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Elliott Wave Analysis on EURJPY Expects Support Soon

Short Term Elliott Wave View on EURJPY suggests the rally from 12.7.2023 low is in progress as a 5 waves. Up from 12.7.2023 low, wave 1 ended at 163.71 and pullback in wave 2 ended at 160.21. Pair extended higher in wave 3 towards 171.58. The 60 minutes time frame below shows the rally which ended wave 3. Wave 4 pullback is currently in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave 3, wave (i) ended at 170.41 and rally in wave (ii) rally ended at 171. Pair extended lower in wave (iii) towards 166.31 and rally in wave (iv) ended at 168.55.

Final leg wave (v) lower ended at 165.6 which completed wave ((a)) in higher degree. Pair then bounced in wave ((b)) with internal subdivision as a zigzag in lesser degree. Up from wave ((a)), wave (a) ended at 167.99 and pullback in wave (b) ended at 166.34. Final leg wave (c) higher ended at 168.68 which completed wave ((b)) in higher degree. Pair extended lower in wave ((c)) with internal subdivision as 5 waves. Down from wave ((b)), wave (i) ended at 163.97 and wave (ii) rally ended at 167.38. Near term, as far as pivot at 168.68 high stays intact, expect pair to continue lower. Potential target lower is 100% – 161.8% Fibonacci extension of wave ((a)). This area comes at 159 – 162.7 area where support can be seen.

EURJPY 60 Minutes Elliott Wave Chart

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EURJPY Elliott Wave Video

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OIL (CL_F) Elliott Wave: Incomplete Sequences Forecasting The Path
Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of Oil published in members area of the website. The commodity shows bullish sequences in the cycle from the 67.75 low. Consequently we are favoring the long side and recommending members to keep buying the dips in 3,7,11 swings when get a chance. However, short term cycle from the April 12th peak shows incomplete sequences, suggesting more downside in near term. In further text we’re going to explain the Elliott Wave analysis.
OIL Elliott Wave 1 Hour Chart 03.09.2024
Oil is showing incomplete sequences in the cycle from the April 12th peak. The price structure is calling for more downside as far as 86.3 pivot holds. Current view suggests we are about to complete wave ((x)) connector as Elliott Wave Zig Zag Pattern. We don’t recommend selling. Strategy is waiting for extreme zone to be reached before buying the commodity again.



OIL Elliott Wave 1 Hour Chart 03.13.2024
The commodity completed 3 waves correction as ((x)) black, and made decline toward new lows as expected. The price is heading toward our target area 80.19-76.42 where we would like to be buyers again. We don’t recommend selling the commodity and prefer the long side from the mentioned extreme zone.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room
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Elliott Wave Analysis on EURJPY Expects Support Soon

Short Term Elliott Wave View on EURJPY suggests the rally from 12.7.2023 low is in progress as a 5 waves. Up from 12.7.2023 low, wave 1 ended at 163.71 and pullback in wave 2 ended at 160.21. Pair extended higher in wave 3 towards 171.58. The 60 minutes time frame below shows the rally which ended wave 3. Wave 4 pullback is currently in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave 3, wave (i) ended at 170.41 and rally in wave (ii) rally ended at 171. Pair extended lower in wave (iii) towards 166.31 and rally in wave (iv) ended at 168.55.

Final leg wave (v) lower ended at 165.6 which completed wave ((a)) in higher degree. Pair then bounced in wave ((b)) with internal subdivision as a zigzag in lesser degree. Up from wave ((a)), wave (a) ended at 167.99 and pullback in wave (b) ended at 166.34. Final leg wave (c) higher ended at 168.68 which completed wave ((b)) in higher degree. Pair extended lower in wave ((c)) with internal subdivision as 5 waves. Down from wave ((b)), wave (i) ended at 163.97 and wave (ii) rally ended at 167.38. Near term, as far as pivot at 168.68 high stays intact, expect pair to continue lower. Potential target lower is 100% – 161.8% Fibonacci extension of wave ((a)). This area comes at 159 – 162.7 area where support can be seen.

EURJPY 60 Minutes Elliott Wave Chart


EURJPY Elliott Wave Video


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SPDR Energy Select Sector ( $XLE) Found Buyers at the Blue Box Area as Expected.

Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of SPDR Energy Select Sector ($XLE). The rally from 1.18.2024 low at $78.98 unfolded as 5 waves impulse. We expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:
5 Wave Impulse Structure + ABC correction


$XLE 4H Elliott Wave Chart 5.02.2024:


Here is the 4H Elliott Wave count from 5.02.2024. We expected the pullback to find buyers after a 3 swings Zig-Zag correction (ABC) at the blue box area at 91.40 – 87.99.
$XLE 4H Elliott Wave Chart 5.06.2024:



Here is the latest 4H update from 5.06.2024 showing the bounce taking place as expected. The ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to remain supported with a target area towards $101 – 104 before another pullback can happen.
$XLE Elliott Wave Video Analysis


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Do Not Miss Buying Opportunities Palantir (PLTR) Should Resume Higher

Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The firm offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions.

PALANTIR (PLTR) Weekly Chart May 2024



Palantir ended a cycle at $45.00 in January 2021. Then it did a deep pullback as a zig zag correction ending wave (II) at 5.91 low. The market started an impulse structure as wave ((1)). The wave (1) finished at $10.31 high. The pullback as wave (2) ended at $7.17 and rallied in 5 swings completing an impulse and wave (3) at $17.17. Then, market made a little stop for a retracement and built a flat Elliott wave structure as wave (4) ended at $13.55 in June. At this point, PLTR made a last push higher as an impulse completing wave (5) at $20.27 and also ending the whole impulse from December 2022 low as wave ((1)). (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).
Then wave ((2)) started and it did a running flat correction. The wave (A) ended at $13.68 low and rallied breaking wave ((1)) high completing wave (B) at $21.85. Last leg as wave (C) developed an ending diagonal structure ending at $15.66 low and wave ((2)) correction. Market rallied in 5 waves ending an impulse at $27.50 high as wave ((3)). Next pullback completed at $20.33 low and for us that was the end of wave ((4)) correction. Currently, PLTR should continue to the upside to end a wave ((5)) and complete the whole wave I before seeing a correction in 3, 7 or 11 swings as wave II. This wave ((5)) should end in $29.23 – $32.00 area. If market breaks above $32.00, then Palantir is still in wave ((3)) and we should see higher prices in the stock.

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EURGBP Perfectly Reacting Lower From Blue Box Area

In this technical blog, we are going to take a look at the past performance of EURGBP 4-Hour Elliott wave Charts that we presented to our members. In which, the decline to 2/14/2024 low took place as an impulsive structure and showed a lower sequence with a bearish right side tag calling for more downside to happen. Therefore, our members knew that selling the bounces in the direction of the right side tag remained the preferred path. We will explain the Elliott wave structure & selling opportunity our members took below:
EURGBP 4-Hour Elliott Wave Chart From 4.20.2024



EURGBP 4-Hour Elliott Wave Chart from 4/20/2024 Weekend update. In which the decline to 0.8497 low ended wave 1 as an impulse sequence. Up from there, the pair made a bounce in wave 2. The internals of that bounce unfolded as a double three structure where wave ((w)) ended at 0.8602 high. Wave ((x)) pullback ended at 0.8519 low. And wave ((y)) was expected to reach the blue box area. From there, sellers were expected to appear looking for further downside or a minimum 3-wave reaction lower.

EURGBP Latest 4-Hour Elliott Wave Chart From



This is the latest 4-Hour view from the 5/04/2024 Weekend update. In which the pair is showing a reaction lower taking place from the blue box area. Allowing shorts to get into a risk-free position shortly after taking the position. But a break below the 0.8497 low remains to be seen to confirm the next extension lower towards the 0.8376- 0.8210 area & avoid double correction higher.

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Elliott Wave Expects New All Time High in Nvidia (NVDA)

Short Term Elliott Wave View on Nvidia (NVDA) suggests the stock ended correction on 4.20.2024 at 756.06. From there, the stock starts a new impulsive rally. Up from 4.20.2024, wave 1 ended at 846.07 and pullback in wave 2 ended at 776.80. The stock extends higher in wave 3 towards 887 and dips in wave 4 ended at 852.66. FInal leg wave 5 ended at 888.19 which completed wave (1) in higher degree. The stock then pullback in wave (2) with internal subdivision as a zigzag Elliott Wave structure. The stock has resumed higher in wave (3).

Up from wave (2), wave ((i)) ended at 860 and dips in wave ((ii)) ended at 823. The stock then nested higher with wave (i) ended at 856.6 and pullback in wave (ii) ended at 832. Wave i of (iii) ended at 866.84 and dips in wave ii of (iii) ended at 859.17. Stock resumed higher in wave iii of (iii) towards 922.2 and pullback in wave iv of (iii) ended at 910.31. Expect the stock to extend higher 1 more leg to end wave v of (iii). Afterwards, it should pullback in wave (iv) to correct cycle from 5.2.2024 low before it resumes higher again. Near term, as far as pivot at 812.4 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Nvidia (NVDA) 45 Minutes Elliott Wave Chart

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NVDA Elliott Wave Video

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BTCUSD (Bitcoin) Makes New All Time High. What’s Next?

BTCUSD (Bitcoin) has been in a strong uptrend since November 2022. The previous all-time peak was seen on November 8, 2021 and was broken in March 2024 when Bitcoin made a new all-time high at 73794 on March 14, 2024. It has since seen a pull back which reached a low of 56500 on May 1, 2024 and is now turning higher again. Today, we will take a look at the bigger picture of Bitcoin, what are the upside targets and any possible detours which can take place.
BTCUSD Weekly Elliott Wave Chart 7 May 2024
The Bitcoin chart below shows it completed an expanded FLAT correction in November 2022 and resumed the rally. Wave ((1)) ended at 31035, wave ((2)) completed at 24920 after which it resumed the rally in wave ((3)). Within wave ((3)), wave (1) competed at 49048, wave (2) completed at 38505, wave (3) ended at 73794, and wave (4) is also proposed to be over at 56500. As dips hold above this level, we are expecting a continuation higher in wave (5) of ((3)). Inverse 123.6 Fibonacci extension of wave (4) pullback comes at 77379. After a new high to complete wave ((3)), we expect another pullback in wave ((4)) to correct the cycle from September 2023 low and higher again in wave ((5)) toward 80578 – 84737 area which is 100% Fibonacci extension of the first leg up from all-time low projected higher from November 2022 low. We have two different 100% Fibonacci extension levels based on whether we count wave (I) at April 2021 or November 2021.



BTCUSD Weekly Elliott Wave Chart 7 May 2024 [Alternate View]
The Bitcoin chart below shows the possibility that wave ((3)) is already in place and we end up with a double three Elliott wave correction in wave ((4)). If we fail to break above the high at 73794 and see a break lower, that will support the alternate view. The target area on the upside remains to be between 80578 – 84737. We don’t recommend selling and in case of a double correction lower and will be looking for a buying opportunity at the next extreme area in case we get a double correction lower.



BTCUSD 1 Hour Elliott Wave Chart 7 May 2024
Bitcoin Short-term view suggests rally from May 1, 2024 is so far in 3 waves but it is extended and wave ( iii ) extended more than 261.8% Fibonacci extension of wave (i) related to wave (ii). This supports the idea that the rally should turn into an Elliott wave impulse. Once a new high has been seen, that will complete 5 waves up from the low and support the idea that pull backs should hold the low for at least 1 more leg higher.



[VIDEO] BTCUSD (Bitcoin) Elliott Wave view and Next Target Area


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COST Favors Rally To Continue In Bullish Sequence

Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China & Taiwan together with its subsidiaries. It offers branded & private-label products in the range of merchandise categories. It also operates e-commerce websites in the US, Canada, UK & many other countries. It is based in Issaquah, Washington, comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.
COST favors bullish weekly sequence & expect to remain supported in 3, 7 or 11 swings pullback to extend higher. Short term, it favors upside in ((3)) of III of (I).
COST – Elliott Wave Latest Daily View:



In Weekly sequence, it placed ((I)) at $612.27 high in April-2022 as impulse sequence since all time lows. It ended corrective pullback of ((II)) at $406.51 low in May-2022 as sharp pullback. It already broke to new high above ((I)), calling for further upside in ((III)) sequence in weekly. It placed I of (I) of ((III)) at $564.75 high. It ended 3 swing corrective pullback in II at $447.90 low in January-2023. Above there, it placed ((2)) pullback of III at $465.33 low in March-2023. Currently, it favors upside in ((3)) of III & expect one more push higher in (5) to finish it, while dips remain above $697.27 low.
COST – Elliott Wave Latest Weekly View:



Within ((3)), it placed (1) at $576.19 high in October-2023 & (2) at $540.23 low in late October-2023 as shallow pullback. Above there, it placed (3) at $787.08 high & (4) at $697.27 low. Currently, it favors upside in 3 of (5), while placed 2 of (5) at $702 low. It needs to break above (3) high of 787.08 to be a (5) to finish ((3)) & extend towards $808.44 – $843 area before it may pullback in ((4)). It expects series of third & fourth waves in weekly to finish (I) of ((III)).
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Chevron (CVX) Ended Correction and Resumed Higher


Chevron Corporation (CVX) is a multinational energy corporation operating in all facets of the oil and gas industry. This includes exploration, production, refining, and marketing. Headquartered in San Ramon, California, Chevron has a global presence with operations spanning over 180 countries. This article looks at the long term Elliiot Wave outlook of the company.
Chevron Monthly Elliott Wave Chart



Monthly Elliott Wave Chart of Chevron (CVX) above shows rally to 135.1 ended wave ((I)). wave ((II)) pullback took the form of a zigzag Elliott Wave structure. Down from wave ((I)), wave (A) ended at 69.58. The stock then rallied in wave (B) towards 133.88. Wave (C) lower resumed lower towards 51.54 which completed wave ((II)) in higher degree. Wave ((III)) higher is currently in progress as an impulsive structure. Up from wave ((II)), wave (I) ended at 182.4. Pullback in wave (II) ended as a zigzag structure at 139.62 and the stock has resumed higher. As far as pivot at 51.54 low stays intact, expect the stock to extend higher.
Chevron Daily Elliott Wave Chart



Daily Elliott Wave Chart for Chevron above shows that wave (I) rally ended at 182.4. Pullback in wave (II) has also ended at 139.62 and the stock has resumed higher. Up from wave (II), wave ((1)) ended at 167.11. Expect wave ((2)) pullback to stay above 139.62 for further upside. Near term, as far as pivot at 139.62 low and more importantly pivot at 54.15 low stays intact, expect the stock to extend higher.
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Elliott Wave Expects New All Time High in Nvidia (NVDA)

Short Term Elliott Wave View on Nvidia (NVDA) suggests the stock ended correction on 4.20.2024 at 756.06. From there, the stock starts a new impulsive rally. Up from 4.20.2024, wave 1 ended at 846.07 and pullback in wave 2 ended at 776.80. The stock extends higher in wave 3 towards 887 and dips in wave 4 ended at 852.66. FInal leg wave 5 ended at 888.19 which completed wave (1) in higher degree. The stock then pullback in wave (2) with internal subdivision as a zigzag Elliott Wave structure. The stock has resumed higher in wave (3).

Up from wave (2), wave ((i)) ended at 860 and dips in wave ((ii)) ended at 823. The stock then nested higher with wave (i) ended at 856.6 and pullback in wave (ii) ended at 832. Wave i of (iii) ended at 866.84 and dips in wave ii of (iii) ended at 859.17. Stock resumed higher in wave iii of (iii) towards 922.2 and pullback in wave iv of (iii) ended at 910.31. Expect the stock to extend higher 1 more leg to end wave v of (iii). Afterwards, it should pullback in wave (iv) to correct cycle from 5.2.2024 low before it resumes higher again. Near term, as far as pivot at 812.4 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Nvidia (NVDA) 45 Minutes Elliott Wave Chart

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NVDA Elliott Wave Video


Source: https://elliottwave-forecast.com/new...h-nvidia-nvda/

Elliott Wave Analysis on Dow Futures (YM) Favors Upside

Short Term Elliott Wave View in Dow Futures (YM) suggests the Index ended wave (4) correction at 37473. The Index has now turned higher in wave (5). However, it still needs to break above the previous wave (3) peak on 4.1.2024 at 40358 to rule out a double correction. Up from wave (4), wave ((i)) ended at 38451 and pullback in wave ((ii)) ended at 382808. Wave ((iii)) ended at 38682, dips in wave ((iv)) ended at 38428, and final wave ((v)) higher ended at 38801. This completed wave 1 in higher degree.

Pullback in wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 37944 and wave ((b)) rally ended at 38592. Wave ((c)) lower ended at 37866 which completed wave 2 in higher degree. The Index has turned higher again in wave 3 of (5). Up from wave 2, wave (i) ended at 38527 and pullback in wave (ii) ended at 38037. Wave (iii) higher ended at 38958 and dips in wave (iv) ended at 38661. Near term, as far as pivot at 37473 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Dow Futures (YM_F) 60 Minutes Elliott Wave Chart

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YM_F Elliott Wave Video

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Elliott Wave Analysis on Dow Futures (YM) Favors Upside

Short Term Elliott Wave View in Dow Futures (YM) suggests the Index ended wave (4) correction at 37473. The Index has now turned higher in wave (5). However, it still needs to break above the previous wave (3) peak on 4.1.2024 at 40358 to rule out a double correction. Up from wave (4), wave ((i)) ended at 38451 and pullback in wave ((ii)) ended at 382808. Wave ((iii)) ended at 38682, dips in wave ((iv)) ended at 38428, and final wave ((v)) higher ended at 38801. This completed wave 1 in higher degree.

Pullback in wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 37944 and wave ((b)) rally ended at 38592. Wave ((c)) lower ended at 37866 which completed wave 2 in higher degree. The Index has turned higher again in wave 3 of (5). Up from wave 2, wave (i) ended at 38527 and pullback in wave (ii) ended at 38037. Wave (iii) higher ended at 38958 and dips in wave (iv) ended at 38661. Near term, as far as pivot at 37473 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
Dow Futures (YM_F) 60 Minutes Elliott Wave Chart


YM_F Elliott Wave Video



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Toncoin $TON Daily Cycle Favors More Upside Toward $10

Toncoin $TON is the native cryptocurrency of The Open Network blockchain (previously Telegram Open Network). It is used for network operations, transactions, games or collectibles. In today’s article, we’ll dive into the daily Elliott Wave structure taking place and explore the potential path based on the Theory.
$TON started a new bullish trend in June 2022. Since then, it rallied from $0.73 to a high of $7.6 ( +900% move ). The recent April peak is proposed to be a wave ((3)) within the current daily cycle and the coin already did a minimum of a 3 waves pullback to finish the wave ((4)). The downside correction unfolded within a Zigzag structure and it did reach the buying area around equal legs at $4.62 – $3. The blue box showing in our chart is a technical area where we expect the correction to end then the start of the next leg to the upside in a proposed wave ((5)).
The daily bullish structure for $TON should support the coin during corrective pullbacks in 3, 7 or 11 swings and it will provide investors with good buying opportunity for a higher targets toward $8.5 – $10.5 area before the next daily correction takes place.
Toncoin $TON Daily Chart 5.8.2024


Setup Recap
-Time Frame : Daily
-Entry Area : $4.62 – $4
-Invalidation Condition : Daily Close below $3
-Targets / Ratio : Target 1 at $9.5 (2.84 RR) – Target 2 at $15 (6.3 RR)

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IBM Elliott Wave Analysis-Unraveling the Recovery Ahead

IBM, founded in 1911, is a global technology leader known for pioneering innovations in computing. From tabulating machines to AI and quantum computing, IBM has consistently shaped the tech landscape, providing cutting-edge solutions for businesses worldwide. IBM stock is listed on the New York Stock Exchange NYSE. In this blog post, let’s do the IBM Elliott wave analysis. This can help us understand the long-term and near-term dynamics of this stock.
The IBM stock fell together with the US stock markets and has thus shed over 16% between 03.12.24 and 05.03.24. However, there is barely a 2% net gain in 2024 as almost all of the profits are now gone. How soon can a real recovery begin or how deeper can the sell-off go? This blog post seeks to answer that from our Elliott wave perspective. Let’s start the analysis from the monthly chart.

IBM Elliott Wave Analysis – Monthly Chart. May 2024



On the monthly chart, we could capture the price history of IBM since 1970. Between that time, when the stock was barely exchanged for $16, and March 2013 when it reached its all-time high at just over $206, the chart completed a 5-wave impulse sequence. Notably, the impulse wave was of the grand supercycle degree. What followed afterward was a sell-off that lasted 7 years. The 7-year corrective bearish cycle ended in 2020 at $86.5 to complete wave (II) of the grand super cycle degree.
Since then and four years later, the stock rallied close to an all-time high as part of wave I of (I) of ((III)). The current pullback from March should be the wave ((4)) of I. The implication of this is that once wave ((4)) completes, there should be a recovery for ((5)) before a bigger pullback for II begins. However, wave ((4)), after completion, must be contained above 153.2 wave ((1)) high.

IBM Elliott Wave Analysis – Monthly Chart – Alternate Outlook. May 2024



However, alternatively, if wave ((II)) grand supercycle degree has not ended, the current decline should continue as wave (c) of ((II)). This could last for several years. This is one scenario to take note of. However, we will go with the first scenario because the bullish cycle in the US stock markets is not over yet.

IBM Elliott Wave Analysis – H4 Chart. May 2024.



The 4-hour chart shows that wave ((4)) has been completed with a double zigzag structure at the extreme. Price has bounced as a result. A bullish impulse should emerge as the price separates from the blue box. Alternatively, if the bounce completes a corrective 3,7 or 11 swings instead of an impulse, there is the possibility of it returning lower to complete a lower ((4)). However, that increases the risk of invalidating the primary degree impulse as ((4)) can cross below 153.32. If that’s the case, we may have to adopt the alternative scenario.

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Elliott Wave Analysis on USDJPY Recovery Post BOJ Intervention

USDJPY has been in a roller coaster in the last few weeks due to the Bank of Japan (BOJ) Intervention. In this article, we will look at the short term Elliott Wave path for the currency post the intervention. We are calling the structure of the rally from 12.28.2023 low as a 5 waves Elliott Wave impulse. Up from 12.28.2023 low, wave 1 ended at 150.88 and pullback in wave 2 ended at 146.485.

The pair then extended higher in wave 3 towards 160.21. The 45 minutes chart below shows the starting point of wave 3 high. Pullback in wave 4, which is supposedly when the BOJ intervened, took the form of a zigzag structure. Down from wave 3, wave ((a)) ended at 154.48 and wave ((b)) ended at 157.98. Wave ((c)) lower ended at 151.81 which completed wave 4 in higher degree. The pair has turned higher in wave 5. Up from wave 5, wave (i) ended at 154 and wave (ii) ended at 153.4. Near term, as far as pivot at 151.8 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

USDJPY 45 Minutes Elliott Wave Chart

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USDJPY Elliott Wave Video

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Elliott Wave Analysis on USDJPY Recovery Post BOJ Intervention

USDJPY has been in a roller coaster in the last few weeks due to the Bank of Japan (BOJ) Intervention. In this article, we will look at the short term Elliott Wave path for the currency post the intervention. We are calling the structure of the rally from 12.28.2023 low as a 5 waves Elliott Wave impulse. Up from 12.28.2023 low, wave 1 ended at 150.88 and pullback in wave 2 ended at 146.485.

The pair then extended higher in wave 3 towards 160.21. The 45 minutes chart below shows the starting point of wave 3 high. Pullback in wave 4, which is supposedly when the BOJ intervened, took the form of a zigzag structure. Down from wave 3, wave ((a)) ended at 154.48 and wave ((b)) ended at 157.98. Wave ((c)) lower ended at 151.81 which completed wave 4 in higher degree. The pair has turned higher in wave 5. Up from wave 5, wave (i) ended at 154 and wave (ii) ended at 153.4. Near term, as far as pivot at 151.8 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

USDJPY 45 Minutes Elliott Wave Chart


USDJPY Elliott Wave Video


Source: https://elliottwave-forecast.com/new...-intervention/

Elliott Wave Expects $AUDUSD to Break Higher

Short Term Elliott Wave in AUDUSD suggests the pullback to 0.636 ended wave (2). The pair has turned higher in wave (3) with internal subdivision in 5 waves in lesser degree. Up from wave (2), wave (i) ended at 0.6432 and pullback in wave (ii) ended at 0.6407. The pair then extended higher in wave (iii) towards 0.655 and dips in wave (iv) ended at 0.6516. Final leg wave (v) higher ended at 0.6586 and this completed wave ((i)). Pullback in wave ((ii)) ended at 0.6464.

Up from there, wave (i) ended at 0.654 and pullback in wave (ii) ended at 0.65. Pair resumed higher in wave (iii) towards 0.6647 and dips in wave (iv) ended at 0.662. Pair then extended higher 1 more leg in wave (v) to 0.6649 which completed wave ((iii)). Pullback in wave ((iv)) unfolded as a zigzag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 0.66 and wave (b) rally ended at 0.6644. Pair then extended lower in wave (c) towards 0.6657 which completed wave ((iv)). Near term, as far as pivot on 4.19.2024 low at 0.636 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

AUDUSD 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

AUDUSD Elliott Wave Video



Source: https://elliottwave-forecast.com/new...-break-higher/
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EURUSD Elliott Wave: Forecasting the Rally from Equal Legs Area

Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. As our members know, EURUSD has ended the cycle from the December’s 2023 peak. The pair has recently pulled back in a 3-wave pattern, with buyers stepping in right at the equal legs zone. Let’s break down our Elliott Wave forecast further in this article.
EURUSD H1 Asia Update 05.09.2024
The current view suggests that the EURUSD pair is doing a ((iv)) pullback, which is correcting the cycle from the 1.0648 low. This pullback still looks incomplete at the moment. We expect to see another leg down toward equal legs area : 1.07324-1.07182. We expect potential buyers to appear in this area, which could lead to a further rally towards new high or a three-wave bounce at least.
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EURUSD H1 London Update 05.10.2024
EURUSD has made a nice bounce from the Equal Legs-Buyers zone, as anticipated. We consider the wave ((iv)) pullback completed at the 1.0725 low. Confirmation of the next leg up will come with a break of the ((iii)) black peak. We advise against selling the pair during any suggested pullback and favor the long side.
Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room
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Source: https://elliottwave-forecast.com/for...ly-equal-legs/

Elliott Wave Expects $AUDUSD to Break Higher

Short Term Elliott Wave in AUDUSD suggests the pullback to 0.636 ended wave (2). The pair has turned higher in wave (3) with internal subdivision in 5 waves in lesser degree. Up from wave (2), wave (i) ended at 0.6432 and pullback in wave (ii) ended at 0.6407. The pair then extended higher in wave (iii) towards 0.655 and dips in wave (iv) ended at 0.6516. Final leg wave (v) higher ended at 0.6586 and this completed wave ((i)). Pullback in wave ((ii)) ended at 0.6464.

Up from there, wave (i) ended at 0.654 and pullback in wave (ii) ended at 0.65. Pair resumed higher in wave (iii) towards 0.6647 and dips in wave (iv) ended at 0.662. Pair then extended higher 1 more leg in wave (v) to 0.6649 which completed wave ((iii)). Pullback in wave ((iv)) unfolded as a zigzag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 0.66 and wave (b) rally ended at 0.6644. Pair then extended lower in wave (c) towards 0.6657 which completed wave ((iv)). Near term, as far as pivot on 4.19.2024 low at 0.636 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AUDUSD 60 Minutes Elliott Wave Chart



AUDUSD Elliott Wave Video



Source: https://elliottwave-forecast.com/new...-break-higher/