Elliott Wave Analysis by Admiral Markets

[Admiral Markets]

Daily Wave Analysis for 16 October 2014

EURUSD

The EURUSD did indeed, as anticipated yesterday, bounce for a major rally at the wave X (magenta) level. This is most likely a wave Y (blue) of a wave 4 (orange), which usually ends at the 38.2 Fibonacci retracement level (blue).

4 hour EURUSD:

Price could be in an ABC zigzag (green) to complete the wave 4 (orange).

60 min EURUSD:

GBPUSD

The GBPUSD remains in a downtrend but is struggling to break the bigger weekly support level (dark green).

4 hour GBPUSD:

The GBPUSD is moving correctively and choppily to the downside. Yesterday’s spike could be a wave 2 (purple) but is vulnerable to change. For the moment the bottom (green) and resistance trend lines (red-orange) are the main “lines in the sand”.

60 min GBPUSD:

USDJPY
A break below support could translate into price continuing with the downtrend; whereas a break above resistance could mean that the wave 4 is complete.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 17 October 2014

EURUSD

The EURUSD is breaking resistance zones and correcting to higher levels, which is most likely part of a wave 4 (orange).

4 hour EURUSD:

Price could be in an ABC zigzag (green) to complete the wave 4 (orange).

60 min EURUSD:

GBPUSD

The GBPUSD remains in a downtrend but is struggling to break the bigger weekly support level (dark green).

4 hour GBPUSD:

The GBPUSD is moving correctively and choppily and is showing multiple corrective patterns.

60 min GBPUSD:

USDJPY

The USDJPY has retraced back to the 61.8 Fibonacci retracement level and would need to break above the resistance trend line (orange) to potentially confirm a wave 4 (red).

4 hour USDJPY:

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[EugeneCooper]

Hello, can you please suggest the book that will give me all the necessary and comprehensive information about Elliot Waves? Thank you in advance.

 

[Admiral Markets]

Daily Wave Analysis for 21 October 2014

EURUSD

The EURUSD is correcting to higher levels as part of a wave 4 (orange).

4 hour EURUSD:

The EURUSD seems to be in a contracting wedge chart pattern (orange and green trend lines).

60 min EURUSD:

GBPUSD

The GBPUSD downtrend is very choppy and corrective and is struggling to break the bigger weekly support level (dark green).

4 hour GBPUSD:

On this chart the main trend lines of GBPUSD 1 hour chart have been placed. A break of yellow or green trend lines could indicate the direction of this week.

60 min GBPUSD:

USDJPY

Price has reached the 38.2 Fibonacci level of wave 4 vs 3. If price does not use the Fibonacci and support trend lines (green and blue) for a bullish bounce then the alternative could be a bearish break.

60 min USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 22 October 2014

EURUSD

The EURUSD consolidation could take long before its completed because waves 4 (orange) are usually the longest waves in terms of time.

4 hour EURUSD:

The EURUSD is in a range (orange and green trend lines) and could be bouncing off of support.

60 min EURUSD:

GBPUSD

The GBPUSD downtrend is choppy and corrective and is struggling to break the bigger weekly support level (dark green).

4 hour GBPUSD:

It will be interesting to see whether price breaks or bounces at the orange and green trend lines.

60 min GBPUSD:

USDJPY

It is too early to tell whether price is making a bullish rebound or whether price is correcting for more downside. At this point the wave count is showing the rebound as the primary one.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 27 October 2014

EURUSD

The EURUSD bounce at wave X (purple) is most likely part the bigger wave 4 (orange). The main lines to watch are the support (green) and resistance (orange).

4 hour EURUSD:

Fourth waves usually take long to unfold which means that price could consolidate for a lengthy period of time before the main 38.2 Fib target is reached.

60 min EURUSD:

GBPUSD

The GBPUSD could be expanding the wave 4 (red) and with one more wave WXY (dark red).

4 hour GBPUSD:

The GBPUSD 1 hour chart is in a big consolidation with choppy price action and many wedge trend lines (blue, orange, green). The wave count is vulnerable to change depending on how the break out occurs.

60 min GBPUSD:

USDJPY

The USDJPY bullish rebound has layers of resistance to break before indeed a confirmation of the wave 5 (red) of wave 3 (blue) can be made.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 29 October 2014

EURUSD

The EURUSD break of the resistance trend line (orange) could signal the start of the bigger correction up towards the 38.2 Fibonacci retracement.

4 hour EURUSD:

EURUSD’s spike up yesterday was most likely part of a WXY (dark blue) correction.

60 min EURUSD:

GBPUSD

The GBPUSD’s slow trading day yesterday could have been part of wave B (red). The wave count could change if price breaks through resistance (orange) without a dip for wave C (red).

4 hour GBPUSD:

The GBPUSD is in a big consolidation with choppy price action. Wave counts become more vulnerable to change within any wedge and it depends on how the break out occurs.

60 min GBPUSD:

USDJPY

The USDJPY is in a wedge with resistance (orange) and support (blue) trend lines nearby.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 30 October 2014

EURUSD

The EURUSD’s drop during the FOMC statement most likely ended the wave 4 (orange) but a break of the bigger 1.25 bottom (green) would be needed.

4 hour EURUSD:

The bearish momentum was strong with a fall of 200 pips.

60 min EURUSD:

GBPUSD

Yesterday’s strong fall could be part of a new down trend which means that the wave 4 (red) is completed at the recent top.

4 hour GBPUSD:

There is also one scenario possible where price is making an ABC (magenta) as part of a bigger wave X (dark red) consolidation.

60 min GBPUSD:

USDJPY

Yesterday’s FOMC statement helped the USDJPY breakout for the wave 5 (blue) of wave 3 (purple) as expected.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 31 October 2014

EURUSD

The confirmation of the EURUSD starting its 5th wave (orange) is when price breaks below the bottom (green line).

4 hour EURUSD:

One of the most likely alternative wave counts (usually there are multiple options) could be that current wave 1 (purple) is a wave C of a bigger correction, which is still part of wave 4 (orange)

60 min EURUSD:

GBPUSD

Yesterday’s strong fall could be part of a new down trend which means that the wave 4 (red) is completed at the recent top.

4 hour GBPUSD:

An alternative scenario is that price is making an ABC correction as part of a bigger wave X consolidation.

60 min GBPUSD:

USDJPY

The USDJPY uptrend is accelerating and pushing above the resistance top (red line) as the analysis is being made.

4 hour USDJPY:

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[Admiral Markets]

Daily Wave Analysis for 3 November 2014

EURUSD

The EURUSD break of the 1.25 bottom increases the odds of price falling towards the Fibonacci targets of wave 3 (purple) and wave 5 (orange).

4 hour EURUSD:

Within the wave 3 (purple) price could be extending the wave count with a 5 wave (blue) to complete wave 1 (mangenta).

60 min EURUSD:

GBPUSD

The confirmation of a wave 4 (red) completion at the recent top increases when price is able to break the support level (green).

4 hour GBPUSD:

The price consolidation between the trend lines (orange) is typical for a wave 4 (purple).

60 min GBPUSD:

USDJPY

The USDJPY uptrend heavily accelerated above the resistance top (red line) last week, which is typical for a wave 3 (purple).

4 hour USDJPY:

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