Thu 28-03-2019
Hi everyone, hope you are all ok.
USDJPY
USDJPY completed Wave (ii) correction between %62 and %76 Fib retracement of Wave (i).
Since then it raised impulsively on the initial wave of Wave (iii).
Tomorrow I would expect Wave (iii) to carry on its move upwards through resistance levels towards the 111.20 to 111.40 area.
Once Wave (iii) is completed it should follow Wave (iv) correction back towards the 111.00 area; at which point the highest of Wave (i) should hold the price from dropping lower.
60Mins
4Hours
Daily
Weekly
USDCAD
USDCAD Wave (v) moved up slowly but steadily and, although starting to loose momentum to the upside, it needs to carry the price through the next level of resistance at 1.3466 level for this count to be valid.
It is very likely at this point for the price to fail to cross this level (1.3466), in which case it will trigger the alternative count for an internal greater level of waves (i) and Wave (ii) for Wave 3(blue).
If the current count stands and the price does raise above Wave 1(blue) highest; Once Wave (v) completes it would complete Wave 3(blue and the price should correct lower again for Wave 4(blue).
60Mins
4Hours
Daily
USDCHF
USDCHF is still moving sideways through a small trend (yellow) 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 seems to have finished Wave (v) at the 1.1221 resistance level.
If this is the final bottom for Wave (v) it will complete Wave 1 (blue) and Wave 2 should raise the price in three waves towards the yellow trend.
Once Wave 2 is completed Wave 3 (of Wave iii) should show impulsive waves to the downside again and a low-risk entry opportunity.
60Mins
4Hours
Daily
EURCHF
EURCHF has invalidated the previous count and I have modified the long term count for an extended Wave C(red) to towards the %76Fib retracement, as it is now crossing the %62Fib level.
The %76Fib level would bring the price back towards the blue long-term trend line (best shown on the Daily and 4Hour Charts).
As for the hourly chart it is showing to drop impulsively in three waves to make the last Wave (c) towards the blue trend line at the 1.1000 or below area and and %76Fib levels (1.0968 level).
60Mins
4Hours
Daily
EURGBP
EURGBP might have completed Wave ii correction at the %50 Fib level.
Although it has not moved down yet, which suggest that the price could continue towards the %62Fib levels.
Once Wave ii correction is completed, Wave iii (of Wave (iii)) should move impulsively downwards.
60Mins
4Hours
Daily
Weekly
GBPUSD
GBPUSD The alternative count has been triggered today for an already completed Wave 2(red) as the price broke through the lower yellow trend line and confirmed that Wave (i) (green) is already underway.
Wave iii of Wave (i) is going now through its internal Wave 3(blue) and should reach the bottom soon around the near support level at 1.3006.
From there should do a Wave 4 correction, where the lowest of Wave 1 (1.3141) should hold the price from raising further.
Upon Wave 4 completion, Wave 5 should carry the price towards the lowest of Wave (b) as the biggest support level at 1.2771, where Wave (i) could be completed.
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 moves 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
