Daily Wave Analysis from InstaForex

[NDelic]

USD/CAD Elliott Wave

For the last few days the USD/CAD pair was trading downwards, corrective wave Y (coloured blue) of the bigger wave (4) (coloured green) was developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 1.0276 towards the 1.0211 level. Therefore, during the New York session this commodity currency did not manage to hold this level and the price retraced back to 1.0226 area. At the moment the AUD/USD pair is trading around 1.0210 level and we expect to see the price above 1.0400 in the next few days. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0467 (100% of wave 1). To reduce the risk, we can use support at 1.0180 level as stop loss.

Support and Resistance

(S3) 1.0121 (S2) 1.0166 (S1) 1.0193 (PP) 1.0238 (R1) 1.0265 (R2) 1.0310 (R3) 1.0337

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0250 with stop loss at 1.0180 and take profit at 1.0467 are recommended.

[NDelic]

USD/CAD Elliott Wave

From our last analysis the primary bullish scenario for the USD/CAD pair is the same, but today we are going to take a potential targets for short-term traders. Yesterday, during the Asian session we could observe ascending movement towards 1.0249 level and we can consider this move as the end of the impulsive wave 1 (coloured blue). Therefore, during the European and New York sessions this major currency did not manage to hold higher and the price has dropped to the 1.0203 area. We can consider this movement as the end of the wave 2 (coloured blue). At the moment the USD/CAD pair is trading around 1.0228 level and we expect to see the price above 1.0300 very soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0315 (161.8% of wave 1). To reduce the risk, we can use support at 1.0200 level as stop loss.

Support and Resistance

(S3) 1.0149 (S2) 1.0176 (S1) 1.0196 (PP) 1.0223 (R1) 1.0243 (R2) 1.0270 (R3) 1.0290

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0235 with stop loss at 1.0200 and take profit at 1.0315 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analyses the USD/CAD pair was trading upwards just like we expected, impulsive wave 3 (coloured blue) of the bigger wave (5) (coloured green) was developing. Yesterday, during the Asian and European sessions we could observe strong ascending movement from 1.0214 towards the 1.0283 level and we can consider this move as the end of the impulsive sub-wave (3) (coloured pink). Therefore, during the New York session this commodity currency did not manage to hold this level and the price has retraced back to 1.0260 level. At the moment the USD/CAD pair is trading around 1.0247 level and we expect to see the price higher again when development of the (4) wave (coloured pink) ends. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0315 (161.8% of wave 1). To reduce the risk, we can use support at 1.0227 level as stop loss.

Support and Resistance

(S3) 1.0156 (S2) 1.0185 (S1) 1.0226 (PP) 1.0255 (R1) 1.0296 (R2) 1.0325 (R3) 1.0366

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0260 with stop loss at 1.0227 and take profit at 1.0315 are recommended.

[NDelic]

AUD/USD Elliott Wave

Since our last analysis the AUD/USD pair was trading sideways, so we adjust our primary count a little bit. Yesterday during the Asian and European sessions we could observe ascending movement from 1.0368 towards the 1.0404 level and we can consider this move as the end of the sub-wave (D) (coloured pink) of the 4 wave (coloured blue). Therefore, during the New York session this currency did not manage to hold this level and the price has retraced all the way to 1.0368. Today after the AUD/USD pair has finished development of the final (E) wave (coloured pink), the price started pushing higher and we expect to see the price above 1.0500 area very soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0500 (161.8% of wave 1). To reduce the risk, we can use support at 1.0350 level as stop loss.

Support and Resistance

(S3) 1.0328 (S2) 1.0347 (S1) 1.0359 (PP) 1.0378 (R1) 1.0397 (R2) 1.0409 (R3) 1.0428

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0400 with stop loss 1.0350 and take profit at 1.0500 are recommended.

[NDelic]

AUD/USD Elliott Wave

After a week in the sideways mood, the AUD/USD pair has finally broke resistance and we could see a clear start of the final 5 wave (coloured blue) of the bigger (3) wave (coloured green). During the Thursday's European session we could observe ascending movement from 1.0362 towards the 1.0412 area. Therefore, during the New York session this major currency has continued to trade in a bullish mood and we could see the price reaching a new high at 1.0457 level. At the moment the AUD/USD pair is trading around 1.0433 and we expect to see the price reaching 1.0500 resistance very soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1 we can define the potential targets with measuring wave 1 with take profit at 1.0500 (161.8% of wave 1). To reduce the risk, we can use support at 1.0390 level as stop loss.

Alternation: Yesterday’s move was very sharp and we may consider Thursday’s high as the end of the 5 wave (coloured blue), and if this count is right you must be prepared for the corrective wave 4 wave.

Support and Resistance

(S3) 1.0287 (S2) 1.0324 (S1) 1.0382 (PP) 1.0419 (R1) 1.0477 (R2) 1.0514 (R3) 1.0572

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0440 with stop loss 1.0390 and take profit at 1.0500 are recommended.

[NDelic]

AUD/USD Elliott Wave

Last week, the AUD/USD pair has finished development of triangle wave 4 (coloured blue) of the bigger (3) wave (coloured green). During the Friday's Asian session we could observe ascending movement from 1.0422 towards 1.0448 level. Therefore, during the European and New York sessions this currency continued trading in a bullish mood and the price reached a new daily high at 1.0460 level. At the moment the AUD/USD pair is trading around 1.0467 level and we expect to see the price around 1.0500 in the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0500 (161.8% of wave 1). To reduce the risk, we can use support at 1.0430 level as stop loss.

Support and Resistance

(S3) 1.0383 (S2) 1.0402 (S1) 1.0422 (PP) 1.0441 (R1) 1.0461 (R2) 1.0480 (R3) 1.0500

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0470 with stop loss 1.0430 and take profit at 1.0500 are recommended.

[NDelic]

USD/CAD Elliott Wave

For the last few weeks the USD/CAD pair was trading in a downwards channel, corrective wave Y (coloured blue) of the bigger wave (4) (coloured green) was developing. Yesterday during the Asian session we could observe descending movement from 1.0173 towards 1.0141 level and we can consider this movement as the end of the corrective (4) wave (coloured green). Therefore, during the European session this commodity currency did not manage to hold this level and the price started pushing higher and reached new daily high at 1.0173 level. Today the USD/CAD pair is trading around 1.0158 level and we expect to see the price pushing higher for the next few weeks. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0425 (100% of wave 1). To reduce the risk, we can use invalidation at 1.0099 level as stop loss.

Support and Resistance

(S3) 1.0131 (S2) 1.0142 (S1) 1.0149 (PP) 1.0159 (R1) 1.0170 (R2) 1.0177 (R3) 1.0187

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0165 with stop loss at 1.0099 and take profit at 1.0425 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analyses the USD/CAD pair was trading upwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) was developing. During the Friday Asian and European sessions we could observe strong upward movement from 1.0156 towards 1.0172 level. Therefore, during the New York session this commodity currency has continued trading in a bullish mood and the price has reached a new two-day high at 1.0178 level. At the moment the USD/CAD pair is trading around 1.0170 and we expect to see the price above 1.0430 area this week. In accordance with our wave rules and taking into account that wave 5 should retrace 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0425 (100% of wave 1). To reduce the risk, we can use invalidation at 1.0100 level as stop loss.

Support and Resistance

(S3) 1.0133 (S2) 1.0145 (S1) 1.0157 (PP) 1.0169 (R1) 1.0181 (R2) 1.0193 (R3) 1.0205

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0200 with stop loss at 1.0100 and take profit at 1.0425 are recommended.

[NDelic]

AUD/USD Elliott Wave

Since our last analysis the AUD/USD pair has been trading downwards, and we changed our wave count a little bit to adjust best possible scenario for today. Yesterday, during the Asian and European session we could observe strong descending movement from 1.0474 towards the 1.0385 level, and we can consider this move as the end of the corrective wave C (coloured blue) of the bigger wave (4) (coloured green). Therefore, during the early New York session this major currency did not manage to hold this level and the price has retraced back to 1.0457 area. We can consider this move as the end of the wave 1 (coloured blue). Today the AUD/USD pair is trading around 1.0418 and we are expecting to see price above 1.0490 area in the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.0507 (161.8% of wave 1). To reduce the risk, we can use support at 1.0385 as stop loss.

Support and Resistance

(S3) 1.0276 (S2) 1.0330 (S1) 1.0382 (PP) 1.0436 (R1) 1.0488 (R2) 1.0542 (R3) 1.0594

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0420 with stop loss 1.0385 and take profit at 1.0507 are recommended

[NDelic]

USD/CAD Elliott Wave

Since our last analysis, the USD/CAD pair has been trading upwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) has been developing. During the Friday's Asian and European sessions we could observe strong ascending move from 1.0129 towards the 1.01235 level and we can consider this movement as the end of the impulsive wave (3) (coloured pink) of the bigger wave 1 (coloured blue). Therefore, during the New York session this major currency did not manage to hold this level and price has retraced back to 1.0157 area. At the moment the USD/CAD pair is developing a triangle pattern that is usual for the corrective wave 4 and we expect to see the price back to bullish mood very soon. In accordance with our wave rules and taking into account that wave 5 should retrace 78.6% of waves 3, we can define the potential targets with measuring wave 3 with take profit at 1.0241 (78.6% of wave 3). To reduce the risk, we can use invalidation point at 1.0141 level as stop loss.

Support and Resistance

(S3) 1.0005 (S2) 1.0064 (S1) 1.0117 (PP) 1.0176 (R1) 1.0229 (R2) 1.0288 (R3) 1.0341

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0175 with stop loss at 1.0141 and take profit at 1.0241 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our invalidation point was broken yesterday, today we consider the alternate wave count for the USD/CAD pair. On the daily chart we can see a development of triangle pattern, but now we got only 3 finished waves, and this give us plenty of room for our future trades. We are currently in the sub-wave C (coloured red) of the wave (D) (coloured blue) and we expect to see the price lower for the next few weeks. In accordance with our wave rules and taking into account that wave D should retrace 61.8% of waves B, we can define the potential targets with measuring wave B with take profit at 0.9838 (61.8% of wave . To reduce the risk, we can use resistance point at 1.0233 level (end of B wave) as stop loss.

Support and Resistance

(S3) 0.9998 (S2) 1.0040 (S1) 1.0071 (PP) 1.0113 (R1) 1.0144 (R2) 1.0186 (R3) 1.0217

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0000 with stop loss at 1.0233 and take profit at 0.9838 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analysis the USD/CAD pair has been trading higher to finish corrective wave B (coloured red) of the triangle D wave (coloured blue). Yesterday, during the Asian and European sessions we could observe strong ascending movement from 1.0133 towards the 1.0224 level. Therefore, during the New York session this commodity pair has continued to trade in a bullish mood and we could observe the price reaching 1.0258 level. We can consider this move as the end of the wave B (coloured red). At the moment the USD/CAD pair is trading around 1.0240 and we expect to see the price below 0.9890 in the next few trading sessions. In accordance with our wave rules and taking into account that wave D should retrace 61.8% of waves B, we can define the potential targets with measuring wave B with take profit at 0.9838 (61.8% of wave . To reduce the risk, we can use resistance point at 1.0290 level as stop loss.

Support and Resistance

(S3) 1.0044 (S2) 1.0089 (S1) 1.0169 (PP) 1.0214 (R1) 1.0294 (R2) 1.0339 (R3) 1.0419

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0230 with stop loss at 1.0290 and take profit at 0.9838 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analysis the USD/CAD pair has been trading downwards, just like we expected, impulsive wave (1) (coloured blue) of the bigger C wave (coloured red) has been developing. During the Thursday's Asian and European sessions we could observe strong descending movement from 1.0276 towards 1.0230 level and we can consider this move as the end of the impulsive wave (1) (coloured blue). Therefore, during the New York session this currency did not manage to hold this level and the price has retraced back to 1.0270 level. We can consider this move as the end of the wave (2) (coloured blue). At the moment the USD/CAD pair is trading around 1.0235 and we expect to see the price below 1.0160 level in the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0163 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0280 as stop loss.

Support and Resistance

(S3) 1.0186 (S2) 1.0207 (S1) 1.0233 (PP) 1.0254 (R1) 1.0280 (R2) 1.0301 (R3) 1.0327

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0230 with stop loss at 1.0280 and take profit at 1.0163 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analysis the USD/CAD pair has been trading downwards, impulsive wave 3 (coloured green) of the bigger wave (3) (coloured blue) has started its development. During the Tuesday's Asian and European sessions we could observe ascending movement from 1.0253 towards the 1.0284 level and we can consider this move as the end of the corrective wave (2) (coloured blue). Therefore, during the New York session this currency did not manage to hold this levels and the price has dropped to the new daily low at 1.0250 level. We can consider this move as the end of the sub-wave 1 (coloured green) of the (3) wave (coloured blue). At the moment the USD/CAD pair is trading around 1.0262 and we expect to see the price below 1.0200 very soon. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0187 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0292 as stop loss.

Support and Resistance

(S3) 1.0210 (S2) 1.0230 (S1) 1.0244 (PP) 1.0264 (R1) 1.0278 (R2) 1.0298 (R3) 1.0312

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0240 with stop loss at 1.0292 and take profit at 1.0187 are recommended

[NDelic]

b]USD/CAD Elliott Wave [/b]

Since our last analysis the USD/CAD pair has been trading side-ways, corrective wave 2 (coloured green) of the bigger wave (3) (coloured blue) has finished its development. During the Wednesday's European session we could observe descending movement from 1.0271 towards the 1.0253 level. Therefore, during the early New York session this currency pair found support and we could observe strong bullish mood that brought the price to 1.0277 level. We can consider this movement as the end of the corrective wave 2 (coloured green). Today the USD/CAD pair is trading lower, around 1.0226 level and we expect to see the continuation of the bearish mood for the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0187 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0255 as stop loss.

Support and Resistance

(S3) 1.0209 (S2) 1.0228 (S1) 1.0240 (PP) 1.0259 (R1) 1.0271 (R2) 1.0290 (R3) 1.0302

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0220 with stop loss at 1.0255 and take profit at 1.0187 are recommended.

[NDelic]

USD/CAD Elliott Wave

Last week the USD/CAD pair has been trading downwards, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) was developing. During the Friday's European session we could observe small ascending movement from 1.0180 towards the 1.0213 level and we can consider this movement as the end of the corrective sub-wave 4 (coloured green) of the (3) wave (coloured blue). Therefore, during the New York session when development of the final wave 5 (coloured green) started this currency did not manage to hold this levels and the price has retraced back to 1.0157 area. At the moment the USD/CAD pair is trading around 1.0140 and we expect to see the price higher when development of the (3) wave ends (our target 261.8% of 3 vs. 1). In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the waves 3, we can define the potential targets with measuring wave 3 with take profit at 1.0188 (38.2 % of wave 3). To reduce the risk, we can use support level at 1.0100 as stop loss.

Support and Resistance

(S3) 1.0091 (S2) 1.0124 (S1) 1.0147 (PP) 1.0180 (R1) 1.0203 (R2) 1.0236 (R3) 1.0259

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0130 with stop loss at 1.0100 and take profit at 1.0188 are recommended.

[NDelic]

GBP/USD Elliott Wave

For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave © (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York session this major pair has continued trading in a bullish mood and price reached a new high at 1.5600. If price go below 1.5500 area today i would like to consider yesterday's high as the end of the corrective wave 2 (coloured blue) and than we can expect to see big downwards move. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3433 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.5800 level as stop loss.

Support and resistance

(S3) 1.5438 (S2) 1.5482 (S1) 1.5518 (PP) 1.5562 (R1) 1.5598 (R2) 1.5642 (R3) 1.5678

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.5500 with stop loss at 1.5800 and take profit at 1.3433 are recommended

[NDelic]

EUR/USD Elliott Wave

Since our last analyses the EUR/USD pair has been trading upwards, so we changed our primary wave count a little bit. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.3067 towards the 1.3131 level and because of this move we need to look the corrective wave (2) (coloured green) as double three. Therefore, during the early New York session this major currency did not manage to hold this level and the price has retraced back to 1.3070 area. At the moment the EUR/USD pair is trading around 1.3105 and we expect to see the price lower when development of the wave (3) (coloured green) starts. In accordance with our wave rules and taking into account that the wave 3 should retrace minimum 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.2920 (100% of wave 1). To reduce the risk, we can use invalidation at 1.3215 as stop loss.

Support and Resistance

(S3) 1.2989 (S2) 1.3028 (S1) 1.3053 (PP) 1.3092 (R1) 1.3117 (R2) 1.3156 (R3) 1.3181

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3050 with stop loss at 1.3215 and take profit at 1.2920 are recommended.

 

[NDelic]

EUR/USD Elliott wave

For the last few days the EUR/USD pair has been trading upwards, corrective wave Y (coloured blue) of the bigger wave (2) (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.3071 towards the 1.3146 level.Therefore, during the New York session this major pair has continued trading in a bullish mood and price has reached a new high at 1.3194 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 1.3154 and we are expecting to see price lower in the next few sessions.In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3103 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.3195 level as stop loss.

Support and resistance

(S3) 1.3017 (S2) 1.3063 (S1) 1.3092 (PP) 1.3139 (R1) 1.3185 (R2) 1.3214 (R3) 1.3261

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3150 with stop loss at 1.3195 and take profit at 1.3103 are recommended.

[NDelic]

USD/CAD Elliott Wave

Last week the USD/CAD pair has finished development of the impulsive wave (5) (coloured blue) and we could observe ascending movement for the start of the wave (A) (coloured blue). During the Friday's Asian and European sessions we could observe ascending movement from 1.0063 towards the 1.0099 level. Therefore, during the New York session this major currency has continued trading in a bullish mood and the price has reached a new daily high at 1.0151 level. We can consider this move as the end of the wave 1 (coloured green). At the moment the USD/CAD pair is trading around 1.0119 level and we expect to see the continuation of bearish mood for the next few weeks. In accordance with our wave rules and taking into account that wave 2 should retrace 61.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0066 (61.8% of wave 1). To reduce the risk, we can use resistance point at 1.0151 level as stop loss.

Support and Resistance

(S3) 1.0013 (S2) 1.0048 (S1) 1.0070 (PP) 1.0105 (R1) 1.0140 (R2) 1.0162 (R3) 1.0197 Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0110 with stop loss at 1.0151 and take profit at 1.0066 are recommended.

[NDelic]

AUD/USD Elliott Wave

Since our last analysis the AUD/USD pair has continued to trade downwards, and our wave count is showing that we are currently at the end of the sub-wave 3 (coloured green) of the bigger wave © (coloured red). Yesterday, during the early Asian session we could observe small ascending movement from 0.9952 towards the 1.0003 level. Therefore, during the European and New York sessions this major currency did not manage to hold this levels and the price has dropped to a new low at 0.9875 level. At the moment the AUD/USD pair is trading around 0.9875 area and we expect to see the retrace in the corrective 4 wave (coloured green). In accordance with our wave rules and taking into account that wave 4 should retrace 23.6% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9977 (23.6% of wave 3). To reduce the risk, we can use invalidation point at 0.9851 level as stop loss.

Support and Resistance

(S3) 0.9713 (S2) 0.9795 (S1) 0.9840 (PP) 0.9922 (R1) 0.9967 (R2) 1.0049 (R3) 1.0094

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.9900 with stop loss at 0.9851 and take profit at 0.9977 are recommended.

[NDelic]

GBP/USD Elliott Wave

For the past few weeks the GBP/USD pair is trading downwards, in Elliott perspective this move represents impulsive wave (1) (coloured green) of the bigger wave 3 (coloured red). During the Friday's Asian and European sessions we could observe strong descending movement from 1.5280 towards the 1.5223 level. Therefore, during the New York session this major pair has continued trading in a bearish mood and the price reached a new low at 1.5157 level. We can consider this move as the end of the final wave 5 (coloured blue) of the bigger wave (1) (coloured green). At the moment the GBP/USD pair is trading around 1.5195 and we expect to see the price higher for the next few days. In accordance with our wave rules and taking into account that wave 2 should retrace minimum 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.5377 (50% of wave 1). To reduce the risk, we can use invalidation point at 1.5157 level as stop loss. Support and Resistance

(S3) 1.4998 (S2) 1.5078 (S1) 1.5122 (PP) 1.5202 (R1) 1.5246 (R2) 1.5326 (R3) 1.5370

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why short positions at level 1.5200 with stop loss at 1.5157 and take profit at 1.5377 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analyses the USD/CAD pair has been trading downwards, so we need to changed our primary wave count a little bit. During Monday's Asian and European sessions we could observe side-ways movement between 1.0296 and 1.0270 area.Therefore, during the early New York session this major currency did not manage to hold this level and the price has dropped to the new daily low at 1.0215 level. We can consider this move as the end of the corrective wave 4 (coloured green). At the moment the USD/CAD pair is trading around 1.0275 level and we expect to see the price higher in the next few days. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 1.0355 (61.8% of wave 3). To reduce the risk, we can use support point at 1.0210 level as stop loss.

Support and Resistance

(S3) 1.0126 (S2) 1.0171 (S1) 1.0205 (PP) 1.0250 (R1) 1.0284 (R2) 1.0329 (R3) 1.0363

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0290 with stop loss at 1.0210 and take profit at 1.0355 are recommended.

[NDelic]

EUR/USD Elliott Wave

For the last few days the EUR/USD pair has been trading upwards, corrective wave (4) (coloured green) of the bigger wave 1 (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 1.2900 towards the 1.2840 level and we can consider this move as the end of the sub-wave B (coloured blue) of the wave (4) (coloured green). Therefore, during the New York session this major currency did not manage to hold this levels and the price has reached a new high at 1.2933 level. At the moment the EUR/USD pair is trading around 1.2950 and we expect to see the price lower when development of the wave (4) ends. In accordance with our wave rules and taking into account that wave 5 should retrace minimum 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 1.2716 (61.8% of wave 3). To reduce the risk, we can use invalidation point at 1.3034 level as stop loss.

Support and Resistance

(S3) 1.2759 (S2) 1.2800 (S1) 1.2852 (PP) 1.2893 (R1) 1.2945 (R2) 1.2986 (R3) 1.3038

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.2900 with stop loss at 1.3034 and take profit at 1.2716 are recommended.

[NDelic]

USD/CAD Elliott Wave

Since our last analyses the USD/CAD pair has been trading upwards, corrective wave B (coloured green) of the bigger wave ( (coloured blue) has finished developing. During the Monday's Asian and European sessions we could observe sideways movement between 1.0312 and 1.0331 level. Therefore, during the New York session this major currency did not manage to hold of this levels and the price has pushed higher reaching 1.0340 area. At the moment the USD/CAD pair is trading around 1.0350 and we expect to see the price lower when development of the wave C (coloured green) starts. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0257 (100% of wave A). To reduce the risk, we can use invalidation point at 1.0360 level as stop loss.

Support and Resistance

(S3) 1.0278 (S2) 1.0292 (S1) 1.0315 (PP) 1.0329 (R1) 1.0352 (R2) 1.0366 (R3) 1.0389

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0340 with stop loss at 1.0360 and take profit at 1.0257 are recommended.