Tuesday, 10 April 2012

EUR/USD completes upwards correction, now watch that neckline

Zooming in to the hourly chart for this month, we see the EUR/USD has today completed an upwards Elliott Wave correction A-B-C.


The above count implies an impending move to below last week's lows ie. to below the Head and Shoulders neckline illustrated below.

AUD/USD completes upwards correction

Zooming in to the hourly chart for this month, we see the AUD/USD has today completed an upwards Elliott Wave correction A-B-C


The above wave count means that the ending diagonal discussed in recent posts is not complete, or is morphing in to something else. In either case, it implies an impending move to below last week's low ie. below the apex level of the triangle illustrated below.