Elliott Wave Analysis for major Currency pairs

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

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USD/JPY

The market movement has confirmed the expected outlook.

The intermediate impulsive wave, like an extension third, could be over and, with it, Primary wave [1] of Cycle wave I of the new SuperCycle Bull Market .

 

Preferred count: correction in downward wave [2] : 1 minor of (a) intermediate of [2] Primary

Alternate count: still in intermediate wave (5) of [1] Primary, the last top was  Alt:1 minor

EUR/JPY

Also the market movement of this Currency pair has confirmed the expected outlook.

Main count: we are in the final wave 5 of minor wave 5 of intermediate wave (1) of Primary [1]
Alternate count: we have already reached the top of wave Alt:(1)

GBP/USD

The previous outlook (bearish) was incorrect because the market has turned upward with another bullish move.

The pattern in progress is vague and not appropriate for trading.

 

Preferred scenario : we could be in wave c minor of (e) of [B]

First alternate: we are in wave Alt:2 of Alt:(1) of upward Alt:[C]

 

 

EUR/GBP

In the previous outlook I expected a completion of downward wave (x) and the next bullish wave (y) .
After a few months it seems that the market has moved in accordance with this forecast even if, sincerly, wave (y) was shorter than planned.
Now this Currency pair could be in interesting juncture.

Main count: a diagonal wave c of downward wave (a)/(w) is ending; ready for a bullish reversal.
Alternate count: the bearsh wave in ending is Alt:(2) of Alt:[1] of the new Cycle bull market Alt: III/C

  

 

 

EUR/USD

As I wrote in other post "always in contrasted and unclear trend, with no interesting setup"
The wave (e) of triangular wave [B] is not over. Slightly bullish (but with the classic indecision).

 

 

 

AUD/USD

The previous outlook was incorrect because the market had already reached a top and tacked down, probably in a new SuperCycle bearish wave.

Main count: Intermediate wave (1)/(a) of new downward wave [1]/[A] seems completed; the expectation is for a rebound in wave (2)/(b) .
 

 

Have a great weekend ;-)

ElwaveSurfer