Fri 08-03-2019
Hi everyone, hope you are all ok and had a great weekend.
USDJPY
USDJPY has completed Wave ii with an extended Wave C that reached the %76 Fib Retracement by crossing the lower trend line.
The price entered the trend line again and ended up the session above the trendline, suggesting the start of Wave iii should make the price raise impulsively soon after the start of the next session.
Wave iii (of Wave (iii)) has the target at the upper trend line around the 113.06 area (best pictured in the 4Hour Chart).
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD has Wave iv underway now towards support areas.
The nest level of support stand at 1.3377, 1.3341 and the previous lower degree Wave 4 Wave at 1.3300
(1.3235 should not be crossed for this count to be valid, as the highest of Wave 1).
Once Wave iv completed, Wave v should start raising impulsively towards the 1.3562 area, as the next resistance area after the highest of Wave iii (best pictured in the 4Hour Chart).
60Mins
4Hours
Daily
USDCHF
USDCHF completed Wave iv and started to raise on the end of the session for Wave v.
Wave v should break through the upper trend line towards the next resistance level at 1.0173 area, although if that resistance is broken, the next level of resistance would be at 1.0327 (best pictured in the Daily Chart).
Wave v would complete Wave [iii] so, after its completion there should be a corrective Wave [iv].
60Mins
4Hours
Daily
EURUSD
EURUSD is going through Wave 2 correction, with its Wave (A) completed and now Wave (B) underway.
Given the bearishness in this pair and that the length of Wave (C) should be similar to the length of Wave (A), completion of Wave 2 could be at the %38 Fib retracement area (at resistance levels of 1.1271).
Once Wave 2 is completed, probably around mid-week, Wave 3 should continue the impulsive Waves down and break through the lower trend line.
60Mins
4Hours
Daily
EURCHF
EURCHF might have completed Wave ii with spikes crossing slightly the 0 Fib retracement of Wave i.
I would still would like to consider this Wave ii if the price raises and crosses Wave i highest (1.1367) to confirm Wave iii underway.
In the meantime, next:
If prices, raises would suggest potential for Wave iii.
If prices drops from the lowest of Wave i (at 1.1312) would suggest an extended Wave [ii] to the downside towards the %62 Fib retracement at the 1.1282 area (best seen in the 4Hour Chart).
60Mins
4Hours
Daily
EURGBP
EURGBP has completed a 5-Wave structure for Wave a of Wave (ii).
Then completed a 3-Wave structure for Wave b.
And now I am expecting to see a last 5-Wave structure corrective Wave c for Wave (ii) ZigZag correction (5,3,5) - With Wave 1 already completed and Wave 2 now on the way down for a correction.
The target for Wave (ii) completion lies at the %50 Fib correction (0.8684 area).
Once Wave (ii) is completed, we should see prices drop impulsively for Wave (iii) to make its way.
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD small correction today has made me rethink the 1Hour count for a slight change in the count, where Wave 4 correction fits in place better than a Wave ii correction.
Which leaves now Wave iii complete and a Wave iv correction underway, most probably towards the lower level Wave 4 level (at 1.3070).
Once Wave iv is completed we should see an impulsive Wave v wave downwards completing Wave (i) in the support areas below the long-term lower trend line (between 1.2966 and 1.2926).
60Mins
4Hours
Daily
AUDUSD
AUDUSD 4Hour Chart is showing the price raising from the neckline of a clear Head & Shoulders pattern which should be about to pop anytime now.
Further moves lower than this neckline would trigger the alternative count for an extended Wave [ii] going towards the %76 levels of support, although it is still possible an extended Wave [v] or even a further extended Wave 5, with not much resistance levels to stop the move down (best seen in the 4Hour and Daily charts) .
60Mins
4Hours
Daily
Weekly
All the best for everyone.
Andres
Trading Waves .org
