EUR/USD M30

General Overview for 03/12/2014:

Five waves in last impulsive fifth wave has been completed and it looks like the market is ready for a rebound to the upside. The first confirmation comes with the level of 1.2233 breakout and market should target the level of 1.2263 then.

Support/Resistance:

1.2281 – W2

1.2363 – WS1

1.2445 – Weekly Pivot

Trading Recommendations:

Small buy orders might be open from the current price levels with SL just below the level of 1.2300 and TP at the level of 1.2363.

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USD/JPY H4

General Overview for 03/12/2014:

On the H4 time frame chart the count is still messy and some alternate labeling is still valid as the level of 117.09 has not been violated so far. Please notice that the corrective cycle in wave four on this pair, regardless of the degree, might be quite complex and time consuming so patience is needed now. One more sub-wave to the downside is needed however, to complete the wave (c) blue of the corrective cycle.

Support/Resistance:

120.10 – WR2

119.67 – WR1

118.47 – Weekly Pivot

117.97 – WS1

117.09 – Invalidation Line

116.79 – WS2

116.37 – WS3

Trading Recommendations:

The bias remains BULLISH and as long as the level of 117.09 is not violated BUY orders should be opened for swing traders. Daytraders might consider to open a sell orders only for scalping.

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Gold H4 Analysis

General Overview for 03/12/2014:
Non-Linear Regression Analysis for GOLD combined with Elliott Wave theory is indicating a possible reversal in trend here on H4 time frame. The slope for the regression channel is not pointing to the upward direction yet, but the Elliott wave labeling points out a possible bottom for wave (C). Any breakout above the level of 1255 is BULLISH and higher prices will be seen.
Support/Resistance:
1255 – Wave (iv) Top
1221 – WR3
1213 – WR2
1181 – WR1
1172 – Weekly Pivot
1142 – WS1
1133 – WS2
1130 – Wave (v) Low | Invalidation Line|
Trading Recommendations:
As long as the level of 1130 is not violated BUY orders should be opened.
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GBP/JPY H4 & Daily

Alternate count is in play here that includes an extended wave (3) green and a short ZigZag correction in wave (4) green. The anticipated wave (5) might be just an ordinary five waves progressionand then a more complex correction might be developing in wave 4 black before last wave to the upside will happen.

On H4 time frame , the Key Level for a short cycle wave (iv) is 169.78 – 170.04 support. Any potential breakout below is bearish and violation of 168.84 invalidates the count.

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EUR/USD H1

Alternate count is was the correct one here and now it looks like the impulsive wave progression has been done.

Correction might take the pair as high as 1.3695 level. Shape is currently unknown, but it might be ZigZag.

1.3618 is the Key Level to the downside.

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GBP/USD H1

Five impulsive waves to the upside has been done after more complex and time consuming wave 4 green and it might be first clue that top of a larger cycle is in.

Nice immediate impulsive reaction to the downside after a potential top.

Break below the  Key Level is needed to have a first weak confirmation of the top.

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EUR/USD H1

Impulsive decline on H1 chart is inline with the expectation of a top @ 1.3830 and a more bimpulsive bearish pattern shulod develop if 1.3618 is broken and 1.3624 Volume Support is broken as well of course.

Currently, it is not quite clear if the five waves sequence has been finished or not so the corrective cycle might be in one more push to the downside beforesome larger correction appears.

As long as 1.3830 holds bias is to the downside.

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GBP/USD H4

Previous H1 impulsive count has been invalidated due to wave (i) and wave (iv) overlapse.

Current count indicates a bullish perspective with new highs in view here.

Please notice that wave 4 green is 300%  longer in time that wave 2 green is which is very common relationship that supports the overall view.

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USD/CHF H4

General Overview for 18/12/2013

Five impulsive waves to the downside has been done and NLR model channel slope starts to point upward, so any breakout higher into 0.8950 area will be first bullsish confirmation of a potential larger cycle bottom.

Nevertheless, current price action is a typical range play with bias to the upside.

Support/Resistance:

0.9023  - WR3

0.8983 – WR2

0.8940 – WR1

0.8889 – Weekly Pivot

0.8846 – WS1

0.8830 – Swing Low

0.8794 – WS2

Trading Recommenadtions:

Wait for range breakout before entering the market. Bias is to the upside.

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USD/JPY H1

General Overview for 18/12/2013

Five waves to the downside has been done and now pair is in corrective cycle. The shape of the correction looks like ZigZag wave 2 with the TARGET ZONE @ 103.61. Any breakout higher is bullish and recent swing high might be prone to test.

Support/Resistance:

104.02 – WR1

103.92 – Swing High

103.61 – Target Area For wave 2

103.15 – 103.29 – Demand Breakthrough Zone

103.13 – Weekly Pivot

102.83 – Intraday Support

102.48 – Technical Support

102.13 – 102.28 – Previous Wave Four Zone.

102.13 – WS1

Trading Recommendations:

If Weekly Pivot is broken, go long with SL below 102.79 and TP @ 103.61.

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