Tue 26-03-2019
Hi everyone, hope you are all ok.
USDJPY
USDJPY has finally completed Wave [ii] to the downside and the trend has now changed to the upside.
Having completed 3 Waves up, it is now developing Wave iv of Wave (i).
(the highest of Wave i at 110.23 should hold prices from dropping further for this count to be valid)
Next, it should be Wave v upwards to complete Wave (i)
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD Is trying to find now the bottom for Wave (iv) correction and it should not be long before it is completed.
(the highest of Wave (i) at 1.3341 should hold the price)
Once Wave (iv) is completed, Wave v should carry the price higher again.
Wave 3(blue) will be confirmed as soon as it crosses the highest of Wave 1(blue) at 1.3466 (so I would expect a large impulsive Wave (v) to cross the next resistance level).
60Mins
4Hours
Daily
USDCHF
USDCHF has not shown much price action today either as it is still mainly moving sideways in a corrective manner.
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 completed Wave (iv) correction and then made an impulsive move downwards for Wave (v).
There is a possibility that Wave (v) is now completed just about crossing previous Wave (iii) low
Either case, once Wave (v) finds a bottom and is completed it will complete Wave 1 (blue).
Wave 2 correction should then take form of 3 Waves to the upside towards the yellow trend again and then Wave 3 should show impulsive waves to the downside again.
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 and I would have to rethink the long term counts)
As this count stands, from Wave [ii] completion I expect to start seeing impulsive waves to the upside which would offer an opportunity to enter Wave [iii] to the upside.
60Mins
4Hours
Daily
EURGBP
EURGBP is showing to have completed 3 Waves to the downside and now having Wave 4 correction could be completed.
Next Wave v should drop the price lower, possibly towards the next level of support (0.8473) to complete Wave i.
There is a possibility of Wave 1 to have completed with a short Wave 5(blue) ending at the current level of support at 0.8529.
In either case, once Wave i is completed, Wave ii correction will take place, probably back towards previous Wave 4(blue) height.
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD although has not shown much price action either today and just moving sideways (a sign of correction) is still 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] 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) .
Hourly Chart:
The 60Min chart shows to ha completed a large Wave 2 correction for Wave iii, which suggest that Wave 3 now should continue the impulsive muves higher towards the 0.7200 area if this count is to be valid.
It has moved further up but still needs to pass resistance levels around 0.7150.
Further moves lower than the lowest of Wave 2 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
