Elliott Wave EURUSD

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ELLIOTT WAVE EURUSD – EXAMPLES

Elliott Wave EURUSD Intraday Chart 30 Minute

Friday, 10 June 2011 at 5:37:00AM AEST

Elliott Wave EURUSD bearish fans out there, we think that is the count that you should be looking at. One-two, one-two scenario with resistance seen all the way up to 1.4560; neckline.

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Elliott Wave EURUSD 4Hour Chart

Thursday, 9 June 2011 at 4:30:00PM AEST – correction running out of time

Elliott Wave EURUSD gains slowed down yesterday, as the US stocks market hit new lows, but pair was once again able to found the support after the US close.

From a technical perspective nothing has really changed, as losses found the support at the rising trend-line, which definitely needs to be broken for a change in trend!

We are still monitoring a possible flat formation in wave (2) and ALT count as well, which we believe will be resolved today. If 1.47 can hold, then bears remains in view, if broken on a daily close basis, then we should watch our for acceleration towards 1.49 and higher.

ECB press conference should provide the answers we are looking for.

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Elliott Wave EURUSD Daily

05 June 2011

1.4938 still in place; downtrend possible but its not the case at the moment... keeping eye on ALT scenarios

It seems there is more and more buyers out there who are interested in Euro, since currency bounced from 1.3960 region. For now, our bearish expectations are still valid, as long as the price remains below 1.4938 region, but a rise and a personality definitely does not look bearish at the moment. However, we will not change a wave count yet, but if pair will not turn sharply lower in coming week, then we will look of one of the ALT counts, shown on the chart.

Elliott Wave Eur/usd could be quite tricky in weeks and months ahead, if 1.4938 is out; many different counts possible!

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Elliott Wave EURUSD Weekly Chart

15 May 2011 – temporary top in place; looking for wave C of II

Elliott Wave EURUSD Two extremely bearish weeks for Euro from recent highs and broken trend line connected from start of the year, deiffinitely suggest that we have a top in place on Euro.

Usually when we look for reversal in trend we try to pick least aggressive outlook. As such, we are looking for incomplete wave II) structure, where flat correction appears to be the best idea, with wave B top and lower wave C in process. If that is correct, then five wave decline should send the Eur/usd back towards previous wave A support; near 1.2870 region.

This outlook also suggests that Eur/Usd has already reached high of 2011!

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