Fri 22-03-2019
Hi everyone, hope you are all ok.
USDJPY
USDJPY has completed the week with a drop of 5 waves for the last Wave of corrective Wave [ii] piercing through the %50 Fib retracement.
This suggest that might be heading towards the %62Fib retracement to complete Wave [ii].
Once completed we should start seeing impulsive waves to the upside which would signal the change of trend and start of Wave [iii] to the upside.
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD is still going through Wave (iii) of Wave 3.
It is heading towards the next resistance at 1.3466 which will offer the opportunity for Wave iv correction to take its place before Wave v crosses that resistance to complete Wave 3 to the upside again.
Wave 3(blue) will be confirmed as soon as it crosses the highest of Wave 1(blue) at 1.3466.
60Mins
4Hours
Daily
USDCHF
USDCHF is showing a correction to the upside at the now %50Fib level and 200EMA(Daily Chart),
Although most indications are pointing that the price still will be heading down towards the lower long-term trend line again to complete Wave [ii] at the %62 Fib retracement (best shown in the 4Hour Chart).
60Mins
4Hours
Daily
EURUSD
EURUSD has now completed Wave (iii) of Wave 1 to the downside with very impulsive moves.
It should do another correction for Wave iv to the upside, possibly back to the yellow trend line and resistance levels at 1.1326 level.
From there Wave (v) should take over for another impulsive Wave v to the downside to complete Wave 1 (blue).
60Mins
4Hours
Daily
EURCHF
EURCHF has crossed the %76Fib level of retracement and possibly heading lower towards the lower yellow trend, which is just before the 0Fib level of retracement, to complete Wave [ii].
(any move lower would invalidate the current count)
From Wave [ii] completion we should start seeing impulsive waves to the upside which would offer an opportunity to enter Wave [iii] to the upside.
60Mins
4Hours
Daily
EURGBP
EURGBP has made very impulsive moves to the downside after completing Wave (ii) at the %62Fib retracement level.
It is showing to have completed 3 Waves to the downside and now having Wave 4 correction underway before continuing with Wave v to complete Wave i.
Once Wave i is completed, possibly at the next big area of support (0.8473 area), Wave ii correction will take place.
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD is showing further moves upwards on current Wave c to complete Wave 2(red) in the upper yellow trend.
The alternative count is for an already completed Wave 2(red) which will be triggered if the price now breaks through the lower yellow trend line and confirms that Wave (i) is already underway.
Further moves up would be expected for the current Wave c towards t
60Mins
4Hours
Daily
AUDUSD
Daily & 4Hour Charts:
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] 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) .
Hourly Chart:
The 60Min chart shows to be within a large Wave 2 correction for Wave iii, reaching the %61Fib retracement area soon.
This suggest moves up soon for Wave 3(blue) of Wave iii to start moving impulsively upwards if this count is to be valid.
Further moves down would invalidate the current count and start giving indications that the alternate counts (best shown in the 4Hour and Daily Charts) could take place instead.
60Mins
4Hours
Daily
Weekly
All the best for everyone.
Andres
Trading Waves .org
