Thu 21-02-2019
Hi everyone, hope you are all ok.
USDJPY
USDJPY has not made any decisive moves yet; It is following a small trend on the way up, however, the lack of impulsive moves and the breaking of this trend to the downside suggests more towards the alternate count of a current Wave (iv) developing which should end before previous Wave (i) high at 109.86
Watch for the break out of this small trend to determine the correct count.
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD seem to finally completed Wave ii at between %62 and %76 Fib retracement levels and start developing the first Waves of Wave iii upwards.
60Mins
4Hours
Daily
USDCHF
USDCHF has made me realise that Wave [i] is now finished with Wave [ii] correction underway now with Wave a completing in 5 waves for Wave a, and currently going through Wave b, suggesting a ZigZag correction (5,3,5) towards lower levels of support.
60Mins
4Hours
Daily
EURUSD
EURUSD has not shown much price action today and it is still making small slow moves up into the last Wave c of Wave ii within a trend.
Tomorrow expect prices to carry on higher towards the %50 / %62 Fib retracement before Wave ii starts the impulsive waves down.
60Mins
4Hours
Daily
EURCHF
EURCHF is still stuck on the trend (green) level suggesting a form of correction which could still be Wave iv developing.
This could mean that a pull out of this trend would make a small move toward the yellow trend to complete Wave v and, with that, Wave (c) and Wave [ii] towards the %50 Fib retracement.
Once Wave [ii] is complete raising impulsive waves will indicate the start of Wave (i) upwards towards resistance levels targeting at the 1.1440 area.
60Mins
4Hours
Daily
EURGBP
EURGBP has not shown much price action either and is still going through Wave iv correction before the last drop lower into Wave v to complete Wave (i) of Wave [iii].
Once Wave (i) is completed, probably at the lower trend (cyan), we should expect a raise for Wave (ii) correction towards the %50 Fib retracement, although the strong bearishness that is showing this pair could see that retracement lower again.
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD has stalled within resistance levels and the %62 Fib retracement but still showing bullishness, perhaps towards the %76 or, if the price raises more towards the alternate count for a larger Wave [ii] (best seen on the Daily and 4Hour Charts).
As per current count, if the trend changes to show impulsive waves to the downside after hitting key Fib retracements (i.e. %76) Wave (iii) would then be underway.
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
4Hours
Daily
AUDUSD
AUDUSD has cancelled the count I had and, once again has made me struggle to find a visible count to follow.
I have labelled the move as an extended Wave (ii), as it has not broken previous Wave (ii) levels of support (0.7057) and, hence that count remains valid.
Only further price action to the upside would prove that Wave i is on the way.
60Mins
4Hours
Daily
Weekly
All the best for everyone.
Andres
Trading Waves .org
