Elliott Wave Analysis for major Currency pairs: EUR/USD, EUR/GBP, EUR/JPY, AUD/USD, GBP/USD , USD/JPY - Update

Starting today, the Forex analysis is enriched by the charts to 240 minutes.

In the FOREX page you could see the long-term scenario on weekly charts

and the previous short-term outlook on daily charts.

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EUR/USD

It's remains the Currency pair with the scenario most confused among those considered.

My preferred count is a correction phase like b/x wave of minor degree;
a first down move (wave [w] or Alt:w ) seems to be ended, so a bounce could start.

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EUR/GBP

March 01, 2013 I wrote: "According to forecast, there was the completion of wave 3 of 3 ; Tuesday, wave 4 is started; it's unlikely a retracement below 85."
I confirm this preferred scenario (neutral/bullish); the wave 4 has built three wave and could be a flat pattern [a]-[b]-[c] already finished or a triangle in progress.

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EUR/JPY

Preferred scenario (bullish); the expected wave 4 of minor degree could already be over; wave 1 of 5 is in completion.
Alternate scenario (neutral/bearish); bounce in the wave Alt:x of wave 4 .

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AUD/USD

March 01, 2013 I wrote:
"The multi-month wave [4] of primary degree is ending with a "throw-under" beyond a triangle pattern, so we could be close to a bottom reversal".
This forecast seems to be correct; wave (e) has bottomed close to 50% Fibonacci retracement of wave (d) ; however a confirmation is needed, and this is the brekout of down-line of the triangle pattern.
Preferred scenario (very bullish): we are in wave [iii] of 1 of 1 of (1)

Alternate scenario; the intermediate triangle pattern is still underway.

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GBP/USD

January 2, 2013 has completed the multi-year triangle wave [B] and started the downward wave [C] of primary degree, we might still be in the minor wave 1 of Intermediate wave (1) .
Preferred scenario; wave 4 of minute degree is started and after the completion, the downward move continues.

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USD/JPY

My previous analysis was incorrect; the intermediate wave (3) is not ended, the target is between 98.8 - 99.86, where the minor wave 5 may be completed, and  and this could happen as early as next week.

Have a great weekend ;-)

ElwaveSurfer