Elliott Wave Analysis & Forecast (Daily Update) Forex, Gold, Oil, S&P

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USDNOK: the rise is finished…?The two upward legs at 6.21 are the same and the price of the WTI above $ 105 should help the Nok.

 

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ZarJpy: wave 4 in formation. August is the worst month for Zar and the best one for Yen, going short here is a must.

 

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Wave 4 of ZarJpy is finally completed. Now I’m expecting a definite fall up to the lows of June, and August is the seasonally best month of the year.

 

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Typical wave 4 on UsdInr, leading towards the last bullish wave 5.

 

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Wave C in formation on NzdUsd.

 

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I think that this first bearish sequence at 85 is going to finish soon for AudJpy. Obviously it is just going to be a break to be exploited to get a profit from the short positions.

 

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Wolfe Waves have been completed on EurCad; back on the 200-days moving average 1.33.

 

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Good news for gold. The recent rise has occurred in 5 waves and now it seems that the market wants to attack 1350. Exceeding this level would re-launch the bull market towards 1500.

 

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According to Elliott Waves, how do you catalogue the current movement of EurUsd?

 

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Gold reaches 1400 but EurUsd stops its rise: are these the first divergences that indicate a primary top for EurUsd?