EURUSD, soon to rally

Hi Traders,

The Euro (now at 1.1027) is set to drop a little to 1.0818-1.0800 but only to start a major rally to 1.18 and above.

TARGETS

first down to 1.0818-1.0800

then up to 

likely: 1.1546- 1.1602

possibly: 1.1871-1.1945

maybe: 1.2335- 1.2390

ELLIOTT WAVES

The monthly and weekly chart displays a compound formation a-b-c-X-a-b-c-W,  where W is still shaping up and will ultimately get the Euro to 1.18.

That formation (a-b-c-X-a-b-c-W) is made out of a Flat, 3 waves up (X), then a Zig-Zag which will be followed by wave W up to 1.18 and over. 

The 4-hour chart shows that the EURUSD must go to 1.0818-1.0800 to complete 5 waves down and eventually start the new uptrend.

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

SPI 200 correction up + last dive

Hi Traders,

The SPI200 (now at 5554) should rally close to the area 5661-5678 followed buy the very last short dive to 5395-5385. Then again, a major rally should follow up.

TARGETS

first up to: 5661-5678

then down to:

likely: 5395-5385
possibly: 5348-5336

Then a major rally should follow

ELLIOTT WAVES

The monthly and weekly charts reveals that there should be only 3 waves up and that we are developing the very last stage of wave 3.

In fact, in the weekly chart, we just need the very last minor wave 5 up (in green, not there yet) to complete the major wave 3 (in grey).

BTW, at this stage, the 4-hour reveals that we still waiting for minor wave 5 down (in magenta) to be finished before starting any rally.

In particular, the 1-hour chart shows that this manor wave 5 is going to be made of 5 waves, the 4th one up still to be completed by reaching the target at 5661-5678.





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

DAX 30 correction

Hi Traders,

The DAX might carry on with his correction till the area 10,853-10,759 before resuming the uptrend to break through the 13,000 ceiling.

TARGETS

likely: 10,853-10,759

ELLIOTT WAVES

The weekly chart shows that the DAX index is on the way to complete the 5th major wave. However, the daily chart indicates that the German Index hasn't even finished with wave 3 (out of 5).

At present we still need to perform wave 4 down and subsequently start wave 5 up just to make wave 3 in blue.

The 4-hour chart reveals that we are currently completing wave 4 of 5.

The 1-hour chart has almost completed 5 minor waves and also suggests that to reach the target at 10,853-10,759 the DAX will probably need a 5-3-5 formation.

It might take till September/November to complete all the waves up required by 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