S2) 1.0173 (S1) 1.0197 (PP) 1.0236 (R1) 1.0276 (R2) 1.0300 (R3) 1.0339 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.0150 with Stop Loss at 1.0180 and Take Profit at 1.0105 are recommended.

GBP/JPY Elliott Wave Since yesterday the GBP/JPY pair was trading in downward move developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). During the early European session we could observe descending movement towards the 122.70 level. This move may be regarded as the end of a smaller wave 1 of the bigger 5 wave (coloured blue). For this reason, during the New York session GBP/JPY did not manage to hold this level and price returned to the 123.45. At the moment the price is trading around 123.10 level and we are expecting to see it around 122.00 level today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance point at 123.67 can be used as Stop Loss point. Support and Resistance Levels (S3) 122.38 (S2) 122.69 (S1) 122.88 (PP) 123.20 (R1) 123.51 (R2) 123.70 (R3) 124.02 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 122.90 with Stop Loss at 123.66, Take Profit 1 at 122.52, and Take Profit 2 at 120.69 are recommended.

AUD/USD Elliott Wave Since Monday the AUD/USD pair was trading in an upward move developing impulsive wave 1 (coloured pink). An ascending movement towards the 1.0245 level was observed during the European session. It is possible to define this move as the end of the 3 impulsive wave of the bigger 1 wave (coloured pink). Therefore, during the New York session the AUD/USD pair failed to hold this level and the price was pushed towards the 1.0178 level (end of the 5 wave). Today this currency pair is currently trading around 1.0250 level and we are expecting to see the lower price for the development of the corrective wave 2 (coloured pink).In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (1.0153-1.0275) with Take Profit 1 at 1.0206(61.8% of wave 1) and Take Profit 2 at 1.0183(78.6% of wave 1). Resistance point at 1.0300 can be used as Stop Loss point. Support and Resistance Levels (S3) 1.0113 (S2) 1.0145 (S1) 1.0165 (PP) 1.0197 (R1) 1.0229 (R2) 1.0249 (R3) 1.0281 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.0270 with Stop Loss at 1.0300 Take Profit 1 at 1.0206 and Take Profit 2 at 1.0183 are recommended.

GBP/JPY Elliott Wave The GBP/JPY pair finished corrective 4 wave (coloured blue) of the bigger (3) wave at 61.8% of the 2 wave yesterday. During the Asian session, we could observe an ascending movement towards the 123.50 level. Therefore, during the early European session, the GBP/JPY pair did not manage to hold this level and the price retraced towards the 123.05. During the New York session we could observe continuation of the bullish mood from Asian session and the price reached a new daily high at 123.63 level (end of the 4 wave). At the moment we can observe the price around 123.20 level and we are expecting to see the price around 122.00 today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance point at 123.60 can be used as Stop Loss point. Support and Resistance Levels (S3) 122.69 (S2) 122.96 (S1) 123.12 (PP) 123.39 (R1) 123.66 (R2) 123.82 (R3) 124.09 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 123.00 with Stop Loss at 123.60, Take Profit 1 at 122.52, and Take Profit 2 at 120.69 are recommended.

AUD/USD Elliott Wave The AUD/USD pair was trading in a sideways move on Monday developing corrective wave 2 (coloured blue). During the European session, we could observe a descending movement towards the 1.0153 level where this currency pair found support and started pushing higher. We can consider this move as the end of the corrective wave 2 (coloured blue). Therefore, during the New York session the AUD/USD pair continued to its bullish mood from the second half of the EU session and the price retraces back to the open price (around 1.0210 level). Today during the Asian session, the price fell back to the 1.0160 level and we are expecting to see a higher price soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9968-1.0328-1.0153) with Take Profit 1 at 1.0471 (100% of wave 1) and Take Profit 2 at 1.0694(161.8% of wave 1). Support at 1.0100 can be used as Stop Loss point. Support and Resistance Levels (S3) 1.0133 (S2) 1.0155 (S1) 1.0169 (PP) 1.0191 (R1) 1.0213 (R2) 1.0227 (R3) 1.0249 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the upward movement. That is why long positions at level 1.0255 with Stop Loss at 1.0100, Take Profit 1 at 1.0471, and Take Profit 2 at 1.0694 are recommended.

GBP/JPY Elliott Wave Last week the GBP/JPY pair was trading in a downward channel developing impulsive wave 3 (coloured blue) of the bigger (3) wave (coloured green). During the Friday's European session we could observe an ascending move from 123.73 towards the 124.21 level. Therefore, during the New York session, the GBP/JPY pair did not manage to hold this level and we could observe continuation of the bigger bearish mood. Today during the Asian, session this exotic currency reached a new 6 days low at 122.91 level and we can consider this move as the end of the wave 3 (coloured blue). At the moment, the GBP/JPY pair is developing a corrective wave 4 and we are expecting to see the bearish mood again within this pair soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Invalidation point at 124.29 can be used as a Stop Loss point. Support and Resistance Levels (S3) 122.34 (S2) 122.80 (S1) 123.08 (PP) 123.55 (R1) 124.01 (R2) 124.29 (R3) 124.76 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why short positions at level 123.00 with Stop Loss at 124.30 Take Profit 1 at 122.52 and Take Profit 2 at 120.69 are recommended.

AUD/USD Elliott Wave Last Friday the AUD/USD pair was trading in a downward move developing corrective wave 2 (coloured blue) of the bigger (3) wave (coloured green). During the Asian and European sessions, we could observe descending movement towards the new daily low of 1.0240. Therefore, during the early New York session, the AUD/USD pair continued trading in a bearish mood and price reached a new daily low at 1.0178 level. Today we could observe the price trading around 1.0170 and we are expecting to see the price around 1.0110 level. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci Retracements (0.9968-1.0328) with Take Profit at 1.0106(61.8% of wave 1). Resistance point at 1.0242 can be used as a Stop Loss point. Support and Resistance Levels (S3) 1.0114 (S2) 1.0157 (S1) 1.0184 (PP) 1.0227 (R1) 1.0270 (R2) 1.0297 (R3) 1.0340 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why short positions at level 1.0160 with Stop Loss at 1.0242 and Take Profit at 1.0106 are recommended.