Thu 14-03-2019
Hi everyone, hope you are all ok.
USDJPY
USDJPY has finally made an impulsive move up, completing Wave ii at the %76 Fib retracement.
It is now going through the 4th internal correction wave (Wave (iv) (white)) of Wave 1(blue).
Once completed I would expect another raise towards resistance at 112.04 to complete Wave 1.
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD price has stopped at the %50 Fib Retracement level and, although it could still lower towards the lower trend line (light blue) for a %62 or %76 Fib level, it has raised forming two initial waves which could be the start of Wave 3.
For the current count to be valid I would expect an impulsive raise for the continuation of Wave 3 towards resistance and crossing the highest of Wave 1 to confirm the count.
If the price drops from thew lowest of the current Wave 2 lowest it will trigger the alternate count for a lower Wave 2 going towards the trend line for a %62 or %76 Fib retracement.
60Mins
4Hours
Daily
USDCHF
USDCHF is still going through the last leg of Wave c to complete Wave (ii) ZigZag (5,3,5) correction towards %50 Fib levels (initially).
Once Wave (ii) is completed the price should raise in impulsive waves to continue with Wave (iii).
60Mins
4Hours
Daily
EURUSD
EURUSD might have completed Wave 2 today with as ZigZag correction(5,3,5) between %62 and %76 Fib levels.
If so, I would expect Wave 3 to start moving impulsively to the downside and cross the resistance made by the lowest of Wave 1 at the 1.1180 area.
(On the contrary; if the price raises further than the current highest of Wave 2, it would trigger the alternative count)
Once Wave 2 is completed, Wave 3 should continue the impulsive Waves down and break through the lower trend line (yellow) and lower support levels.
60Mins
4Hours
Daily
EURCHF
EURCHF should now have completed a correction for Wave 4 within a triangle formation which should be a false breakout to the downside.
The highest of Wave 1 should hold the prices at 1.1333 for this count to be valid.
So, I would expect soon the price to rally again towards the upper trend line to complete Wave iii.
Once, Wave iii is completed the price should drop back again towards previous lower degree Wave 4 levels.
60Mins
4Hours
Daily
EURGBP
EURGBP seem to have completed the corrective Wave 2 between the %76 and the 0 Fib retracement area.
Any move up further than the highest of Wave (ii) would trigger the alternate count for an extended Wave (ii).
As the current count stands I would expect to see a drop in the price for Wave 3 to continue its way down through Wave (iii).
(this count would only be confirmed once it crosses the lowest of Wave 1).
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD not much price action since yesterday was triggered the alternate count for an extended Wave 2(red) and heading up towards the 1.3500 area (best pictured in the daily and 4Hour Charts) for the %50 Fib retracement area, although could also go higher for %62, if it breaks through the trade line (yellow).
If it resumes the raising now it would have completed Wave 2(red) just above the %38.
Once the correction is completed, the price should start showing impulsive waves to the down side for Wave 3 (red) to start.
60Mins
4Hours
Daily
AUDUSD
AUDUSD 4Hour Chart is showing the price raising from the neckline of a clear Head & Shoulders pattern which is suggesting Wave (iii) could be finally making its way up.
Still not out of the woods yet, so further moves lower than this neckline would trigger the alternative count for an extended Wave [ii] goingtowards 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) .
And, in the 60Min chart it shows to have completed an internal 5 wave structure for the first Wave i up.
and now completed a correction for Wave ii between the %50 and %62 Fib retracement.
It is now raising for a possible Wave iii, so if this count is correct, we should start seeing the price to raise in wave iii towards the 0.7160 areas of resistance.
60Mins
4Hours
Daily
Weekly
All the best for everyone.
Andres
Trading Waves .org
