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.

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USD/JPY

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.

EUR/JPY

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.

GBP/USD

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

EUR/GBP

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.

EUR/USD

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

AUD/USD

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 3 of c of (e) in progress.

Have a great weekend ;-)

ElwaveSurfer

SPX - New uptrend in progress

Today the impulsive Elliott wave is converted into 3 extended wave of wave 1/a,  and this confirm the uptrend outlook.
This changes my main scenario, which becomes the first alternate until yesterday.
This count assumes that Friday ended the x wave of minor degree flat type pattern on Fibonacci price retracement 23.6%, and it is already begun the last wave y that will bring the index to new highs.
The new first alternate scenario is a sideways pattern w-x-y-x-z type with fourth wave  x  in  progress,  which means the same impending implications; the confirmation of the uptrend at least up to 1470-1475.
However tomorrow is possible the completion of wave 1/a and the start of wave 2/b.
Have a great trading day...with care!

ElwaveSurfer

SPX - Uncertain situation

The situation is still extremely uncertain.
According to my preferred scenario, the correction is not over; even if the last bearish movement seems impulsive, it appears too short (in time) to be qualified as minuette degree.
However the last minor Elliott wave pattern could also be, like a first alternative, a completed flat a-b-c or an ongoing triangle a-b-c-d-e
The 1428-1425 is a ​​Fibonacci price cluster area and a reaction is possible.
I stay very cautious.
Have a great trading day...with care!

SPX - Sideways corrective wave?

New count (it changes often in the early stage of corrective waves ...).
The first wave began on July 19 and ended July 24, qualified as wave a/w, seems to have corrective properties; if the preferred count is right, wave y should be a sideways or flat or three, do not a zigzag type.
It 's too early to identify the trend, which for now, is choppy.
Have a great trading day...with care!

Nuovo conteggio (esso cambia spesso nella fase iniziale delle onde correttive...)
La prima onda correttiva iniziata il 19 luglio e terminata il 24 luglio, qualificata come onda a/w, sembra aver caratteristiche correttive; se il conteggio preferito è corretto l'onda y in corso dovrebbe essere tipo sideways o flat o three, non tipo zigzag.
E' ancora presto per individuare un trend principale , che per ora, è indeterminato.
Buon trading... e prudenza!