TradingWaves | Elliot Waves Analysis

Thu 10-01-2019

USDJPY

Wave [iii] seems to have started on to what appears to be the first series of waves up on a long term move.

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GBPUSD

Wave iv has taken more time than I expected to develop and now seems to be to the point of lowering slighly towards Support levels @1.2700 before starting the final Wave v on the way towards Resistance @1.2900.

Early next week we should see GBPUSD starting the series of waves down to develop Wave [iii]. (which coincidentally would be at the same time as the last of Brexit parlamentary talks/negotiations...)

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EURUSD

EURUSD is following a very similar wave pattern as GBPUSD on to what it seems to be Wave v underway to complete Wave [ii].

And Wave [iii] down should also comence early next week (Tuesday being the last of Brexit Parlamentary session in UK...)

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EURCHF

EURCHF has crossed the upper Trend in a very impulsive fashion towards Resistance levels at the height of lower degree Wave (iv) and the overbought levels showing already at this stage seem to be very likely to culminate at that point.

Watch out for impulsive moves to the downside that will confirm the start of Wave [v] at that Resistance level.

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AUDUSD

AUDUSD is steadily moving up in a very slow motion but there is not much price action that I can identify clearly to pinpoint without a doubt so I will stick to the original Wave structure where Wave (i) is still underway and Wave (ii) should follow towards Fib retracement levels.

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Weekly

USDCAD

USDCAD has now slowing down the impulsive moves to the downside; showing oversold levels.

Although there is still more room and expentancy to carry further down towards the lower Trend levels.

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USDCHF

USDCHF has finally made the move up in a very impulsive fashion showing a high probability that it is going to carry on in this fashion towards the Upper Trend levels.

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