cot charts forex
EURUSD small correction is still ongoing, USDJPY corrective action advance at least 97-GBPUSD AUDUSD short term resistance at 1.52-and NZDUSD test highs
Euro / U.S. Dollar
A push above 1.3742 is needed to meet the minimum requirement for the wave Y, at which time I expect a top and reversal (goals in the points are 1.3800 to 1.4200). In the short term, I favor additional weakness, the full correction of 1.3720. Looking for support in the 1.3430/90 zone. Again, the trend is larger than bullish against 1.3251. Cycle degree trend is downwards.
British Pound / U.S. Dollar
Enlarge wave 4 within the 5 wave decline from 2007 high (2.1160) is probably not yet completed. 1.5735, the confluence of 38.2% of the decline from 2.0162 / December 2008 high, seems a likely target. This level intersects with a resistance line at the end of May. In the short term is a correction ongoing decline of 1.5356. Fibonacci support at 1.4868 next cut of a hotline Week. There are short-term resistance at 1.5200. The structure is bullish above 1.4396.
Australian Dollar / U.S. Dollar
The rally, 6953 is wave v of C and the target already been achieved in, 7630 (this is where wave v of C wave i of C equal) would be. The 50% retracement of the decline from, 9822 to, 7693 is suitable for bulls are now only a highly probable this week. Higher RSI 240 minutes on the chart shows that the best may not be in force (tops almost always) occur with momentum deviations. Watch Beginning of the short-Elliott channel resistance after the AUDUSD breaks to new highs. 4. A small wave may be complete. Structure is in front, 7245 bullish.
New Zealand Dollar / U.S. Dollar
Wave structure with the RSI condition stated in the AUDUSD analysis favors a new high in the NZDUSD too. Wave structure in front, 5782 bullish.
U.S. Dollar / Japanese Yen
The USDJPY has broken below the 2 + months head-shoulder neckline. This trend is bearish and even more so in the context of long-term wave structure, A new all-time low (under 80) suggests. A corrective rally is likely now in progress, as it appears in full on 5 waves of 99.72. Resistance starts at 96.70.
U.S. Dollar / Canadian Dollar
I have found in recent days that "5 waves down from 1.2510 are probably as complete a correction back to at least 1.1768 (former 4th wave extreme price) is expected. Since the correction plays this week, then I am top of the identification. "A top place in the vicinity could present form as the price of the former 4th Extreme wave is testing () is a guideline Elliott. From a trading perspective, it is difficult to control the risks at the current Body though.
U.S. Dollar / Swiss Franc
The EURUSD still to its March high of 1.3742 exceeded, the USDCHF is already taking its March low of 1.1157 decreased. In other words, less than expectations for the wave Y. Thus satisfied, it is possible that a low is present. I'm going for the confirmation in the day looking ahead.Jamie Saddles Daily Technical published every weekday morning (930 Clock EST), COT analysis published on Monday (morning), technical analysis of the Currency pairs during the week (EUR on Tuesday, Wednesday Thursday JPY GBP, AUD) on Friday, and the trend index DFX close each day after the New York City. He is also the author of Sentiment in the Forex Market.
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Article Source: ArticlesBase.com – Dollar / Yen Correction Underway – FOREX
Using Commitments of Traders (COT) Data to Trade Forex
