A Leading Technical Analysis Video ‘CFDs Trading Strategy Report’ 
In-depth Analysis DJI SP500 FSTE SPI ASX200 Gold Copper Oil Forex AUDUSD EURUSD Dollar & CFD Trades FREE TRIAL

EarlyBird – Technical Analysis CFD Trading Report – The Day Ahead

Dow Jones – 11, 800 +2.31%
Base Metals Positive
US Gold CFD: 1650
Oil WTI CFD: 91.63
Copper CFD: 345
US Dollar CFD: 76.20
EURUSD 1.3947
AUDUSD 1.0480
Dow Jones CFD 11,900
S&P500 CFD: 1,252
FTSE 100 CFD: 5550
SPI CFD 4275

US News
NEW YORK -(Dow Jones)- U.S. stocks jumped Monday, pushing the Nasdaq Composite into positive territory for the year and the Standard & Poor's 500-stock index to the cusp of it, though stocks moved off session highs in late trade.

The Dow Jones Industrial Average advanced 78 points, or 0.7%, to 11889 in late-afternoon action. Caterpillar was leading blue chips, gaining 4.8% after the maker of construction and mining equipment reported third-quarter earnings that beat expectations and raised its outlook for the year.

The Standard & Poor's 500-stock index added 12 points, or 1%, to 1251, led by materials, financial and technology stocks. The index was 0.55% below break-even for 2011 as of late afternoon. The Nasdaq Composite gained 55 points, or 2.1%, to 2693.

Investors reacted to a set of merger announcements and were heartened by the lack of new negatives from Europe, whose sovereign-debt crisis has wracked investors for months.

CFD Commodities

US Gold CFD: 1650
The trend up, will either create a corrective pattern now on the 1650 or will go to the SG2 1672 first then come back to the 1650 for a corrective pattern. You should expect the price to at least have a small correction at 1650 (abc) at 1650 before pushing to SG2.
Remember that the 1660 is the 61.8% retracement level and then the old supply is through SG2 1665 I 1672 I 1680, and silver is meeting supply now to at 32, but while base metals are expanding upwards the precious metals will continue higher, obviously this is great for BHP etc and we can see the US BHP has further upside from looking at the wave count

Oil WTI CFD: 91.63
Look at Oil create the Tradinglevels Classic pattern across 90 (MediumLevel ML9)
The current move above 90 is the ‘First High’ above the level, it will push up in five smaller waves starting at 84.20 and will reach 93+ once the five waves are completed then a retest of 90 as an abc correction. If support on ML9 is found then we move to the next level 100 (TL1) and consider this a retest of 100 which would be in line with the US BHP wave count, any way as always one support level at a time

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.45+
US Nickel:             Last: 9.07+
US Zinc:                Last: 0.84+
US Aluminium       Last: 0.98+

Copper CFD: 345
There is strong resistance at these current highs 345, 348, 350. Expect the price to slow down into these numbers, this will also slow down other related markets Nickel, AUD, BHP…

Forex

US Dollar CFD: 76.20
We should be seeing support now for the Dollar at 76 and resistance for the Euro 140.
As there are five waves down from the last high 77.77 to current lows this is the same for the Euro to the upside, this slowing down in support and resistance doesn’t mean the end  as there can be another wave to come, this is the same for Indices and we will go over this in the EarlyBird video The other point is that the Euro is moving up on lower volume over the last two sessions, this helps confirm the 140 as resistance

EURUSD 1.3947
TradingLevels: 13930 is the top of SG1 if it maintains support then it will continue to testing the Midpoint 13950, if support is found on the Midpoint trade long to SG2 with the 13972 as the profit taking, if this 72 finds support trade up again. If the 13930 (13927) fails to hold then look short, but getting through SG1 levels is normally bouncy.
Elliott Wave: Count five waves up from the 13655 low to the current high, which can go to 140, in this five waves we are in the last 5^th wave which starts from the around the 13820, which can be completed at 13950 this would only be confirmed if the price broke down through 13920 – 139. The reality is that 13930 has support
Trading Strategy: Trading the Sublevels as a possible retest of 139 is possible .

AUDUSD 1.0480
TradingLevels: The test of the 1.05 is under way and expect a reaction and a corrective pattern here, not a trend.. Expect the normal TradingLevels pattern, Reaction, Support, First High, ABC correction at 1.05, the number 5 is the second strongest number psychologically.  
Elliott Wave: There are two ways to count the impulse wave up, one version is covered on the Elliott Charts in the AUDUSD section and the other here in the EarlyBird, but for the short term it doesn’t matter as the price will be working the 1.50 level
Trading Strategy: Working trades around a whole number like 1.05 we need to also work with the smaller levels both sides of the 1.05 the SG1 above and the SG2 below

Indices

Dow Jones CFD 11,900
TradingLevels: 12,000 Resistance
Elliott Wave: The 61.8% retracement level from May 12,876 to the current low Oct 10,404 is roughly 11,930, so we can accept 12,000 as a top, however if the 12,000 has the normal corrective pattern (abc) then finds supports, then we can expect a much bigger move in the Dow. We can and will also be looking at other markets like the Dow Transports, its 61.8% and closet largest number is 5000, both the 5000 and the 12000 are also supply levels (sellers) and this would be true for other markets and Indices, so we have to expect the market to slow down into these numbers, if they find support then fine, if not they will become the resistances and we are short again
Trading Strategy:  Expecting the Indices to slow down into these large numbers, we can expect this in the Currencies and Metals.

S&P500 CFD: 1,252
TradingLevels: Allow time for the normal corrective pattern to unfold at the Midpoint 1250, if after three swings, abc pattern the price finds support then trade to 1272 and exit. If the 1250 fails to develop support then a top is in place. The squaring of the corrective pattern at 1200 can get the price to 1280  
Wave count: counting five wave up from 1200 last low, the current intraday high is either wave three or five, if its three then expect and abc at the Midpoint 1250 then another smaller five waves up to 1272 SG2, if the price move down below 1227 then a top is in place, but of course from a trading point of view that’s too late so work the 1250 and understand the levels above and below the 1250 as 1253 and 1248 being group1 and 2
Trading Strategy: wait and work the sublevels

FTSE 100 CFD: 5550
TradingLevels: There is plenty of resistance at this high 5555
Elliott Wave: Five waves up completed from the 5350 to the current high
The 5600 is the 61.8% retracement level
Trading Strategy: Look for weakness from this high, the 5530 I 5520 I 5510 SG1 will create support from a bouncy price action, but if true weakness is going to come in from this high then look for Impulse waves down (five wave structures on the intraday chart) Otherwise wait for the 5550 to become support before trading higher

SPI CFD 4275
TradingLevels: Expect weakness to start here 4272 Lock in 75% profits
Elliott Wave: Impulse wave up, counting the five waves up from the last low  4115 that should complete into 4300 – 4330+
Trading Strategy: There is resistance ahead from 4272 - 4333

Summary

The DJI SP500 FSTE are at or close to their 61.8% retracement levels from the May highs, these levels are also supply (sellers) levels, there are also wave counts that also complete in these areas, we have to expect resistance. Yes ASX stocks will run up while the Indices are at highs, but understand there is resistance ahead and profits on longs need protection.

If Indices, after a corrective pattern find support on their respective levels Dow 12,000 ASX 200 4300 we will go long.

Base metals, precious metals and currencies are also at their resistance levels, so all markets will work together, the AUD at 1.04 the Euro at 140, Copper 350 Gold 1650 and so on.

Weekly Cycle; Tuesday morning is profit taking with the trend resuming afternoon

Trading Quote
Your imagination is as good and as deep as your pockets

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
  
8:45am  NZD        CPI q/q    0.8% 1.0%  
9:00am  EUR        ECB President Trichet Speaks      
10:00am  AUD        CB Leading Index m/m     -0.1%  
10:00am  AUD        RBA Deputy Gov Battellino Speaks      
5:00pm  CHF        UBS Consumption Indicator     0.79  
5:00pm  EUR        GfK German Consumer Climate    5.1 5.2  
7:00pm  EUR        Italian Retail Sales m/m    0.1% -0.1%  
7:30pm  GBP        Current Account    -9.9B -9.4B  
7:30pm  GBP        BBA Mortgage Approvals    36.3K 35.2K  
7:45pm  GBP        BOE Gov King Speaks      
11:30pm  CAD        Core Retail Sales m/m    0.4% 0.0%  
11:30pm  CAD        Retail Sales m/m    0.5% -0.6%  
12:00am  CAD        BOC Rate Statement      
12:00am  CAD        Overnight Rate    1.00% 1.00%  
12:00am  EUR        Belgium NBB Business Climate     -9.4  
12:00am  USD        S&P/CS Composite-20 HPI y/y    -3.6% -4.1%  
1:00am  USD        CB Consumer Confidence    46.2 45.4  
1:00am  USD        OFHEO HPI m/m    0.1% 0.8%  
1:00am  USD        Richmond Manufacturing Index    2 -6  
3:30am  GBP        MPC Member Bean Speaks 

NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

Good Morning & Good Luck!

A Leading Technical Analysis Video ‘CFD Trading Strategies Report’ 
In-depth Analysis DJI SP500 FSTE SPI ASX200 Gold Copper Oil Forex AUDUSD EURUSD Dollar & CFD Trades FREE TRIAL

EarlyBird – Technical Analysis CFD Trading Report – The Day Ahead



Dow Jones – 11,304 -1.64% (7AM Price)
Base Metals Negative
US Gold CFD: 1690
Oil WTI CFD: 96.50
Copper CFD: 327
US Dollar CFD: 79
EURUSD 1.3350
AUDUSD 97.10
Dow Jones CFD 11,300
S&P500 CFD: 1190
FTSE 100 CFD: 5130
SPI CFD 4030

News
U.S. stocks tumbled Wednesday as surprisingly poor demand at a German government-bond auction and weak Chinese data weighed on investor sentiment.

The Dow Jones Industrial Average fell 160 points, or 1.4%, to 11333 in midday trading, after falling as many as 215 points. The Dow's early declines puts the index on pace for a third straight decline, following a two-day fall of 2.6% that left the Dow at a five-week low. With Wednesday's fall, the Dow has now given up half of its October rally, which saw the blue-chip index log its biggest month of gains since 2002.

CFD Commodities

US Gold CFD: 1690
As you know the move up is being counted as a wave iv) rally and didn’t quite get to the targets as gold followed Indices and the Dollar move up, this is all normal flow, however you have to be a bit careful with wave fours as they are normally more complicated that wave two rallies, so in this case the move up may only be the first leg of three swings, the current move down from the 1710 as the second, that said if any of the levels in  SG2 (1780\ 1772 | 1765 become resistance then build the trade into these, or you could even , but with higher risk short any second failed retest of 1700, this is why its good not to over trade and build in positions at different prices and if the trade works against you just unwind each one at the right time and if the market then moves through the levels in your favour then build then back in again, it’s about being flexible at the right time and with the position sizing Less is More.
Once this wave four is complete we can expect gold to make new lows, the US dollar reaching 80 would be good to keep in mind

Sliver should now stay under the last high 33

Oil WTI CFD: 96.50
Much the same - Oil follows stock and this is a bounce of the Midpoint mTL5 | 95.00 as mentioned before once Oil is under 95 as resistance then we can consider the main trend up broken. Traders can use the 98.00 | 97.72 | 97.00 | 96.50 | 96.00 then the 95.00 as the main resistance

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.28-
US Nickel:             Last: 7.43-
US Zinc:                Last: 0.86-
US Aluminium       Last: 0.89-

Copper CFD: 327
Copper is sinking into Minor Group1 330 | 320 | 310 the 320 is the all-important pivot, this as resistance seals it fait to 300 TL3 the Major TradingLevel
The Elliott Wave pattern down from 372  the current low, is still not a good looking impulse wave it still has possible corrective subtleties, which could see a bounce when the ASX200 touches on 4000, so Copper on 300 and ASX 200 around or lower than 4000 and the Chinese markets on a double bottom, will likely put our Australian short trades at risk, any way we have time to work this out.

Forex

US Dollar CFD: 79
The price should dance around 79.00 and then move to 80 (TL8) the Major TradingLevel.
Its only natural to expect swings across this level not only in the near term but also in the bigger picture, that said the trend is up and the Elliott count is up so the longer term direction is up for the dollar and down for the Euro.
Finding support on TL8 is significant for the bigger picture for portfolios and holding cash in any other currency, once support has been found and the price can go to 83.00 Minor Group1 and then retest 80 etc., but once the 80 has been tested as support this is yet another signal to move assets around, as mentioned earlier in the year shifting a precent AUD cash into US dollars via a local bank’s foreign currency holding account is part of the overall plan and once support is found on 80 another part in cash can be moved.  

EURUSD 1.3350
TradingLevels: In the bigger picture - On the daily chart there is a trendline of support that should be notes, which cuts through around the 133 group1 level, the price will eventually move through the trend line to 130 and probably retest the trendline, this may not be the case but its something that we should keep in mind when work the smaller degree of the Elliott count
Elliott Wave: Now that the Euro has moved down from the corrective pattern at 135 the Elliott wave analysis is easier to work as corrections can be the weak spot in Elliott analysis, any way check the Elliott count on the charts
Trading Strategy: If you are short from the 135 – SG2 (13480 | 13472 | 13465) then well done. The TLT (Treasuries) Elliott count support the US Dollar moving up and therefore the Euro down and the French and Belgian bond yields are surging and therefore part of the current catalyst as the drivers. Trading the Euro short simply depends on your trading time frame, however the Daily and Weekly and even Monthly Robo are being used here. Otherwise simply trade the sublevels. The Dollar will spend a short time at 79 and more at 80 so you need to line this up with the Euro price points, the trend line mentioned above can be an important technical, but it is 130 and Group1 (133 | 132 |131) seen and understood as a group with the 132 as the pivot (support or resistance) can be very useful, you should expect a hard time here and the same for the Dollar at 80, its best to expect the worst rather than hope for the best, you don’t have control over this, this is not about positive thinking and creating your own futures thoughts in to reality, this is about preparation and opportunity meeting you want in the longer term the 130 as resistance and you want the Group1 to hold the price to 130 for the struggle rather than a strong bounce off the trendline and the 130, so if the price gets through to 130 you don’t want to see it find support back on the top of group1 133, sure it can trade above it but you don’t want it finding support as this create the foundation for a move up. Any way we are not even there yet, so for the short tern expect a bounce off the 133 on arrival

AUDUSD 97.10
TradingLevels: The price is at 97 so you need to give it time, you should be looking at SG1 above 97 and SG2 below 97 as the support and the resistance. The move up is a rally as the Dollar has a quick check of the 79. If your patient and give the price time within the SG1 and SG2 with the 97 as the line in the sand, you will be able to work out when the rally has run out of steam and what price levels the price is trapped at, you do need to understand how to see and work both SG1 and SG2 for a bullish market and a bearish market and a corrective market rally like this. The Elliott wave can be helpful in recognising patterns
Elliott Wave: the small rally up off the lows from SG2 is currently in three waves so this is corrective but it can turn into five waves Impulse, if it is five waves, then after a abc correction there will be another five waves which in turn can take it higher than the SG1, it’s still only 530AM let’s see what the pattern is when I make the video
Trading Strategy: The rally up from SG2 is just that a rally but how far will it go, try and recognise the Elliott pattern then use the levels to work a trade in either direction

Indices

Dow Jones CFD 11,300
TradingLevels: It’s great to see the prices down, because we are short, however the Gap in the futures markets on most Indices is a concern, for the Dow it’s around the 1800. That said we are in a series of wave threes of Intermediate degree and we should expect as mentioned before the market to pick up speed to the downside and that is what we are seeing. There is volume support in the bigger picture up from the lows of Sept under the 11,000, this 11,000 is also the 61.8% retracement level of the Oct run up so the 11,000 say to 10,800 is the general support, this is the next real space to watch for support, so you can image if this next support fails to hold, then we are at 10,000 TL1
Elliott Wave: Minute Wave 3) of Minor Wave 3 of Intermediate Wave (3)
Trading Strategy:  The 11,500 was easy, but it’s always safer to look at the worst case and work down from that. The next short term supports are 11,300 | 11,200 | 11,100
For the intraday trader use the 1300 and the SG2 11,280 | 11,272 | 11,265 the 11,272 is very important as support or resistance a low close to this price  is also the end of an impulse wave down from the 11,500 I will explain this in the video we can see a retest back to 11500 from here?

S&P500 CFD: 1190
TradingLevels: Once the SP500 has SG2 1180 |1172 | 1165 as the resistance then the market is forced down through the next support 1150 the Midpoint and all is on track for lower price towards the 1100 mTL1 ( MinorLevel 1) being trapped under 1200 mTL2 places the price at 1,000 TL1 this is how Group1 works in any degree, this probably is extremely  high when using Group1 like this in a negative market
Wave count: Wave (iii) to the 1150
Trading Strategy: The Gap is not being covered on any of the futures markets, this is a concern but we will stay with the current unfolding impulse waves down, so continue to short the retest of the sublevels

FTSE 100 CFD: 5130
TradingLevels: This large third wave is powerful we will see the prices at 5000 shortly, but expect bounces at all the right places 5100 and the sublevels
Elliott Wave: There is more downside in the impulse wave in line with the US  markets
Trading Strategy: Depending on your strategy time frame, for the bigger picture was to glean small short positions under the 5500 and though Group1 with the aim of waiting for the 5000 to become the retested resistance so we can add to short positions, this still is the case but we don’t know if the 5000 will give us a hard time or not, normally it would however the US indices are in and Intermediate wave (3) down, this is a powerful structure, this is where countries ban short selling

SPI CFD 4030
TradingLevels: There is support around 4000 for the ASX200 and the SPI this is psychological, the 61.8% is at mTL8 | 3800 Indicator will be presenting over sold signals but as always use each level as support and resistance, try and work out the Elliott pattern within the degree time frame you are working and check on the volume to confirm the price action
Elliott Wave: Its more important to work the levels now that the 4000 is on the door step, the Elliot wave count is down
Trading Strategy: Expect the price to sink into 4000. One of the better times to get a position in the SPI is in the US afternoon session, the current daylight saving is on your side, but I guess if you up at that time you may as well trade the Dow as it moves faster.

Summary

The US markets continue to move down and from the Elliott perspective the powerful intermediate Wave (3) is certainly unfolding on track.
The wave 3 up in US treasuries confirms the US Dollar wave count and therefore pushes down the Euro, the Euro and the SP500 | Dow will work in line with the Euro and so will our AUD and ASX.
Traders swap Gold for US Dollars and the base metals are not far behind the precious metals, so all in all, all markets are doing the right thing and we are short, we could of would of should have had more short positions, but we played it safe and took the worst case scenario of a unknown bounce off the 11500 on the Dow but the holding pattern was small and turned out to be nothing to worry about, but I still feel we play the choice technically.
The Intermediate Wave (3) in the Dow is clearing out supports with a flick, the next really supports are the old low from Sept there are orders here traders bought here, they will buy again, there should be a bounce unless something crazy happens which is also possible, the current drivers are the French and Belgian Bonds peaking, but the real problems haven’t started yet, the big fish haven’t been notice yet, how many people does Greece have? Would have to be under 10 Million people, that’s a small problem really… Any way there is support from the 10500 to 11000 for the down this is real and we need to observe this battle of volumes, if the 11500 was retested properly and it still may, however the nromaly flow is a retest of the 11500 and if it fails then the 10,000 is the target the volume support will fade under the selling pressure, the 11,000 is also the 61.8% retracement of the Oct rally, this also see the US Dollar at 80 and the ASX200 at the 4000 but more importantly its 618% of the 2009 rally at 3800 and the Copper market at 300 and then the Chinese Markets at a double bottom, so there is support all around the world, but the wave count in the main markets treasuries, Indices, currencies etc. suggests these supports will disappear  

Trading Quote

Volatility is greatest at turning points, diminishing as a new trend becomes established.-George Soros

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
  
8:45am  NZD        Trade Balance    -454M -751M  
6:00pm  EUR        German Final GDP q/q    0.5% 0.5%  
Tentative  CHF        Employment Level       
Postponed  GBP        Housing Equity Withdrawal q/q    -5.9B -5.8B  
8:00pm  EUR        German Ifo Business Climate    105.5 106.4  
8:30pm  GBP        Revised GDP q/q    0.5% 0.5%  
8:30pm  GBP        Prelim Business Investment q/q     11.6%  
8:30pm  GBP        Index of Services 3m/3m    0.3% 0.4%  
11:00pm  GBP        CBI Industrial Order Expectations    -19 -18  
All Day  USD        Bank Holiday      
12:30am  CAD        Corporate Profits q/q     -4.9%  
1:00am  EUR        Belgium NBB Business Climate    -11.3 -10.4

NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

Good Morning & Good Luck!

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

Forex Trading
Forex Trading | Currency Trading | Forex Elliott Wave | Forex Trading Strategies | Forex Technical Analysis | Forex Analyst | Forex Trading levels | Forex Analysis | Forex Strategy | Forex Scalping | Forex AUDUSD | Forex EURUSD | Forex GBPUSD | Forex USDCAD | Forex JPYUSD |  Forex USDCHF | Elliott Wave AUDUSD | Elliott Wave EURUSD | Elliott Wave US Dollar | Forex Mentor | Forex Trading Coach 

Technical Analysis Elliott Wave Eur/Usd 1 Hour Chart Currency Trading
Forex Trading Euro is in a recovery mode from 1.3211 mark, when an impulsive fall from 1.3568 found the bottom. As such, the minimum expectations for the near-term is a 3-waves of a recovery, primary labeled in a wave (ii) towards 1.3400; wave four territory of a one lesser degree! Currently, we coudl be in wave a), so waves b) and c) yet to come.
The other more complex wave count is w)-x)-y) correction while we we are above!
Monday, 28 November 2011 at 7:00:00PM AEST

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!

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.

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

Forex Trading Strategies Elliott Wave AUDUSD

Elliott Wave AUDUSD 1 Hour Chart

Currency Trading: US Dollar CFD Strategy - TradingLevels
US Dollar CFD: 78.37
On our Euro charts we have the pattern as corrective and should push up from current lows and therefor would see the dollar down from the current SG2 {78.80 | 78.72 | 78.65} zone, so if the 78.65 becomes the resistance then expect the price down to 78.50 Midpoint and lower, if however the price finds support on the 78.72 then the 78.80 then obviously the move up has started, when it comes to trading the support and resistance on the price points are more important than the guessing game of Elliott, once this penny drops your trading and consistency  improves 

CFD Forex Trading Strategies Elliott Wave Count EURUSD

Eur/Usd 4 Hour Chart
Friday, 9 December 2011 at 5:40:00PM AEST

-sideways

Even after yesterdays fall on Eur/usd, the price action from Nov 25 still looks unclear and very choppy. We also do not have any strong evidences which would confirm immediate, further weakness on this pair. As such, pair simply may still be trapped in sideways price action; incomplete corrective wave 2), with wave B in progress towards 1.3200. Only a decisive break of that level will suggest that pair is going much deeper!

Technical Analysis Forex Trading GBPUSD Elliott Wave

Gbp/Usd 1 Hour Chart Elliott Wave

Cable reversed very nicely on Friday after a spike up to 1.5743 which appears to be a wave (E) of a fourth wave triangle. If thats the case, then prices shoudl now continue lower impulsively, towards 1.5460 projected Fibo level.

Forex Trading CFD Report - Technical Analysis AUDUSD EURUSD Dollar

US Dollar CFD: 80
There are two positive wave counts here, not that is matters that much, as the main point and the main trend is up. The 80 (TL8) is a Major TradingLevel and we can expect swings across TL8, not only in the near term, but also in the medium term. Like gold edging lower through 1650 and 1500 the Dollar will edge higher


EURUSD 1.3075
TradingLevels: The MinorLevel and the top of Minor Group1 is 1.30, while the Dollar is spending time at TL8|80 the Euro will spend time at mTL3|1.30
Elliott Wave: Wave three makes new low
Trading Strategy: In the bigger picture you understand the Euro is in a major trend down and the Euro, when trending strongly has shallow retracement levels, this of course doesn’t make it any easier to trade, but they are two important points that can offer comfort if your trading daily weekly or monthly bars with the Robo method. Another important point, is that the Euro appears to be leading the bear market the SP500 hasn’t caught up yet, so you could be on your own here

Currency Trading US Dollar Technical Analysis

Currency Trading

US Dollar CFD: 80.50
The shorter trend to count is the move up from 78 which should top out at 81 or 82 and fold back to 80 checking for support, start counting the waves up from 78 I think the current high is nearly the top of wave three, so a four and five to  go then a larger pull back towards 80, I know I’m a little loose here with prices, it’s just that the Euro is so news driven waves can extend or contract form market intervention, it’s not the normal psychological flow, we see this a lot with the yen

Forex Trading report AUDUSD Elliott Wave TradingLevels - Peter Mathers

AUDUSD 0.9930
TradingLevels: The Euro is will find support on 130 and the AUD on 99, the TL1 | 1.00 hasn’t been retested yet, which is normally done from the 99 and the 98.  The 98 is the first MinorLevel and is also lower trend line support, so consider it the main support below the 1.00
Elliott Wave: Wave C of Triangle (E) below 1.00 (see 4 Hour Chart)
Trading Strategy:  Continue to scalp through the sublevels while around 1.00

Forex Trading

CFD Forex Trading Report AUDUSD

AUDUSD 0.9980
TradingLevels: The retest of 1.00 is still under way and it’s from being a little patient here, if the price finds support on 1.00 then scalp long and if the 99.72 becomes the retested resistance then look for short trade set ups.
We also have to expect in the slightly bigger picture for the price to spend time swinging across 1.00 in the 103 – 98 range, the reason for this assumption is the larger triangle pattern back from September as it has lower highs and lower highs basically driving the price into 1.00 it will in time come out from 1.00 and that’s the trend we need.
Elliott Wave: Wave C of Triangle (E) below 1.00 (see 4 Hour Chart) A move above 1.0030 creates a larger corrective and a different wave structure, we will talk about this if it occurs
Forex Trading Strategy:  Continue to scalp through the sublevels while around 1.00