Intraday Elliott Wave EURUSD Currency Trading Strategies

Eur/Usd 1 Hour Chart
Monday, 5 December 2011 at 6:40:00PM AEST

Euro found the support on Friday, and is actually on no-mans land since then, as we see possibilities for two wave counts while short-term 1.3393 support holds. On the left we are looking for an expanded flat in wave X, where bullish trend should be seen back above 1.3530.

But if 1.3393 support is out then more downside will follow in B wave from wave A peak.

We see more possibilities for the wave count shown on the right. Why? because zig-zags are more common than expanded flat!

Forex Trading: Elliott Wave EURUSD Currency Trading Strategies

Forex Trading: Elliott Wave EURUSD Currency Trading Strategies

Technical Analysis - Currency Trading - Elliott Wave

Forex Trading Elliott Wave USDCAD 1 Hour Chart
Tuesday, 29 November 2011 at 7:22:00PM AEST
Elliott Wave count USDCAD, a bearish reversal is still unconfirmed and the reason is the wave structure from the peak, which is not in five waves...yet! But it seems that current slow price action is a wave iv) and that wave v) will reach new lows very soon. In such, case we will call a temporary top for the pair at 1.0524 and we will focus on more weakness in days ahead.

Forex Trading Elliott Wave USDCAD  4 Hour Chart
Tuesday, 29 November 2011 at 5:58:00PM AEST
-trend slows down
Elliott Wave count USDCAD  reversed sharply lower yesterday, after prices found the top on Friday exactly at the upper channel resistance line. We know that this usually occurs in a corrective advance, and not impulsive wave structure. As such, we really need to consider a potential break lower, but not until we see a fall through the lower support line of a corrective channel! Only a decisive break of 1.0520 puts bulls back into action!

Forex Trading Elliott Wave USDCAD  Daily Chart
27 November 2011 USDCAD
-looking higher while above 1.02
Elliott Wave count USDCAD  could be trading in very complex but still incomplete corrective pattern from late July, since pair fell in 3-waves from 1.065 highs. As such, move from those highs was corrective, labelled as wave X) on the chart, especially after a broken downward channel resistance line. Since then market is trading very nicely higher as expected; now approaching October highs that should be taken out in current Y) wave, while pair trades above 1.0200 supports. Only a move back below that level will suggests that bears are in control.

Forex Technical Analysis AUDUSD 97.10
TradingLevels: If 1.00 develops support then this is a bullish picture, the wave counts suggests a rally to 1.00 then down again, but we have to trade off support and resistance.
Elliott Wave: Despite a quite strong recovery in the past sessions, we still believe that larger trend is down on Aud/Usd, and that downtrend will resume in the coming sessions. In fact, we have only 3-waves up and also gap that needs to be filled. As such, we expect that current wave 4 will find resistance in the near-future, which must not rise above 1.0055 critical/invalidation region
Trading Strategy: A little like the Euro’s move down, the move down here from the SG2 9972 to 99 is in five waves, so a abc counter trend bounce off 99 then down again through the 99, how far will the bounce be is tricky to say, however there is resistance at 9920 and 9950 Midpoint, you know if the price finds support on top of group1 9930 then the price will end up at the Midpoint

AUDUSD Elliott Wave Chart

Aud/Usd 1 Hour Chart
Monday, 28 November 2011 at 7:20:00PM AEST

Despite a quite strong recovery in the past sessions, we still believe that larger trend is down on Aud/Usd, and that downtrend will resume in the coming sessions. In fact, we have only 3-waves up and also gap that needs to be filled. As such, we expect that current wave 4 will find resistance in the near-future, which must not rise above 1.0055 critical/invalidation region!

Currency Trading | Forex Trading Report
Elliott Wave Aud/Usd 1 Hour Chart
it seems that wave (iii) reached a bottom after a minor recovery seen over the past two sessions, which appears to be a start of a three wave corrective move in blue wave (iv). Wave four usually retraces into a territory of a wave four of one lesser degree, so more upside could be seen in the next two sessions, potentially above 0.9800, before trend reverse lower again.
Larger trend remains down, while prices trades below upper channel resistance line!

Thursday, 24 November 2011 at 6:33:00PM AEST

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