Elliott Wave Analysis by Admiral Markets

[Admiral Markets]

Daily Wave Analysis for 8 August 2014

EURUSD

The wave 4 (orange) usually has a retracement ending at the 23.6% and 38.2% Fibonacci retracement levels. A break above the red line would invalidate wave 4.

4 hour EURUSD:

A breakout (red arrow) could occur below the support trend line (green).

60 min EURUSD:

GBPUSD

The GBPUSD could be in a bearish wave 5 (magenta).

4 hour GBPUSD:

The green horizontal line represents the weekly bottom.

60 min GBPUSD:

USDJPY

The USDJPY is consolidating in a narrow range between support (green) and resistance (red/purple).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 19 August 2014

EURUSD

The wave 4 (orange) usually has a retracement ending at the 23.6% and 38.2% Fibonacci retracement levels. A break above the red line would invalidate wave 4 (orange).

4 hour EURUSD:

A breakout (red arrows) could occur below support (green lines) towards Fibonacci targets.

60 min EURUSD:

GBPUSD

The GBPUSD is completing a bearish wave 5 (magenta).

4 hour GBPUSD:

There could be a 5 wave (dark red) within the 5th wave. A breakout (red arrows) could occur below support (orange line) towards Fibonacci targets.

60 min GBPUSD:

USDJPY

The USDJPY is consolidating in a narrow range between support (green) and resistance (purple/red).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 20 August 2014

EURUSD

The wave 5 (orange) is falling towards Fibonacci targets but could also expect potential support at the weekly horizontal levels (blue).

4 hour EURUSD:

Yesterday’s bearish breakout is working out nicely and price is heading towards targets.

60 min EURUSD:

GBPUSD

The GBPUSD is completing a bearish wave 5 (magenta).

4 hour GBPUSD:

Yesterday’s bearish breakout is working out nicely and price is heading towards targets.

60 min GBPUSD:

USDJPY

The USDJPY is consolidating in a narrow range between support (green) and resistance (purple/red).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 21 August 2014

EURUSD

The wave 5 (orange) is falling towards Fibonacci targets. The main target is usually the 61.8% (blue) Fibonacci level, which is equal to the weekly bottom (blue line) at +/- 1.31.

4 hour EURUSD:

The bearish breakout has extended itself with more 5 wave patterns within wave 3 (blue).

60 min EURUSD:

GBPUSD

The GBPUSD is completing a bearish wave 5 (magenta).

4 hour GBPUSD:

Wave 5 (dark red) is turning into an extend downtrend. Yesterday’s spike up was a wave 4 (red).

60 min GBPUSD:

USDJPY

The USDJPY is reaching the top of the consolidation (thick red line). A break above it could change the wave count into an impulsive breakout.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 22 August 2014

EURUSD

Price reached the bottom of the downtrend channel (orange) and could retrace for a wave 4 (orange).

4 hour EURUSD:

Price could be in a retracement for wave 4, which often sees a turnaround at the 38.2% Fibonacci retracement level (1.33).

60 min EURUSD:

GBPUSD

The GBPUSD is completing a bearish wave 5 (magenta).

4 hour GBPUSD:

Price seems to have completed 5 waves (red) which means a retracement could occur.

60 min GBPUSD:

USDJPY
Price is struggling to break through the top of the daily chart consolidation (red line).

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 25 August 2014

EURUSD

Price has reached the minimum wave 3 (orange) target (100%) – although usually wave 3’s tend to get lower.

4 hour EURUSD:

Price has reached the 61.8% target of wave 5 (blue). If price continues with its down trend, then the next target could be at 1.31 (green) – 1.3123 (78.6% Fibonacci).

60 min EURUSD:

GBPUSD

Five waves (purple) down of bigger wave 5s seem to be complete, which means a retracement could occur.

4 hour GBPUSD:

If the downtrend does continue, then wave count will get extended (wave 3 (dark red) will become wave 1 of a lower degree).

60 min GBPUSD:

USDJPY

The USDJPY is trying to break above the top of the consolidation (red line). A break has lead to a change in wave count (from corrective to impulsive).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 26 August 2014

EURUSD

Price has reached the minimum wave 3 (orange) target (100%) – although usually wave 3’s tend to get lower.

4 hour EURUSD:

The weekly support (green) is near 1.31 but it seems like waves 5 (magenta and blue) are near completion.

60 min EURUSD:

GBPUSD

A 5-wave structure seems to be complete, which means a retracement of that swing high and swing low could occur.

4 hour GBPUSD:

If the downtrend does continue, then wave count will get extended (wave 3 (dark red) will become wave 1 of a lower degree (without price crossing above red line).

60 min GBPUSD:

USDJPY

Wave 3 (blue) has not managed to pull away from wave 1 (blue), which means that a corrective count could still be very likely. The break of the resistance (red) has been short lived so far.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 27 August 2014

EURUSD

Price has reached the minimum wave 3 (orange) target (100%) – although usually wave 3’s tend to get lower such as the 161.8% Fibonacci target (green).

4 hour EURUSD:

Yesterday price managed to break the bear flag (blue lines) to the downside. If price does make a retracement then it could be for a wave 4 and 5 (magenta).

60 min EURUSD:

GBPUSD

A 5-wave structure seems to be complete, which means a retracement of that swing high and swing low could occur.

4 hour GBPUSD:

If the downtrend does continue, then wave count will get extended and wave 3 (dark red) will become wave 1 of a lower degree (but price cannot cross above red line).

60 min GBPUSD:

USDJPY

Wave 3 (blue) has not managed to pull away from wave 1 (blue), which means that a corrective count could still be very likely. The break of the resistance (red) has been short lived so far.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 2 September 2014

EURUSD

Price has accelerated its bearish downtrend but is facing a major level (daily bottom (green)).

4 hour EURUSD:

The green bottom at 1.30 and the 61.8% Fibonacci target near 1.30 seem to be the most prominent targets for the moment.

60 min EURUSD:

GBPUSD

The bullish retracement of the bearish swing has been very slow and corrective so far, which is often a clue that a trend could continue (down in this case).

4 hour GBPUSD:

A breakout (red arrows) could occur below support (magenta) down to for instance the round number of 1.65

60 min GBPUSD:

USDJPY

A shallow wave 4 (green) and a renewed bullish momentum (wave 5 green) seem to confirm the current impulsive 123 (blue).

4 hour USDJPY:

Price could make extensions within the wave 3 (dark blue).

60 min USDJPY:

Original analysis is provided by Admiral Markets

 

[Admiral Markets]

Daily Wave Analysis for 3 September 2014

EURUSD

Price has accelerated its bearish downtrend (orange channel) but is facing a major level (daily bottom (green)).

4 hour EURUSD:

The weekly support (green) at 1.31 and the divergence between the bottoms (blue line) could cause a temporary retracement to the upside. I think it is best to keep an eye on the bottom (green) and top of trend channel (orange) for further information.

60 min EURUSD:

GBPUSD

The massive GU downtrend continues but now faces weekly support (green).

4 hour GBPUSD:

Yesterday’s anticipated breakout (seen in wave analysis 2nd September) indeed did occur and price has been falling nicely ever since.

60 min GBPUSD:

USDJPY

A shallow wave 4 (green) and a renewed bullish momentum (wave 5 green) seem to confirm the current impulsive 123 (blue).

4 hour USDJPY:

Price could make extensions within the wave 3 (dark blue).

60 min USDJPY:

Original analysis is provided by Admiral Markets