"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 25, 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: the wave 4 minute of 5 minor of (3) intermediate of [1] Primary could be ended; final bullish upward move.
Alternate count: a short wave Alt:5 minor is finished so also the wave (3) or Alt:(c)


The count has become cloudy.
Main count: wave [ii] is ending so the wave 3 starts; target 139
Alternate count: we have already reached the top of wave Alt:(1)


the expected downward move has continued
We should be in the pullback of wave 2 minute of 3 minor of (1) of [C] .
Very interesting the Fibonacci price projections in the 60 minutes chart.


In the last post I wrote: "The alternate scenario prevails; it's likely the completion of the corrective downward wave c/y of (b)/(x); "
the y wave seems to be ended; now we should be in the second wave x of a double three pattern.


Still contrasted and unclear trend, with no interesting setup.
We could be in upward [x] wave of downward wave y of b/x .


This currency pair seems to have not yet reached the bottom so the probability that the preferred count is incorrect increase.
Are we in the wave 4 of c of (e) ?

Have a great weekend ;-)


1 comment:

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