Wed 13-02-2019
Hi everyone, hope you are all good.
USDJPY
USDJPY is going through Wave 3 (blue) of Wave iii after a small Wave 2 correction.
I would expect Wave 3 to stop at the upper trend and reverse into Wave 4 for a correction, which should be hold by support at 110.63 made by the highest of previous Wave 1.
Once Wave 4 is completed, we should see further impulsive moves in Wave 5 towards resistance at the 111.40 area.
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USDCAD
USDCAD completed Wave iv in the morning and Wave v started to raise higher again towards resistance levels with now Wave 3 (blue) of Wave v.
Wave v should complete Wave (i) at the levels of resistance made by previous Wave b at 1.3377
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USDCHF
USDCHF is going through Wave v (yellow) of Wave iii and, although it has seemed to be stalled at the resistance levels where previous Wave iii (yellow) was completed, I would expect to carry on until the top trend line tomorrow and then start the Wave iv correction.
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EURUSD
EURUSD has given a very bearish signal today with Wave ii appearing to be completed below the %38 Fib retracement level, although Wave iii would not be confirmed until the price crosses the current level of support at 1.1256 created by Wave i.
Once Wave iii is confirmed on the way we should see impulsive moves to the downside with resistance levels located at 1.1214 (by previous Wave [i] (green), which would confirm Wave [iii] (green) also on the way (best pictured in the $Hour Chart).
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EURCHF
EURCHF is now completing Wave iv at the support level made by previous Wave i (1.1355).
If this level of support is crossed to, it would suggest that another Wave i / Wave ii is forming.
Under the current count we should expect Wave v to start and carry the price towards resistance at 1.1444 to complete Wave (i) of Wave [iii].
60Mins
4Hours
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EURGBP
EURGBP seem to have already started Wave 3 (yellow) of Wave i to the downside, although this count would not be confirmed until the low of Wave 1 (yellow) is crossed.
Even then, lets not forget that there is a possibility of an alternative count for a larger Wave (ii), as the current count completes at the resistance between %38 and %50 Fib retracement of Wave (i).
Following the current count, next we should expect Wave 3 to carry prices down crossing the levels of support in impulsive waves.
60Mins
4Hours
Daily
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GBPUSD
GBPUSD started to look similar to EURUSD in the bearish outlook, to what it seems (but not confirmed yet) a very short Wave (ii) to be completed just also around the %38 Fib retracement levels.
If the price starts picking up from here we should expect Wave (ii) to continue higher and, once the price continues below support levels created by previous Wave (i), we could confirm that Wave (iii) is underway and the next levels of support would be at 1.2665
Even lower, the next support formed by the previous Wave [i] would be 1.2475, which, once crossed, would confirm Wave [iii] underway (best pictured in the 4Hour Chart).
60Mins
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AUDUSD
AUDUSD seemed to have started the first Wave i of Wave (iii) upwards, although today it has retraced as soon as it hit the 200EMA line, which could just be part of the series of waves up on another Wave 1/2 within the first wave up.
Either way, support level (0.7057) made by previous Wave (ii) should hold this price if this count is to be valid.
60Mins
4Hours
Daily
Weekly
All the best for everyone.
Andres
Trading Waves .org
