"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)

Saturday, May 11, 2013

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

In the FOREX page you can see the long-term scenario on weekly charts
and the previous short-term outlook on daily charts and on 4 hours charts.


Main count: what's incredible impulsive wave!
Bullish: we are in wave [iii] of 3 minute of 5 minor of (3) intermediate of [1] Primary; target 105.60.


See the 240 minutes chart; there is a good buy point last Thursday May 9 on the breakout of the flat of wave 2 of 5 of (1) (or in alternate scenario, of the triangle Alt:4 of 5 ); target 139.


Very interesting setup.
After the rebound of wave 2 minor , we should be in the impulsive wave 3 of (1) of [C] .


The alternate scenario prevails; it's likely the completion of the corrective downward wave  c/y of (b)/(x); this currency pair is looking for a support on the  50% Fibonacci's retracement; if it will be broken down,  drop at least until 0.828.


Contrasted and unclear trend, with no interesting setup.
It's likely the completion of downward wave y of b/x .


My main bullish scenario is been denied, the triangular wave [4] is not yet completed.
The down move of the last week gives preference to alternate bearish count, that considers wave of c of (e) in progress.

Have a great weekend ;-)



  1. I'm Eddy from Indonesia, beginner in technical analysis. Your posting really helpful. Thx

  2. Hi Eddy,
    I'm glad that this post was useful.
    If you're at the beginning, a little advice: take the time to study and understand the markets, start to invest a little money, and always uses the stop loss!
    Best wishes for your trading ;-)

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  4. On Aus$, triangle scenario is no more valid. Either we are in flat correction, or complex correction of wave W-X-Y, where we might be in wave 3 of C of Y.

    BTW, I like your view, Gr8 Work. Keep it up.

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