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USD Index Intra-day

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Nov 02

USD Index is looking bullish after recent rally up to 80.30 area which appears to be wave three of an impulsive structure after a nice reversal higher from a wave (b) low that was a "text book" example of an expanded flat. Market is bullish now for 80.50-80.70 zone



(Video) EURUSD: Triangle Within A Bullish Trend

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Oct 30 2012

Markets are slow and choppy for some time now, and with US equity market closed and low liquidity we think that EURUSD will not break out of this range so soon. But when it will this will most likely be to the upside, if we consider that pair has turned bullish this summer.
On the chart below we can see that pair found the support few sessions back around 1.2880, at the trend-line connected from 1.2800 swing from late September. Notice that today’s rise is quite sharp on the intra-day basis which has also extended through the falling channel line. We think that’s very important, because if price will close above resistance line today, then trend would turn into a temporary bullish mode. Why temporary!? Because we are tracking a triangle and in such case any rally up to 1.3100 will represent wave D), still only fourth leg of a triangle pattern. But we need five of them, so our special focus should be on wave E) low once gets underway. However, it’s still plenty of time until then so we must be patient, and wait on more price data before we may even consider opportunities to the upside.

To hear and learn more about triangles, please review the video below.

Have a good day!



Video: Click here


S&P500: Can Price Hit New All-time High!?

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Oct 27 2012

S&P500 is bullish after a break above 1423 high, now labeled as a (W) that is part of a very complex wave Y that will complete wave D) of a larger expanding triangle. If we are on the right track then market will extend into a new all-time highs, ideally towards 1610 level while 1266 support holds.

Current sideways price action is clearly a corrective movement, a complex wave B) so break higher. is expected.

sp629
 

Intraday Elliott Wave Set-up: EURUSD

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Oct 25 2012

EURUSD is looking bearish now, after three waves up into 61.8% retracement area from where market reversed lower as highlighted yesterday. Support channel line is already broken which definitely puts pair into a bearish mode. If stocks will weaken in the first part of the US session then EUR has no chance.

eurusd


 

 


Elliott Wave- Dollar Index Down; S&P500 Up

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Oct 17 2012

Dollar index extended even lower yesterday, now through the channel support line which puts market into even more bearish mode than before. We believe that wave 5 is underway which should unfold in five waves towards 78.00 projected zone. Any short-term bounce will look for a reversal from a trend-line; broken support becomes resistance.

dx621
 

We think that S&P500 will continue higher and the reason is a three wave of a pull-back from latest 1474 high which we know its a structure of a corrective movement. Ideally that was wave 4 of an incomplete five wave rally in red wave 3. If we are correct, then price will move back above 1480 in the next few weeks that will cause even more bearish pressure on the USD.

 
sp621


(Elliott Wave) EURUSD Sideways Within A Triangle

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Oct 12 2012

EURUSD found the support yesterday and rallied back above 1.2930 after unsuccessful push through 1.2804. As such, our triangle count is still in play. In fact thats now primary labeling for fourth wave, but pattern, however, is still far away from completion. Triangles are five wave patterns, so if we are correct, then market will remain trapped in 1.2800-1.3070 range for few more days as current rally represents wave (d). If our interpretation is correct, then 1.2800-1.2820 support zone should not give way.



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(Elliott Wave) USDCAD Looks Bearish Againts 0.9886

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Oct 10 2012

USDCAD looks very bearish after a sharp fall through channel support line, which we believe it was corrective. If thats the case then we know that larger downtrend should continue as fall from 0.9886 unfolded impulsively, followed by a slow upward reaction in this week, which appears to be wave (ii), part of wave 5. As such, our forecast is still pointing down on USDCAD as long as 0.9886 holds.

usdcad614
 

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