Hi Traders,
The AUDUSD is scratching the barrel and is soon to reach a major bottom. Once this occurs, a Major Turning Point and a subsequent rally will follow soon. Not to be missed.
Have a look at the blue lines in the monthly chart for the targets
TARGETS
first down to
likely: 0.7501
possibly: 0.7433
maybe: 0.7357
Then up:
likely: 0.7796
possibly: 0.8001-0.8069
maybe: 0.85080-0.8569
ELLIOTT WAVES
The monthly and weekly charts display that we are performing the bottom of major wave 4 (or maybe the first of the 3 major waves that will be part of it).
The daily chart shows that we are performing wave 5 and the 4-hour and 1-hour charts shows that this could happens within a week.
NOTE: This the completion of the "rule of the multiple 5s" ("the 5th of the 5th of the 5th" rule). This is the most important tool of the Elliott Waves Theory to identify major TTPs.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
The Euro (now at 1.085) is in the target area (1.0917-1.0759) - see bottom-right, wave "e" in the monthly chart. Hence, it might rebound to 1.0970 (see 1-hour chart) before resuming the downtrend to the area 1.0419-1.0365.
TARGETS
First up to
likely: 1.0970
possibly: 1.0986-1.0988
maybe: 1.1113
then down
possibly: 1.0419-1.0365.
maybe: 1.0206-1.0104
ELLIOTT WAVES
It's hard to count waves when the movement is so sharp and the waves are not properly well defined. However, the daily chart shows that the Euro should move further down in nine waves.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
Hi Traders,
Time to long the WTI OIL (now at $49.27) as it's supposed to rally to the area $60-62. The present price seems to be a good entry point.
TARGETS
likely: area 58.25-59.49
possibly: area 61.69-62.63
maybe: 63.67
The blue lines in each chart represent possible targets
ELLIOTT WAVES
The OIL completed wave 3 in the weekly chart and started "retracement wave 4".
Waves 1 & 2 in the 4-hour and 1-hour charts are just the beginning of the bigger "retracement wave 4" of the weekly chart.
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
The Aussie Dollar (now at 0.7860) is set to bounce back to 0.8036-0.8067 and higher.
TARGETS
likely: 0.8036-0.8067
possibly: 0.8168 - 0.8156
maybe: 0.8229-0.8260
The new targets are marked with blue horizontal lines in
the monthly, weekly and daily charts.
ELLIOTT WAVES
Note the 4-hour and the 1-hour charts that show the Elliott wave count that shows the unfolding of a typical wave 4 of the daily chart.
monthly chart, click to enlarge
weekly chart, click to enlarge
daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
Hi Traders,
The Aussie Dollar (now at 0.7820) might drop to the area 0.7536-0.7505 before bouncing back to 0.8036-0.8067 and higher.
TARGETS
first down to the area 0.7536-0.7505
then up to:
likely: 0.8036-0.8067
possibly: 0.8168 - 0.8156
maybe: 0.8229-0.8260
The new targets are marked with blue horizontal line in the monthly, weekly and daily charts.
ELLIOTT WAVES
Note the 4-hour and the 1-hour charts that show the start of sub-minuette wave 5 unfolding down to the area 0.7536-0.7505.
monthly chart, click to enlarge
weekly chart, click to enlarge
daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
Hi Traders,
The Euro bottomed at 1.10966 and missed my target for a whisker (1.1091-1.1062). Then it rebounded to 1.15332.
It should now resume the downtrend to finally touch down in the area 1.0917-1.0759. Afterwards, we should see some good rally unless bad news come from Greece and Ukraine.
TARGETS
likely: area 1.0917-1.0759
possibly: area 1.0344-1.0419
maybe: 1.0104-1.0206
ELLIOTT WAVES
The weekly chart below displays all the targets. Wave "e" is not fully displayed because the 1-hour chart is still waiting for one more wave down to the area 1.0917-1.0759.
NOTE: if any bad news comes to the stage we may see the Euro starting an extension that could take it easily below the parity.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
In my view the SPI 200 (now at 5572) is performing the fourth leg of a "Flat" pattern (daily chart) that could top just above 5600. If this is true, the subsequent leg of the flat - wave e - should take the form of a new downtrend to 5000-5100.
TARGETS
first up to
likely: 5583-5594
possibly: 5609
Then down to
likely: 5166-5147
possibly: 5108-5089
ELLIOTT WAVES
The weekly chart displays 3 major ways up (in blue, font 11), as it should be. Major wave 3 is almost completed. The daily chart shows the flat a-b-c-d which should be followed by a downtrend to 5166-5147 to form "wave e" as well as "wave 4" down (e4).
NOTE
The new wave "e4" can potentially move down to the area 4993-5019 (weekly chart).
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
The long running uptrend of USDJPY (now at 117.91) - that started on OCT 31 2011 - could finally come to an end by topping in the area 124-126.
This should be followed by a retracement to the area around 111-109.
TARGETS
first up to:
likely: area 123.734-124.088
possibly: area 124.797-125.683
maybe: 125.759-126.330
then down to:
likely: 115.759-114.962
possibly: 111.683-111.329
maybe: 108.898
ELLIOTT WAVES
The monthly and weekly charts show that wave 9 is approaching the target. In the daily and 4-hour charts this would be wave 13.
In the 4-hour and 1-hour charts note wave 1 and 2 which mark the beginning and the end of the triangle. They will be followed by 3 wave up to the target.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
The AUDUSD needs another little dive just below the 0.78 area before finding some temporary strength to start a trading range between 0.78 and 0.837
TARGETS
first down to
likely: 0.7800
possibly: 0.7693-0.7676
then trading range between 0.78 and 0.837
ELLIOTT WAVES
Weekly and daily charts indicate that the Aussies dollar has almost completed wave 3 (out of 5). This "wave 3" of a major degree is made out of 5 little waves of a minor degree (see 4-hour and 1-hour charts). We still need "minor wave 5" to complete "major wave 3" down.
Then the AUDUSD should be able to bounce back and start the trading range above mentioned. This trading range could eventuate as an "a-b-c-d-e triangle".
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge