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NDelic
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GBP/JPY Elliott Wave For the last few days the GBP/JPY pair was trading in an upward move, impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green) was developing. Yesterday during the Asian and European sessions we could observe sideways move between 131.53 and 131.23 level. Therefore, during the New York session the GBP/JPY pair started pushing higher and the price reached a new daily high at 131.71 level. At the moment the price is trading around 132.50 level and we are expecting to see the price lower when development of the corrective 4 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 130.70 (38.2% of wave 3). To reduce the risk, we can use resistance at 132.80 level as stop loss. Support and Resistance (S3) 130.99 (S2) 131.22 (S1) 131.37 (PP) 131.60 (R1) 131.83 (R2) 131.98 (R3) 132.21 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 131.30 with stop loss 131.80 and take profit at 130.70 are recommended.
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USD/CHF Elliott Wave Since our last analysis the USD/CHF pair was trading in a downward move like we expected, impulsive (5) wave (coloured pink) of the bigger 3 wave (coloured blue) was developing. Yesterday during the European and the first half of the New York session we could observe descending movement from 0.9300 toward the 0.9552 level. Therefore, during the second half of the New York session this major pair did not manage to hold this level and the price started pushing higher reaching a new session high at 0.9297 level. Today the USD/CHF pair is trading around 0.9257 level and we are expecting to see the price higher today when development of the corrective 4 wave starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9310(38.2% of wave 3). To reduce the risk, we can use support at 0.9230 level as stop loss. Support and Resistance (S3) 0.9227 (S2) 0.9246 (S1) 0.9258 (PP) 0.9277 (R1) 0.9296 (R2) 0.9308 (R3) 0.9327 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9275 with stop loss 0.9230 and take profit at 0.93100 are recommended.
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GBP/USD Elliott Wave Since our last analysis the GBP/USD pair was trading in a downward move, corrective © wave (coloured pink) of the bigger 4 wave (coloured blue) was developing. Yesterday, during the Asian session we could observe descending movement from 1.617 toward the 1.5962 level and we can consider this move as the end of the 4 wave (coloured blue). Therefore, during the European and New York sessions the GBP/USD pair did not manage to hold this level and the price retraced back to 1.6017 level. At the moment this currency pair is trading around 1.6003 level and we are expecting to see the price higher today. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.6073 (100% of wave 1). To reduce the risk, we can use support at 1.5967 level as stop loss. Support and Resistance (S3) 1.5937 (S2) 1.5961 (S1) 1.5976 (PP) 1.6000 (R1) 1.6024 (R2) 1.6039 (R3) 1.6063 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the upward movement. That is why long positions at level 1.6010 with stop loss 1.5967 and take profit at 1.6073 are recommended.
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GBP/USD Elliott Wave For the last few days the GBP/USD pair was trading in a sideways move, corrective 4 wave (coloured blue) of the bigger (1) wave (coloured green) was developing. Yesterday during the European session we could observe descending movement from 1.6048 toward the 1.6013 level and we can consider this move as the end of the corrective (A) wave (coloured pink). Therefore, during the New York session the GBP/USD pair did not manage to hold this level and the price started pushing higher reaching a new daily high at 1.6053 level. W� can consider this move as the end of the ( wave (coloured pink). At the moment this currency pair is trading around 1.6012 level and we are expecting to see the price higher today when development of the final 5 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.6090 (100% of wave 1). To reduce the risk, we can use invalidation at 1.5936 level as stop loss. Support and Resistance (S3) 1.5982 (S2) 1.6000 (S1) 1.6011 (PP) 1.6029 (R1) 1.6047 (R2) 1.6058 (R3) 1.6076 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the upward movement. That is why long positions at level 1.5987 with stop loss 1.5936 and take profit at 1.6090 are recommended.
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USD/CHF Elliott Wave Since our last analysis the USD/CHF pair was trading in an upward move like we expected, corrective (4) wave (coloured pink) of the bigger 3 wave (coloured blue) was developing. Yesterday during the Asian and European sessions we could observe descending movement from 0.9256 toward the 0.9307 level. Therefore, during the New York session this major pair continued trading in a bullish mood and the price reached a new daily high at 0.9325 level. At the moment the USD/CHF pair is trading around 0.9309 level and we are expecting to see the price lower today when development of the 5 impulsive wave starts. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9224 (100% of wave 1). To reduce the risk, we can use invalidation at 0.9358 level as stop loss. Support and Resistance (S3) 0.9222 (S2) 0.9249 (S1) 0.9266 (PP) 0.9294 (R1) 0.9321 (R2) 0.9338 (R3) 0.9366 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the downward movement. That is why short positions at level 0.9305 with stop loss 0.9358 and take profit at 0.9224 are recommended.
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USD/JPY Elliott Wave For the last few days the USD/JPY pair was trading in a downward move, corrective (A) wave (coloured blue) of the bigger ( wave (coloured green) was developing. During the Friday's Asian session we could observe descending movement from 82.38 toward the 82.05 level. Therefore, during the European and New York sessions the USD/JPY pair did not manage to hold this level and the price started pushing higher reaching a new daily high at 82.48 level. We can consider this move as the end of the ( wave (coloured purple) of the bigger A wave (coloured blue). At the moment this currency pair is trading around 82.16 level and we are expecting to see the price lower at the end of this week. In accordance with our wave rules and taking into account that the wave B should retrace 61.8% of the wave A, we can define the potential targets with measuring wave A with take profit at 80.51 (61.8% of wave A). To reduce the risk, we can use resistance at 82.80 level as stop loss. Support and Resistance (S3) 81.67 (S2) 81.87 (S1) 82.11 (PP) 82.31 (R1) 82.55 (R2) 82.75 (R3) 82.99 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the downward movement. That is why short positions at level 82.15 with stop loss 82.80 and take profit at 81.51 are recommended.
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USD/CHF Elliott Wave Last week the USD/CHF pair was trading in a downward move, impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green) was developing. During the Friday's Asian and European sessions we could observe descending movement from 0.9358 toward the 0.9305 level. Therefore, during the New York session the USD/CHF pair continued trading in a bearish mood and the price reached the level of 0.9264. At the moment this major pair is trading around 0.9297 level and we are expecting to see small bullish mood today when development of the corrective 4 wave (coloured purple) starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 50% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9313 (50% of wave 3). To reduce the risk, we can use support at 0.9210 level as stop loss. Support and Resistance (S3) 0.9148 (S2) 0.9206 (S1) 0.9241 (PP) 0.9299 (R1) 0.9334 (R2) 0.9392 (R3) 0.9427 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the upward movement. That is why long positions at level 0.9223 with stop loss 0.9210 and take profit at 0.9313 are recommended.
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USD/CHF Elliott Wave Since our last analysis the USD/CHF pair was trading in a downward movement like we expected, impulsive wave 3 (coloured blue) of the bigger (3) wave (coloured green) was developing. Yesterday during the Asian and European sessions we could observe strong descending movement from 0.9457 toward the 0.9396 level. Therefore, during the New York session this pair continued trading in a bearish mood and the price reached a new low at 0.9358 level; we can consider this move as the end of the impulsive (1) wave (coloured pink) of the bigger 3 wave (coloured blue). At the moment the price is trading around 0.9369 level and we are expecting to see the price higher soon. In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9420 (61.8% of wave 1). To reduce the risk, we can use invalidation at 0.9358 level as stop loss. Support and Resistance (S3) 0.9365 (S2) 0.9369 (S1) 0.9372 (PP) 0.9376 (R1) 0.9380 (R2) 0.9383 (R3) 0.9387 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why Long positions at level 0.9380 with stop loss 0.9358 and take profit at 0.9420 are recommended.
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Gold Elliott Wave Gold has been trading in a sideways move since Monday, corrective wave 2 (coloured blue) of the bigger (3) wave (coloured green) was developing. Yesterday during the Asian session we could observe ascending movement from 1,722.55 toward the 1,728.70 level. Therefore, during the European and New York sessions this commodity continued trading higher and the price reached new daily high at 1,732.38 level. At the moment Gold is trading around 1,729.80 level and we are expecting to see the price higher today. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1,767.60 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1,704.86 level as stop loss. Support and Resistance (S3) 1,707.3 (S2) 1,712.9 (S1) 1,720.9 (PP) 1,726.5 (R1) 1,734.5 (R2) 1,740.1 (R3) 1,748.1 Trading Forecast Proceeding from Elliott Wave rules today, the price is expected to begin the upward movement. That is why Long positions at level 1,7320 with stop loss 1,704.86 and take profit at 1,767.60 are recommended.
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EUR/USD Elliott Wave Since our last analysis the EUR/USD pair was trading in an upward movement, impulsive wave (1) (coloured purple of the bigger 3 wave (coloured blue) was developing. During the Monday's Asian and European sessions we could observe ascending movement from 1.2740 towards the 1.2787 level. Therefore, during the New York session this major pair continued trading in a bullish mood and the price reached a new high at 1.2819 level. We can consider this move as the end of the (1) wave. At the moment the EUR/USD pair is trading around 1.2800 level and we are expecting to see the price at 1.2911 level today. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.2911 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1.2765 level as stop loss. Support and Resistance (S3) 1.2711 (S2) 1.2741 (S1) 1.2760 (PP) 1.2791 (R1) 1.2821 (R2) 1.2840 (R3) 1.2871 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2820 with stop loss 1.2765 and take profit at 1.2911 are recommended.
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USD/JPY Elliott Wave For the last few days the USD/JPY pair was trading in a sideways move, corrective 4 wave (coloured blue) of the bigger (A) wave (coloured green) was developing. Yesterday during the European session we could observe price trading between 81.33 and 81.10 level. Therefore, during the New York session this major pair started pushing higher and price reached 81.42 level. We can consider this move as the end of the ( wave (coloured purple) of the bigger 4 wave. Today the USD/JPY pair is trading around 81.20 level and we are expecting to see the price at 80.62 soon. In accordance with our wave rules and taking into account that the wave C should retrace 161.8% of the wave A, we can define the potential targets with measuring wave A with take profit at 80.62 (161.8% of wave A). To reduce the risk, we can use invalidation at 81.43 level as stop loss. Support and Resistance (S3) 80.85 (S2) 81.04 (S1) 81.16 (PP) 81.36 (R1) 81.55 (R2) 81.67 (R3) 81.87 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 81.10 with stop loss 81.43 and take profit at 80.62 are recommended.
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GOLD Elliott Wave Since our last analysis gold was trading in a sideways movement, impulsive (3) wave (coloured green) started to develop. During the Friday’s European session we could observe descending movement from 1,715.88 towards the 1,705.43 level. Therefore, during the New York session this commodity did not manage to hold this level and the price retraced back to 1,715.90 level. At the moment gold is trading around 1,720.50 level and we are expecting to see the price around 1,811.00 level this week. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1,811.90 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1,704.86 level as stop loss. Support and Resistance (S3)1,696.2 (S2) 1,700.9 (S1) 1,707.8 (PP) 1,712.5 (R1) 1,719.4 (R2) 1,724.1 (R3) 1,731.0 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1,716.00 with stop loss 1,704.86 and take profit at 1,811.90 are recommended.
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EUR/USD Elliott Wave Since our last analysis the EUR/USD pair was trading in a downward movement, corrective wave (2) (coloured green) of the bigger (1) wave (coloured red) was developing. During the Friday’s Asian and European sessions we could observe strong descending movement from 1.2783 towards the 1.2723 level. Therefore, during the early New York session this major pair continued trading in a bearish mood and the price reached a new 3 days low at 1.2690 level. We can consider this move as the end of the wave (2) (coloured green). At the moment the EUR/USD pair is trading around 1.2760 level and we are expecting to see the price around 1.2900 level when development of the (3) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.2907 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1.2690 level as stop loss. Support and Resistance (S3) 1.2644 (S2) 1.2680 (S1) 1.2702 (PP) 1.2738 (R1) 1.2774 (R2) 1.2796 (R3) 1.2832 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2740 with stop loss 1.2690 and take profit at 1.2907 are recommended.
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GOLD Elliott Wave Last week Gold was trading in a slight downward movement, corrective 2 wave (coloured green) of the bigger wave 1 (coloured red) was developing. Yesterday during the Asian and European sessions we could observe descending movement from 1,728.84 towards the 1,720.31 level. Therefore, during the New York session this commodity started pushing higher reaching a new 2 days high at 1,733.33 level. We can consider this move as the end of the corrective B wave (coloured blue). At the moment Gold is trading around 1,724.10 level and we are expecting to see continuation of the bearish mood today. In accordance with our wave rules and taking into account that the wave 2 should retrace 50% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1,705.88 (61.8% of wave 1). To reduce the risk, we can use resistance at 1,734.20 level as stop loss. Support and Resistance (S3) 1,708.8 (S2) 1,714.6 (S1) 1,722.4 (PP) 1,728.2 (R1) 1,736.0 (R2) 1,741.8 (R3) 1,749.6 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1,722.00 with stop loss 1,734.20 and take profit at 1,705.88 are recommended.
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USD/JPY Elliott Wave Since our last analysis the USD/JPY pair was trading in an upward move, corrective wave A (coloured green) of the bigger wave Y (coloured red) was developing. During the Wednesday’s European session we could observe strong ascending movement that bring this major pair to the 80.00 level. Therefore, during the New York session the USD/JPY pair continued trading in a bullish mood and the price reached a new 5 days high at 80.31 level. We can consider this move as the end of the 3 wave (coloured purple).Today this currency pair is trading around 80.90 level and we are expecting to see the price lower when development of the corrective 4 wave starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 80.28 (38.2% of wave 3). To reduce the risk, we can use resistance at 81.20 level as stop loss. Support and Resistance (S3) 79.05 (S2) 79.40 (S1) 79.62 (PP) 79.97 (R1) 80.32 (R2) 80.54 (R3) 80.89 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 81.00 with stop loss 81.20 and take profit at 80.28 are recommended.
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EUR/JPY Elliott Wave For the last few days the EUR/JPY pair was trading in a downward move, impulsive 3 wave (coloured blue) of the bigger C wave (coloured green) was developing. Yesterday during the Asian and European sessions we could observe descending movement from 101.20 towards the 100.33 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the early New York session the EUR/JPY pair started pushing higher and the price retraced back to 101.20 level. At the moment this currency pair is trading around 101.80 level and we are expecting to see the price lower when development of the final impulsive 5 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 99.41 (100% of wave 1). To reduce the risk, we can use invalidation at 102.17 level as stop loss. Support and Resistance (S3) 99.88 (S2) 100.23 (S1) 100.45 (PP) 100.80 (R1) 101.15 (R2) 101.37 (R3) 101.72 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 101.50 with stop loss 102.17 and take profit at 99.41 are recommended.
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USD/CHF Elliott Wave Since our last analysis the USD/CHF pair was trading in a downward movement like we expected, impulsive wave 1 (coloured green) of the bigger wave C (coloured red) was developing. Yesterday during the European session we could observe ascending movement towards the 0.9512 level and we can consider this move as the end of the corrective B wave (coloured red). Therefore, during the New York session when development of the impulsive 1 wave started this major pair started pushing lower reaching a new daily low at 0.9464 level. At the moment the USD/CHF pair is trading around 0.9450 level and we are expecting to see continuation of the bearish mood today. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9379 (261.8% of wave 1). To reduce the risk, we can use resistance at 0.9500 level as stop loss. Support and Resistance (S3) 0.9436 (S2) 0.9454 (S1) 0.9465 (PP) 0.9483 (R1) 0.9501 (R2) 0.9512 (R3) 0.9530 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9440 with stop loss 0.9500 and take profit at 0.9379 are recommended.
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USD/JPY Elliott Wave Since our last analysis the USD/JPY pair was trading in a downward move like we expected, impulsive (5) wave (coloured purple) of the bigger 3 wave (coloured blue) was developing. During the Asian session we could observe descending movement toward the 79.35 level. Therefore� during the European and New York sessions the USD/JPY pair did not manage to hold this level and the price pushed higher reaching a new daily high at 79.63 level. We can consider this move as the end of the corrective (4) wave (coloured purple). At the moment this currency pair is trading around 79.26 level and we are expecting to see the price higher when development of the 4 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 79.54 (38.2% of wave 3). To reduce the risk, we can use support at 78.80 level as stop loss. Support and Resistance (S3) 79.25 (S2) 79.33 (S1) 79.38 (PP) 79.46 (R1) 79.54 (R2) 79.59 (R3) 79.67 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 79.00 with stop loss 78.80 and take profit at 79.54 are recommended.
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GBP/JPY Elliott Wave For the last few days the GBP/JPY pair was trading in a downward move, impulsive 3 wave (coloured blue) of the bigger wave (3) (coloured green) was developing. Yesterday, during the Asian session we could observe a descending movement from 126.53 towards the 125.97 level. Therefore, during the European and half of the New York sessions this exotic currency started pushing higher reaching a new session high at 125.64 level. Today the GBP/JPY pair is trading around 125.83 level and we are expecting to see the price higher when development of the corrective wave 4 (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the wave 3, we can define the potential targets with measuring wave 3 with take profit at 126.51 (38.2% of wave 3). To reduce the risk, we can use support at 125.40 level as stop loss. Support and Resistance (S3) 125.67 (S2) 125.88 (S1) 126.02 (PP) 126.23 (R1) 126.44 (R2) 126.58 (R3) 126.79 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 125.80 with stop loss 125.40 and take profit at 126.51 are recommended
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USD/JPY Elliott Wave Since our last analysis the USD/JPY pair was trading in a downward movement, impulsivee 3 wave (coloured blue) of the bigger © wave (coloured green) was developing. During the Asian and European sessions this major pair was trading in a sideways movement between 79.95 and 70.80 level and we can consider this movement as end of the corrective 2 wave (coloured blue). Therefore, during the early New York session the USD/JPY pair did not manage to hold this level and the price pushed lower reaching a new daily low at 79.32 level. We can consider this move as the end of the 3 impulsive wave (coloured blue). At the moment this currency pair is trading around 79.49 level and we are expecting to see the price higher when development of the 4 wave ends. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1, with take profit at 81.41 (100% of wave 1). To reduce the risk, we can use support at 79.10 level as stop loss. Support and Resistance (S3) 78.92 (S2) 79.18 (S1) 79.34 (PP) 79.60 (R1) 79.86 (R2) 80.02 (R3) 80.28 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 79.60 with stop loss 79.10 and take profit at 81.41 are recommended.
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USD/CHF Elliott Wave Yesterday the USD/CHF pair was trading in an upward move, impulsive 5 wave (coloured blue) of the bigger wave © (coloured green) was developing. During the Asian session we could observe descending movement from 0.9463 toward the 0.9440 level. Therefore, during the European and New York sessions this major pair did not manage to hold this level and the price reached a new high at 0.9482 level. We can consider this move as the end of the © wave (coloured green) of the bigger ( wave (coloured red). At the moment the USD/CHF pair is trading around 0.9444 level and we are expecting to see continuation of the bearish mood for the next few days. In accordance with our wave rules and taking into account that the wave 2 should retrace 78.6% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9153 (78.6% of wave 1). To reduce the risk, we can use invalidation at 0.9482 level as stop loss. Support and Resistance (S3) 0.9419 (S2) 0.9434 (S1) 0.9444 (PP) 0.9460 (R1) 0.9475 (R2) 0.9485 (R3) 0.9501 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9440 with stop loss 0.9482 and take profit at 0.9153 are recommended.
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USD/JPY Elliott Wave For the last few days the USD/JPY pair was trading in a downward movement, corrective wave © (coloured green) of the bigger wave (4) (coloured red) was developing. Yesterday after the bearish mood in the Asian session we could observe strong ascending movement from 79.80 towards the 80.39 level when European session stats. Therefore, during the early New York session the USD/JPY pair did not manage to hold this level and the price started pushing lower reaching a new daily low at 79.75 level. At the moment this major pair is trading around 79.85 level and we are expecting to see the price around 81.80 level soon. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 81.81 (100% of wave 1). To reduce the risk, we can use support at 79.50 level as stop loss. Support and Resistance (S3) 79.38 (S2) 79.64 (S1) 79.79 (PP) 80.05 (R1) 80.31 (R2) 80.46 (R3) 80.72 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 80.10 with stop loss 79.50 and take profit at 81.81 are recommended.
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USD/CHF Elliott Wave This week the USD/CHF pair was trading in an upward move, corrective © wave (coloured green) of the bigger wave ( (coloured red) was developing. Yesterday during the Asian session we could observe descending movement from 0.9448 toward the 0.9380 level. Therefore, during the European and New York sessions this major pair did not manage to hold this level and the price started pushing higher reaching a new high at 0.9471 level. We can consider this move as the end of the corrective ( wave (coloured red). Today the USD/CHF pair is trading lower and we are expecting to see the price around 0.9150 level when development of the © wave (coloured red) starts. In accordance with our wave rules and taking into account that the wave 2 should retrace 78.6% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9153 (78.6% of wave 1). To reduce the risk, we can use invalidation at 0.9471 level as stop loss. Support and Resistance (S3) 0.9343 (S2) 0.9378 (S1) 0.9399 (PP) 0.9433 (R1) 0.9468 (R2) 0.9489 (R3) 0.9523 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9415 with stop loss 0.9471 and take profit at 0.9153 are recommended.
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USD/CHF Elliott Wave From the early November the USD/CHF pair was trading in an upward move, corrective © wave (coloured green) of the bigger ( wave (coloured red) was developing. Yesterday during the European and New York sessions we could observe strong ascending movement from 0.9398 towards the 0.9448 level and we can consider this move as the end of the 3 wave of the bigger 5 wave (coloured blue). Today the USD/CHF pair continued trading in a bullish mood and the price is currently testing yesterday’s high at 0.9448 level, we expect to see the price lower when development of the final © wave (coloured red) starts. In accordance with our wave rules and taking into account that the wave C should retrace 100% of the wave B, we can define the potential targets with measuring wave B with take profit at 0.9214 (100% of wave . To reduce the risk, we can use resistance at 0.9485 level as stop loss. Support and Resistance (S3) 0.9379 (S2) 0.9397 (S1) 0.9409 (PP) 0.9428 (R1) 0.9446 (R2) 0.9458 (R3) 0.9477 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9425 with stop loss 0.9485 and take profit at 0.9214 are recommended.
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USD/CAD Elliott Wave Yesterday the USD/CAD pair was trading in an upward move, corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green) was developing. During the Asian session we could observe descending movement from 0.9958 towards the 0.9940 level and we can consider this move as the end of the wave B of the bigger 2 wave (coloured blue). Therefore, during the European and New York sessions the USD/CAD pair did not manage to hold this level and the price reached a new daily high at 0.9976 level. We can consider this move as the end of the 2 wave (coloured blue). This currency pair is trading around 0.9955 level at the moment and we are expecting to see the price around 0.9830 level when the development of the 3 impulsive wave starts. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9831 (161.8% of wave 1). To reduce the risk, we can use resistance at 0.9977 level as stop loss. Support and Resistance (S3) 0.9923 (S2) 0.9937 (S1) 0.9946 (PP) 0.9960 (R1) 0.9974 (R2) 0.9983 (R3) 0.9997 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9945 with stop loss 0.9977 and take profit at 0.9831 are recommended.