Tue 05-11-2019
Hi everyone, hope you are all ok.
Let's get into it...
USDJPY
USDJPY is showing a Daily Chart with an ongoing Wave [ii] ZigZag (5,3,5) correction in its last internal wave.
Crossing the most recent highest would invalidate the Alternate count and confirm Wave [iii].
The 4Hour Chart is showing very strong impulsive rally up for a potential first internal Wave for Wave [iii].
And the 60Min Chart an initial very steep Wave (i) possibly completed, with 5 internal Waves and very small corrections.
Note that, as mentioned earlier Wave [iii] will be confirmed when the price carries through the price marked by the end of Wave [i] at 108.90.
Soon, we should expect Wave (ii) correction to take the price to retracement levels before Wave (iii) takes the price impulsively higher again.
60Mins
4Hours
Daily
Weekly
EURUSD
EURUSD Daily Chart is showing Wave [ii] was at few pips from invalidating the current count, and possibly towards the Alternate count that aims at the upper trend line and %76 retracement, although the move to the downside again has kept the current count ongoing and is now showing more strenght to the downside.
The 4Hour Chart shows 3 Waves since the completion of Wave (ii); the last Wave has been very impulsive to the downside and, if it is now complete, Wave 4 (blue) should next take the price higher (but not higher than 1.1130 as the end of Wave 1(blue)).
And, once Wave 4 is complete, Wave 5 should continue the impulsive waves down to complete Wave i of (iii).
The 60Min Chart shows more in detail the details and internal Waves' labels.
60Mins
4Hours
Daily
GBPUSD
GBPUSD has moved little throughout this week in the current correction but the current count remains the preferred count as it is looking now to reverse into Wave [iii] to the downside, although it has not picked up very impulsive waves to the downside yet.
(The other Alternate count marked is for an extended Wave [ii] correction reaching the %76 retracement level or slightly higher).
The 4Hour Chart shows Wave ii correction completed at the %76 retracement level and it has started to move slowly to the downside again to what should be Wave iii of Wave (i).
The 60Min Chart is now showing Wave 1 (blue) of Wave iii almost or possibly complete.
I'm expecting the price to drop more impulsively, and the price to continue much lower after Wave 2 correction, to remain the current count valid in this Wave iii continuation.
60Mins
4Hours
Daily
CADJPY
CADJPY Weekly Chart shows 5 clear waves to the downside (2008-2009) and a correction that might have completed in 2015.
Which brought the price back down since then until 2017 (unless the correction is still being extended, as marked in the Alternate counts).
The whole count to today has formed a downwards triangle that also suggest that the price could breakout lower, continuing the mayor trend.
CADJPY Daily Chart shows that the price is targetting the upper triangule trend line in Wave (c) of Wave [ii] with a continuation of Wave v to the upside again.
CADJPY 4Hour Chart is showing that Wave iv has completed at the same height as the end of Wave i by touching the 200EMA and, since then, has moved steadily up while developing Wave v.
CADJPY 60Min Chart is showing the price moving steadilly into possibly 3 waves so far but hard to read clearly as the corrections are very short.
60Mins
4Hours
Daily
Weekly
All the best for everyone and please do not hesitate to contact me if you have any questions or comments.
Andres
info@tradingwaves.org
Trading Waves .org
