Elliott Wave Analysis for Forex, Futures and Stock Market

Technical analysis of EUR/JPY for December 29, 2014 2014-12-29
General overview for 29/12/2014 09:20 CET
The market stays inside of the tight trading range between the levels of 147.13 - 146.44 marked by the Christmas time and end of the year low liquidity, including profit taking price behavior as well. The golden intraday trend line has been touched 5 times and the last touch was from the downside, what can indicate a lower prices to come. Nevertheless, the market is currently trading close to the weekly pivot at the level of 146.54 and only a breakout below the intraday support at the level of 146.44 would be a valid range violation and market should follow through to test the lower price supports at the level of 145.98 and 145.70. On the other hand, only a clear string impulsive breakout above the intraday resistance at the level of 147.13 would be a valid range breakout, that should be targeting the level of 148.22. Please notice that as long as the level of 144.97 is not broken, the mid-term and longer-term bias is to the upside.
Support/Resistance:
149.76 - Technical Resistance|Swing High|
148.35 - WR3
148.22 - Technical Resistance
147.74 - WR2
147.17 - WR1
147.13 - Intraday Resistance
146.54 - Weekly Pivot
146.44 - Intraday Support
145.92 - WS1
145.70 - Technical Support
145.39 - WS2
144.97 - Technical Support|Swing Low|
144.82 - WS3
Trading recommendations:
From a trader of view there is no real change, and as I'd mentioned it before: as long as the golden trend line is not broken, the bias is bullish, and traders should consider opening buy orders only. The SL orders still should be placed below the 146.44 level, and TP orders should be placed at the level of 148.23. Please notice that the end of the year liquidity is low and the market moves might get very sharp and sudden in either direction.

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Technical analysis of USD/CAD for December 29, 2014 2014-12-29
General overview for 29/12/2014 10:00 CET
The trading range has got even more tighter as the market is still inside of the neutral range marked between the levels of 1.1558 - 1.1665. The wave progression has gotten very complex and the current labeling is a WXYXXZ brown double three corrective cycle wave 4 purple. Nevertheless, the current near-term and mid-term bias is still bullish as there are unfinished impulsive structures to the upside. Only a clear impulsive breakout below the level of 1.1500 would invalidate this scenario.
Support/Resistance:
1.1712 - WR2
1.1670 - WR1
1.1632 - Intraday Resistance
1.1623 - Weekly Pivot
1.1588 - Intraday Support
1.1581 - WS1
1.1558 - Technical Support
1.1535 - WS2
1.1500 - Invalidation Level
Trading recommendations:
From a trading point of view there is no real change in price behavior and traders should still consider opening only buy stop orders from the level of 1.1633 with SL below the level of 1.1588 and TP at the level of 1.1672 with a possible extension upside to the level of 1.1733.

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Technical analysis of USD/CAD for January 2, 2015
General overview for 02/01/2015 11:15 CET
Intraday resistance at the level of 1.1649 has been violated and it looks like the bottom for wave Z brown of wave 4 purple has been established at the level of 1.1570. Currently, as anticipated, the market is trying to break out above the recent high to complete wave 5 purple of the overall impulsive structure. The first target is at the level of 1.1670 and the second target is at the level of 1.1712.
Support/Resistance:
1.1712 - WR2
1.1670 - WR1
1.1665 - Intraday Resistance
1.1623 - Weekly Pivot
1.1588 - Intraday Support
1.1581 - WS1
1.1570 - Technical Support
1.1535 - WS2

Trading recommendations:
Buy orders opened from the level of 1.1633 should be still kept open and the SL orders should be now moved higher to the level of 1.1642. The TP is still at the level of 1.1672 with a possible extension up to the level of 1.1733.

Read more: https://www.instaforex.com/forex_analysis/55175/

Technical analysis of EUR/JPY for January 2, 2015
General overview for 02/01/2015 11:30 CET
The first stages of a corrective cycle in wave (b) blue are in progress. The first important level is intraday resistance at the level of 145.56 because any violation of this level might lead to further gains in this pair. If it happens, then the next most important level will be the key level acting as an intraday resistance again at the level of 146.39. Only a breakout above this level might be considered as a trend changer and further gains towards the level of 148.23 might be seen as the impulsive wave structure unfolds.
Support/Resistance:
149.76 - Technical Resistance|Swing High|
148.35 - WR3
148.23 - Technical Resistance
147.74 - WR2
147.17 - WR1
146.54 - Weekly Pivot
146.39 - Intraday Resistance|Key Level|
145.92 - WS1
145.70 - Technical Support
145.39 - WS2
144.75- Intraday Support|Swing Low|
144.82 - WS3

Trading recommendations:
Daytraders should consider opening buy stop orders from the level of 145.60 with SL below the level of 144.75 and TP at the level of 146.39.

Read more: https://www.instaforex.com/forex_analysis/55177/

Technical analysis of USD/CAD for January 7, 2015
General overview for 07/01/2015 11:10 CET
The targets from the beginning of the week have been hit overnight as the market had made another higher high in this impulsive wave progression. Moreover, the count has been little changed as the top for wave 5 purple has been moved one leg higher into the projected target zone between the levels of 1.1897-1.1922. This would mean that the market is rather close to complete the five wave impassive sequence and corrective move to the downside can happen any time now. Please notce that the bearish divergence on momentum oscillator supports this view.
Support/Resistance:
1.1935 - WR1
1.1922 - 1.1897 - Projected Wave 5 Target Zone
1.1842 - Technical Support
1.1820 - Intraday Support
1.1753 - Weekly Pivot
Trading recommendations:
Daytraders should consider to open an intraday buy orders from current price levels with SL below the level of 1.1820 and TP at the level of 1.1897.

Read more: https://www.instaforex.com/forex_analysis/55347/

Technical analysis of EUR/JPY for January 7, 2015
General overview for 07/01/2015 11:30 CET
The wave (c) blue has extended the drop a little bit further to hit the weekly support at the level of 140.54. Nevertheless, the outlook for the pair is still bullish and currently the bullish divergence is supporting the view that this corrective drop is near to finish and further upward rally is about to unfold. Please note that the key level to the upside is now at the level of 141.67. A breakout above this intraday resistance would be the first clue that the bullish impulsive structure is in progress. But to further confirm this scenario, the price must break out above the level of 143.17.
Support/Resistance:
140.54 - WS2
141.65 - Intraday Resistance
141.95 - WS1
143.18 - Intraday Resistance
144.10 - 144.42 - Gap Zone
144.58 - Weekly Pivot
145.57 - Technical Resistance
146.22 - WR1
Trading recommendations:
Buy orders opened yesterday with SL below the level of 140.54 and TP at the level of 144.42 should be still kept open as there is a high chance the corrective cycle might be completed now. Next good level to add to existing positions is at the level of 143.17.

Read more: https://www.instaforex.com/forex_analysis/55349/

Technical analysis of USD/CAD for January 9, 2015
General overview for 09/01/2015 10:30 CET
The market is trading inside of the intraday trading range between the levels of 1.1795 - 1.1872 and it is still developing the suggested triangle pattern in intraday wave -iv- of the overall impulsive wave progression. The orange rectangle area is still valid as a projected target zone and the price is expected to at least touch it before any meaningful correction will happen. Please notice that the market is still in the bullish zone and only a breakout below the weekly pivot at the level of 1.1752 would temporary change the intraday bullish outlook.
Support/Resistance:
1.1935 - WR1
1.1897 - 1.1912 - Projected Target Zone for Wave 5 Purple
1.1872 - Intraday Resistance
1.1795 - Intraday Support
1.1753 - Weekly Pivot
Trading recommendations:
There is one more wave needed to complete the wave progression to the upside. The target is still the orange rectangle zone between the levels of 1.1897 - 1.1912. After hitting this target zone, the price should reverse downside in a counter-trend internal corrective cycle.

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Technical analysis of EUR/JPY for January 9, 2015
General overview for 09/01/2015 10:10 CET
The market is trading inside of the intraday trading range between the levels of 140.54 - 141.63, possibly waiting for today's Non Farm Payrolls data to show the direction. The bias is bullish as the corrective wave progression in wave 2 red to the downside looks completed and the impulsive rebound can happen anytime now. First major intraday resistance is at the level of 141.63 and any breakout higher will directly expose the next resistance at the level of 143.17.
Support/Resistance:
140.54 - WS2
141.65 - Intraday Resistance
141.95 - WS1
143.18 - Intraday Resistance
144.10 - 144.42 - Gap Zone
144.58 - Weekly Pivot
145.57 - Technical Resistance
146.22 - WR1

Trading recommendations:
There is not much of the impulsive wave progression to the upside so far but the buy orders opened a couple a days ago should still be kept open as the market is awaiting the NFP news release. SL below the level of 140.54 and TP at the level of 144.42. The next good level to add to existing positions is at the level of 143.17

Read more: https://www.instaforex.com/forex_analysis/55440/

Technical analysis of USD/CAD for January 13, 2015
General overview for 13/01/2015 09:15 CET
The projected target for wave 5 purple has been hit, but the market is continuing to make higher highs as the impulsive structure looks incomplete yet. This is why the overall scenario has been a little changed and the top for wave iii black has been established at the level of 1.1867 now. Please notice the momentum oscillator is starting to diverge from price and bearish divergence is building now. The current scenario expects an internal corrective sub-cycle in wave (iv) blue and then another high will be made.
Support/Resistance:
1.1987 - WR2
1.1977 - Intraday Resistance
1.1926 - WR1
1.1895 - 1.1912 - Target Zone
1.1887 - Intraday Support
1.1829 - Weekly Pivot
Trading recommendations:
The target zone for wave 5 purple has been met and now the corrective decline might happen very soon. One more wave to the upside is being expected before any meaningful corrective cycle will start.

Hello, do you follow pairs such as AUDNZD? From a VSA/Wyckoffian (Wyckoff who also used Eliott) point of view, there was buying near the trendline on the hourly, but a bit worried about the supply above, which may break the trend.

Technical analysis of USD/CAD for January 29, 2015
General overview for 29/01/2015 09:20 CET
The scenario has been changed a little to incorporate the latest wave development into the overall scenario, but the outlook has not changed a bit: still one more wave to the upside is missing and it looks like the market is trying to make it now. The bullish breakout above the level of 1.2340 will directly expose another weekly pivot at the level of 1.2698 to test, and this is the first target projection for wave 5 green this week. Please notice the bearish divergence is supporting the view of the last impulsive wave to the upside to come.

Support/Resistance:
1.2698 - WR1
1.2540 - Swing High|Intraday Resistance|
1.2375 - Intraday Support
1.2320 - Weekly Pivot
1.2309 - Intraday Support
1.2181 - WS1

Trading recommendations:
Fake golden trend line breakout forced to close sell orders with a minimal loss. Today daytraders should consider opening buy orders from the current price levels with SL below the level of 1.2498 and TP at the level of 1.2698.

Read more: https://www.instaforex.com/forex_analysis/56174/

Technical analysis of EUR/JPY for January 29, 2015
General overview for 29/01/2015 09:40 CET
The yesterday's intraday support levels have been identified correctly and they are still providing the support for the price. The downside breakout is the crucial move on this market right now as it can be a part of a larger wave (b) blue progression. Nevertheless, the market is still developing the corrective wave 4 black and only a breakout below the level of 130.14 would invalidate this view.
Support/Resistance:
130.14 - Swing Low
131.83 - Intraday Support
132.46 - Intraday Support
134.21 - Intraday Resistance
134.99 - WR1

Trading recommendations:
Not much has changed since yesterday: the market still trades below the level of 134.21. Choppy trading conditions are expected as the market might be making wave 4 black in a shape of triangle or any other corrective shape. Any breakout higher above the level of 134.21 is bullish and buy orders should be opened with SL below one of the intraday support levels.

Read more: https://www.instaforex.com/forex_analysis/56176/

USD/CAD Elliott Wave Anlysis for 22/05/2015:
General overview for 22/05/2015 07:10 CET
The corrective cycle is developing as anticipated at the beginning of the week, but the overall bias is still bullish as there are unfinished impulsive waves to the upside. Please notice that the main count indicates a possible triangle pattern in wave 4 blue that looks completed. That would mean any breakout higher above the green trendline will be considered as a bullish impulsive continuation to the upside with new highs in view. On the other hand, any breakout below the intraday support at the level of 1.2167 will favor alternate count that is now a part of uncompleted irregular flat corrective cycle. The target for that corrective pattern lies at the level of 1.2127.
Support/Resistance:
1.2066 - Invalidation Level
1.2127 - WR1
1.2167 - Intraday Support
1.2256 - Intraday Resistance
Trading recommendations:
As long as the level of 1.2167 is providing the support, daytraders should, consider opening buy orders from the current levels with SL just below the level of 1.2166 and TP at the level of 1.2235, with a possible extension higher up to the level of 1.2256 and beyond.

Read more: https://www.instaforex.com/forex_analysis/60893/

Technical analysis of EUR/JPY for May 22, 2015
General overview for 22/05/2015 07:30 CET
The count had been slightly changed to incorporate a sooner-than-expected wave (i) green termination and to label the latest upward rally as a three wave corrective structure. Please notice that as long as the red line at the level of 133.09 is not clearly violated, there is still a possibility that the last wave up is only a part of a larger corrective structure. This would mean, the dynamic support provided by the golden trendline might be violated to make wave b green. However, the market can go up again to complete the wave c of the overall larger corrective structure. As long as no new swing high is made above the level of 136.95, the bias is bearish and new lows are expected on this market.
Support/Resistance:
133.09 - Key Level
133.45 - Technical Support
133.90 - Intraday Support
134.40 - Golden Trend Line Dynamic Support
134.87 - WS1
135.29 - Intraday Resistance
135.85 - Weekly Pivot
Trading recommendations:
As long as the level of 135.29 is providing resistance, daytraders should consider opening sell orders from the current levels with SL just above the level of 135.31 and TP at the level of 133.90, with a possible extension lower down to the level of 133.45 and beyond.

Read more: https://www.instaforex.com/forex_analysis/60895/

#EURUSD Short term Elliott Wave Update #elliottwave #forex #trading #money #eurusd #4x #fx #greece #QE #euro #dollar

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