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Usd/Jpy "Correction Completed" ?

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Elliott Wave Service
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Jul 26 2010

An upward correction is shown on Usd/Jpy, which moved higher recently, just above the 87.56 region from where a turning point is expected. An upward corrective structure seems to be a double zig-zag pattern, labeled as (w)-(x)-(y). If that is the case, then prices should turn into a lower black wave 5 soon, with moves towards the 86.30 lows, while the pair trades below 88.37 wave 1 region. Bears to come!

Usd/Jpy 4h chart:



Oil "Correction Unfolding"

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Jul 27 2010

An upward correction on oil, shown from 67 low is still underway, and may reach the 83.00 region, before top of a corrective wave II is seen. An upward bounce is a double zig-zag pattern, with wave (C) of (Y) in process. Once wave II is finished, a huge and powerful turning point will be seen!! Prices must not expected 87.00 top from May 3rd.

Oil daily chart:


S&P 500 "Corrective Uptrend"

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Jul 27 2010

The S&P moved above the 1100 region on Friday, and even higher yesterday with moves towards the 1114 region. The price action suggests that a red wave 3) of blue (C) is now in process, which is trading close to 161.8% and 261.8% Fibonacci extension levels, from where we may see some down-side pressure, into a corrective red wave 4). Overall, bulls remain in play as long as the prices trade above the 1088 wave 1) top.

S&P 1h chart:




Cable Searching for a Top

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Jul 28 2010

Cable is still trading powerfully higher since the 1.5118 zone was reached, and has been one of the strongest currencies since then. As such, the recent decline from 1.5470 top was only a corrective A)-B)-C), zig-zag pattern, which means that impulsive structure is now underway, a blue wave (C) that may find the top very soon, somewhere around Fibonacci resistance region maybe?!

Gbp/Usd 4h chart:




Usd/Chf Lows in place?!

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Jul 29 2010

Usd/Chf moved nicely higher over the past few days, and is showing quite sharp structure from its lows, which could be a red wave 1), a first leg of some larger bullish move. As such, traders must be very careful and patient now as a corrective pull-back may be see in the near-term, shown as a red wave 2). Overall, bulls are now in play, as long as the 1.0393 lows are in place!

Usd/Chf 4h chart:




S&P 500 " Resistance at 1130-1140"

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Aug 03 2010

S&P 500 moved higher yesterday as expected, after the wave 4) found the support at 1088 region, which means that wave 5) is now in progress. New highs were already reached, so a top could actually be very near, but its too soon to call a turning point. Most likely we will see test of quite strong resistance region shown at 1130-1140 region, where top of a whole upward corrective wave II could be seen.

S&P 500 1h chart:




Gold: Temporary Low in Place

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Aug 04 2010 EDT

Gold reversed powerfully in the past week from 1156 region where a temporary low has been established. We believe that an impulsive decline from 1265 top is in place, labelled as a blue wave (1), followed by an upward bounce, which should be a corrective blue wave (2). Prices already moved above upper trend-line resistance, which now suggests for more bulls to come, but a corrective red wave B) should be seen, before even higher levels are reached.

Gold 4h chart:




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