#corrective pattern

How To Trade Aftermath Of Elliott Wave Flat Correction

FX Analysis – August 28, 2014

GBP/JPY Rebound from 170.42 would extend to 174.21 resistance first. On the downside, though, below 171.60 minor support will turn bias back to the downside for 170.42 low instead.

EUR/GBP Above 0.8035 will extend the rebound from 0.7873 short term bottom to 0.8157 key support turned resistance first. Sustained break of 0.8157 will confirm this bullish case. On the downside, below 0.7920 will…

FX Analysis – August 27, 2014

USD/CAD Further rise is still expected in the pair for 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Sustained break will pave the way for retesting 1.1278 resistance. However, break of 1.0859 will indicate short term topping and will turn bias back to the downside for 1.0793 support first.

USD/CHF Decisive break there will extend the larger rally to 161.8% projection at 0.9395 next. On the…

FX Analysis – August 26, 2014

EUR/USD Current decline from 1.3993 medium term would extend to 161.8% projection of 1.3993 to 1.3502 from 1.3700 at 1.2906 next. On the upside, break of 1.3332 is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

USD/JPY Below 103.49 will turn bias back to the downside for 103.08 support and below. Above 104.27 will target 105.41 high next.

GBP/US…

FX Analysis – August 22, 2014

EUR/USD Break of 1.3209 will target 161.8% projection at 1.2906. On the upside, break of 1.3332 is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

USD/JPY Below 1023.08 minor support will turn bias back to the downside. However, break of 104.12 will pave the way for retesting 105.41 high.

GBP/USD Current development confirms medium medium term…

FX Analysis – August 21, 2014

GBP/JPY Current development suggests medium term topping at 175.36 and sustained break of 169.53 will confirm this bearish case. Nonetheless, break of 172.57 resistance will indicate near term bottoming and turn bias back to the upside.

USD/CAD The breach of 1.0985 suggests that rally from 1.0620 is resuming. Intraday bias is back on the upside for 61.8% retracement of 1.1278 to 1.0620 at 1.1027…

FX Analysis – August 20, 2014

USD/CAD Strong support is expected around 38.2% retracement of 1.0708 to 1.0985 at 1.0879 to contain downside. Larger rally is expected to resume later and above 1.0985 will target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Though, another decline will turn focus back to 1.0793 resistance turned support.

AUD/USD Break of 0.9374 resistance will argue that the pair has bottomed out in near…

EUR/USD Below 1.3332 will target 100% projection of 1.3993 to 1.3502 from 1.3700 at 1.3209. But in that case, strong support should be seen there to bring rebound. . Meanwhile, above 1.3444 will confirm short term bottoming and turn bias back to the upside for 1.3502 support turned resistance.

USD/JPY Break will target a test on 100.61/82 key support zone. On the upside, above 103.08 will target…