Fri 08-02-2019
Hi everyone, hope you all had a nice weekend and are ready for a good week ahead (maybe a historic sell off week for the DOW though).
USDJPY
USDJPY did not come out of the Wave ii trend channel on Friday but it seems very close to completion;
If the lower trend is broken I would expect Wave ii to continue towards the %50 (109.32) or %62 (109.15) Fib Level.
If the upper trend gets broken it would confirm Wave iii is underway towards resistance levels at 111.40.
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USDCAD
USDCAD is going through Wave iv correction after quite a large Wave iii.
Wave iv seem to have already done the first of its corrective waves and might raise slightly before it drops again towards support (1.3200 area) for completion.
Once Wave iv is completed, Wave v should aim at previous Wave b Resistance levels (1.3375 area).
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USDCHF
USDCHF still completing Wave ii (yellow) and the support made by the previous Wave i (white) (@0.9990) should serve as a strong support, possibly as the starting point for Wave iii.
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EURUSD
EURUSD Wave iv did a very small reatracement and it is now continuing through Wave v (blue) to complete Wave i towards support.
At this point (1.1287) we should expect Wave i (pink) to be finished and a corrective Wave ii to start developing towards the %50 or %60 Fibonacci reatracement levels (between 1.1400 and 1.1427).
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EURCHF
EURCHF once again made me change the count with a strong move to the downside into what I have now updated as the new larger Wave [ii].
If this count is correct it should complete the correction before the lowest of Wave [i] @1.1256 which is the 0 Fib level but estimate that the %76 should serve well as the turning point for the start of Wave [iii]
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EURGBP
EURGBP failed to cross the highest of Wave 3 to complete Wave 5 / Wave c / Wave (ii) and then it dropped to the first level of Support for Wave 1 (yellow) of Wave i (blue) and Friday Wave 2 (yellow) seemed to have finished at %50 Fib retracement with a impulsive move at close.
Next, Wave 3 should carry on with the impulsive moves down towards the resistance levels between 0.8682 and 0.8654.
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GBPUSD
GBPUSD seemed to have completed Wave (i) and now going through Wave (ii) correction towards the %50 or %62 Fib and Resistance levels.
Once Wave (ii) is completed, Wave (iii) of Wave [iii] should start impulsive moves downwards.
60Mins
4Hours
Daily
AUDUSD
AUDUSD might have finish Wave (ii) now as it seems to have stalled at previous Wave [ii] support.
If impulsive moves start producing to the upside it will suggest that Wave (iii) has started, although further moves to the downside would make me rethink the whole count again.
60Mins
4Hours
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All the best for everyone.
Andres
Trading Waves .org
