Elliott Wave Analysis by Admiral Markets

[Admiral Markets]

Daily Wave Analysis for 4 September 2014

EURUSD

Although price is facing a major level (daily bottom (green), there is no divergence between the bottoms which means that a continuation of the downtrend is likely (could be after orange wave 4 though).

4 hour EURUSD:

A contracting triangle (light green lines) is indicating the current indecision.

60 min EURUSD:

GBPUSD

A break below the weekly support (green) could see price fall to the 61.8% Fibonacci target.

4 hour GBPUSD:

Tuesday’s anticipated breakout (seen in wave analysis 2nd September) made 5 bearish waves which could be explained by a wave 3 (dark red). A wave 4 (dark red) could be the next step.

60 min GBPUSD:

USDJPY

Although price is showing signs of bullish momentum, it still needs to break above the monthly top (dark red) at 105.50 before bigger gains could be possible.

4 hour USDJPY:

Price could make extensions within the wave 3 (dark blue) such as a wave 4 and 5 (light blue). A typical turning spot for a wave 4 is the 38.2% Fibonacci (magenta line is the invalidation).

60 min USDJPY:

Original analysis is provided by Admiral Markets

 

[Admiral Markets]

Daily Wave Analysis for 8 September 2014


EURUSD

Price is extending towards the wave 3 (orange) targets; the next could be the 200% level.

4 hour EURUSD:

The bearish breakout (red arrow) could occur after upon the break of the support trend line (green) for a decline towards its wave 5 (blue) targets.

60 min EURUSD:

GBPUSD

Price is in a wave 5 (magenta) downtrend. If the trend continues, the next potential target is at 100% (blue Fib).

4 hour GBPUSD:

A wave 4 (dark red) typically retraces to the 23.6% or 38.2% Fibonacci retracement levels. The latter Fib level also encounters a trend line resistance (orange).

60 min GBPUSD:

USDJPY

In a wave 4 (blue) price tends to continue with the trend at the 23.6% or 38.2% Fibonacci retracement levels.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 9 September 2014

EURUSD

Price is extending towards the wave 3 (orange) targets; the next could be the 200% level.

4 hour EURUSD:

Yesterday’s potential bearish breakout indeed occurred and price is now falling towards Fibonacci targets.

60 min EURUSD:

GBPUSD

With the most recent fall becoming the most impulsive part (strong AO) of the downtrend, the trend could become extended and the wave count is therefore showing this part as a wave 3 (magenta).

4 hour GBPUSD:

Besides the Fibonacci targets and bottom (green), the 1.60 round number can also act as a potential support level.

60 min GBPUSD:

USDJPY

Price has managed to break above the monthly top (dark red line) of 105.50 and a bigger weekly/monthly bullish breakout is taking place.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 16 September 2014

EURUSD

Price is making a bear flag (green lines) within two downtrend channel (blue and purple lines).

4 hour EURUSD:

Adding to the chart are Fibonacci time percentages to have a better grasp when the wave 4 potentially could complete. The trend remains bearish as long as price stays in the downtrend channel (blue). A breakout (red arrows) could occur if price breaks below the support (green) trend line.

60 min EURUSD:

GBPUSD

The GBPUSD seems to have completed a wave 3 (magenta) and is making a wave 4 (magenta) retracement.

4 hour GBPUSD:

The Fibonacci targets and retracements will most likely be the turning spots for the wave 4 (magenta). A breakout (red arrows) could occur if price breaks below the support (green) trend line and 1.62 round number.

60 min GBPUSD:

USDJPY
Price is moving sideways in a bull flag (blue and orange). A breakout (green arrows) could occur above resistance (orange line).

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 17 September 2014

EURUSD

The trend remains bearish as long as price stays in the downtrend channel (blue).

4 hour EURUSD:

A breakout (red arrows) could occur if price breaks below the support (green) trend line.

60 min EURUSD:

GBPUSD

The price action of all GBP pairs could be highly dependent this week on the Scottish independence referendum on Thursday.

4 hour GBPUSD:

The Fibonacci targets and retracements will most likely be the turning spots for the wave 4 (magenta).

60 min GBPUSD:

USDJPY

Price seems to be building a typical flat and sideways wave 4 correction (light blue), which is part of a bullish wave 3 (dark blue).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 19 September 2014

EURUSD

The EURUSD could have completed the 3rd wave (orange) but more confirmation is needed. The price action of all pairs could be volatile depending on the Scottish independence referendum results which are expected to be released on Friday morning (local time).

4 hour EURUSD:

After the bear flag break occurred (green lines) price has been correcting back upwards, which could be a triangle (blue lines).

60 min EURUSD:

GBPUSD

The price action of all GBP pairs could be highly dependent on the Scottish independence referendum results which are expected to be released on Friday morning (local time).

4 hour GBPUSD:

The price action of all GBP pairs could be highly dependent on the Scottish independence referendum results which are expected to be released on Friday morning (local time).

60 min GBPUSD:

USDJPY

The USDJPY is approaching the 110 resistance level (psychological round number).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 22 September 2014

EURUSD

Price is reaching the bottom of two down trend channels (blue and purple) plus a weekly support line (green), which could be difficult for price to break through.

4 hour EURUSD:

Price seems to be building on a falling wedge chart pattern (blue lines).

60 min EURUSD:

GBPUSD

Price could have completed a wave 4 (magenta) correction up to 1.65, which means another bearish momentum could be starting soon.

4 hour GBPUSD:

A breakout (red arrows) below the support trend line (green) could potentially indicate the start of the bearish momentum.

60 min GBPUSD:

USDJPY

The strong trend has caused the wave 5 (blue) to be extended.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 23 September 2014

EURUSD

Price is reaching the bottom of two down trend channels (blue and purple) plus a weekly support line (green), which could be difficult for price to break through.

4 hour EURUSD:

Price seems to be building on a falling wedge chart pattern (purple lines).

60 min EURUSD:

GBPUSD

The 4 hour bottom (purple) could be a support level to keep an eye on. If price breaks below it, then it could indicate the end of wave 4 (magenta).

4 hour GBPUSD:

A breakout (red arrows) below the support trend line (green) could potentially indicate the start of the bearish momentum.

60 min GBPUSD:

USDJPY

The USDJPY is having trouble with trend continuation for the moment (orange and green lines) at the 110 resistance level (psychological round number).

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 24 September 2014

EURUSD

Price is showing a single divergence (purple line on oscillator) between the 2 latest bottoms and price reached the top of a trend channel (blue). The main question is whether price will make a bigger retracement for a wave 4 (orange) or continue with the downtrend.

4 hour EURUSD:

Price seems to be building a falling wedge chart pattern (purple lines).

60 min EURUSD:

GBPUSD

A break below the bottom (blue) could indicate the end of wave 4 (magenta).

4 hour GBPUSD:

A breakout (red arrows) below the support trend lines (green & blue) could indicate the start of the bearish momentum potentially.

60 min GBPUSD:

USDJPY

The wave 4 (magenta) correction has gone to the 50% Fibonacci level. A break of the resistance trend line (orange) could mean a break out for wave 5 (magenta). A break of the support trend line (green) could mean a completion of wave 3 (blue) at the previous top.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 25 September 2014

EURUSD

Price did not break above the top of the down trend channel (blue) and made yet another fall. Traders should be cautious of a big bottom & hence support at 1.2750.

4 hour EURUSD:

On a lower time frame price seems to be in a wave 3 (red).

60 min EURUSD:

GBPUSD

A break below the bottom (blue) could indicate the end of wave 4 (magenta) and the start of a new bearish 5 wave impulse (purple numbers).

4 hour GBPUSD:

A breakout (red arrows) below the support trend line (blue) could indicate the start of the bearish momentum potentially.

60 min GBPUSD:

USDJPY

The USDJPY bounced at the support trend line (dark green) line and could be headed towards of the wave 5 (light blue) at +/- 109.80 and 110.60.

4 hour USDJPY:

“Original analysis is provided by Admiral Markets”