Elliott Wave Analysis by Admiral Markets

[Admiral Markets]

Daily Wave Analysis for 7 July 2014

EURUSD

The downside movement could be part of a potential ABC (magenta) to complete wave X (blue).

4 hour EURUSD:

The EURUSD could potentially break out (green and red arrows) if price breaks above resistance trend lines (brown and orange) or below support (Fib level).

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with the typical presence of divergence.

4 hour GBPUSD:

A potential bounce and breakout (green arrows) could occur for a 5th wave (brown) up to its Fibonacci targets (100% / 161.8%).

60 min GBPUSD:

USDJPY

Price could be making a wave 4 and 5 (red) of a potential ABC zigzag (black).

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 8 July 2014

EURUSD

Whether the potential ABC (magenta) to complete wave X (blue) has been completed remains to be seen in today’s price action.

4 hour EURUSD:

The EURUSD could potentially break out (green and red arrows) if price breaks above resistance trend lines (brown and orange) or below support (Fib level).

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with a typical presence of divergence.

4 hour GBPUSD:

A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%).

60 min GBPUSD:

USDJPY

Price could be completing a wave WXY (purple).

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 9 July 2014

EURUSD

Although price made smaller gains to the upside yesterday, it did not provide clear guidance for the wave count. An ABC (magenta) could have been completed but remains to be confirmed.

4 hour EURUSD:

The EURUSD could potentially break out (green and red arrows) if price breaks above resistance trend lines (purple top) or below support (Fib level).

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with a typical presence of divergence.

4 hour GBPUSD:

A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%).

60 min GBPUSD:

USDJPY

Price moved lower in yesterday’s trading but has bounced off the 78.6% target, therefore the current wave count is showing the potential for a move up towards the waves Y (blue, green).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 10 July 2014

EURUSD

It is more likely now that a waxe X (blue) has been complete at the 61.8% Fibonacci target, which would then be followed by a wave Y (blue).

4 hour EURUSD:

The EURUSD could potentially break out (green arrows) if price breaks above resistance trend lines (purple and red) .

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with a typical presence of divergence.

4 hour GBPUSD:

A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%). The wave count will consider 5 waves to be completed if price break below current wave 4 (brown).

60 min GBPUSD:

USDJPY

Price is making many consolidations but there is a chance that wave X (purple) is completed – unless price breaks below the bottom.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 11 July 2014

EURUSD

Overall price remains in a tight consolidation (red and green lines) and it can continue with consolidating in between that support and resistance with various forms of corrective movements.

4 hour EURUSD

The EURUSD is making a small triangle (blue trend lines). A break out (green and red arrows) could occur if price breaks above or below it.

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with a typical presence of divergence.

4 hour GBPUSD:

A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%). The wave count will consider 5 waves to be completed if price break below current wave 4 (brown). The wave 4 is taking unusually long to develop which could be a warning that the current wave count will change (see 4 vs 3 time Fib ratios).

60 min GBPUSD:

USDJPY

Price did break below the bottom yesterday and has expanded the corrective pattern.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 14 July 2014

EURUSD

Overall price remains in a tight consolidation (red and green lines) and it can continue with consolidating in between that support and resistance with various forms of corrective movements, such as a wave Y (blue).

4 hour EURUSD:

The EURUSD is making a triangle (purple trend lines). A break out (green and red arrows) could occur if price breaks above or below it.

60 min EURUSD:

GBPUSD

Price is in a potential 5th wave with a typical presence of divergence.

4 hour GBPUSD:

A potential breakout (green arrows) could occur for a 5th wave (brown) up to the Fibonacci targets (100% / 161.8%). The wave count will consider 5 waves to be completed if price break below current wave 4 (brown). The wave 4 is taking unusually long to develop which could be a warning that the current wave count could change (see 4 vs 3 time Fib ratios).

60 min GBPUSD:

USDJPY

It is not clear whether wave X (purple) has been completed or whether price will go to lower targets.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 15 July 2014

EURUSD

Overall price remains in a tight consolidation (red and green lines) and it can continue with consolidating in between that support and resistance with various forms of corrective movements, such as a wave X and Y (blue).

4 hour EURUSD:

The EURUSD is making a triangle (purple and orange trend lines). A break out (green and red arrows) could occur if price breaks above or below it.

60 min EURUSD:

GBPUSD

Price broke the bottom of the sideways zone that recently was built (red and green dotted lines), which indicates that the wave 4 structure was broken and waves 5 (brown and blue) have already completed. Whether the bigger wave 5 (green) is complete remains to be seen.

4 hour GBPUSD:

The broken weekly resistance (solid green) at 1.7040 could now be a key support level.

60 min GBPUSD:

USDJPY

Assuming that the wave X (green) is indeed completed, price could be heading up towards a wave W (purple).

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 16 July 2014

EURUSD

Overall price remains in a tight consolidation (red and green lines) and it can continue with consolidating in between that support and resistance with various forms of corrective movements, such as a wave Y (magenta) wave X (blue).

4 hour EURUSD:

The EURUSD broke below the triangle mentioned yesterday and is falling towards the Fibonacci targets. A break below the daily support line (green) would increase the chance of a wave change.

60 min EURUSD:

GBPUSD

Yesterday’s news spike changed the wave count and prefer to consider this bullish move as part of the wave 5’s (brown, blue, green).

4 hour GBPUSD:

Price has moved towards the Fibonacci targets but price did not manage to break above the resistance (red line).

60 min GBPUSD:

USDJPY

Assuming that the wave X (green) is indeed completed, price could be heading up towards a wave W (purple).

60 min USDJPY:

“Original analysis is provided by Admiral Markets”

 

[Admiral Markets]

Daily Wave Analysis for 17 July 2014

EURUSD

The break out of the triangle (purple lines) has seen price fall towards the Fibonacci levels. A crucial level for bears and bulls is the 1.35 round number due to the horizontal support (green line) and bottom of consolidation.

4 hour EURUSD:

The 1 hour has strong bearish momentum, which could indicate an impulsive count (indicated by brown numbering).

60 min EURUSD:

GBPUSD

The GBPUSD price remains above the broken monthly resistance of 1.7040 (red-green) line and could be heading towards further Fibonacci targets.

4 hour GBPUSD

Price has built a small triangle recently (purple lines). A break (green arrows) above it could indicate the continuation or price up to Fibonacci targets.

60 min GBPUSD:

USDJPY
Wave W (purple) completed yesterday once price broke through the support trend line (magenta). There is chance for price to complete a wave X and Y (purple).

60 min USDJPY:

“Original analysis is provided by Admiral Markets”

 

[Admiral Markets]

Daily Wave Analysis for 18 July 2014

EURUSD

As price is approaching the major support level of 1.35, the ABC correction could be part of a wave X (blue).

4 hour EURUSD:

The 1 hour has strong bearish momentum and waves 4 and 5 (dark red) could be remaining.

60 min EURUSD:

GBPUSD

As long as price remains within the uptrend channel (blue) a bullish rebound is possible and price could eventually move towards further Fibonacci targets. Also, the broken monthly resistance of 1.7040 (red-green) is an important bull versus bear line.

4 hour GBPUSD:

A break below the bottom (blue line) could lead to the 5 waves completed at the most recent tops. A breakout (green arrows) could occur above resistance.

60 min GBPUSD:

USDJPY

Yesterday’s bounce at the 100% Fibonacci target could be part of wave X (purple).

60 min USDJPY:

“Original analysis is provided by Admiral Markets”