$DXY US Dollar Index H4, Daily, Weekly and Monthly

General overview for 09/12/2014:

The first small grey chart is a 50 years old monthly candlestick data for US Dollar index where the wave development has been labeled. As we can see, there is unfinished multi-year cycle to the upside, labeled as wave (b) green (decade degree):

Based on that assumption, the weekly charts current labeling is following the grey chart and the first two impulsive waves has been labeled (1 and 2). Then there is wave 1 ( Leading Diagonal) and complex and time consuming wave 2. There is first indication that the wave 5 of wave 1 has been completed and now the market should enter the corrective cycle in wave 2:

Daily chart shows five waves impulsive wave progression from the DEMAND area that might have just hit the target projection of 61%Fibo at the level of 89.30. IF it is so, then the market should enter the corrective cycle now:

On intraday time frame H4, we can see that the market is slowly coming down to test the internal golden trend line and if this line is violated, then the level of 88.19 will be tested soon. Please notice

the Ending Diagonal structure in wave 5 of wave 5 (I,II,III,IV,V) and diminishing momentum resulting in a Bearish Divergence:

Support/Resistance:

89.59 - Swing High

89.30 - 61%Fibo Target

88,74 - Golden Trend Line Support

88.19 - Bullish Zone Support

87.17 - Neutral Zone Support

86.77 - 87.17 - Supply Breakthrough Zone

Trading recommendations:

As long as the high at the level of 89.59 is not violated, the chances are high, that the market has entered/is about to enter a corrective cycle. This might result in near-to-mid term SELL trade opportunity on pairs: USD/JPY, USD/CAD, USD/CHF, USD/PLN, USD/ZAR, USD/TRY. Moreover, ther might be some forex pairs that are in good place to BUY now: EURUSD, GBPUSD, AUDUSD, NZDUSD, 

Overall good opportunity to do some near-to-mid term currency basket trading.

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EUR/USD H1 and Weekly

General overview for 08/12/2014 11:50 CET

This pair keeps making fresh lows and it is quite possible that the level of 1.2167 will be the first target for the week but the pressure to the upside is increasing. Currently it is quite hard to count on the waves as there are many labeling possible including an Ending Diagonal on higher time frames. There are three zones indicated on H1 chart and only a breakout above of any of this zones would be a game changer. Otherwise the long and mid term trends are all BEARISH ( since May 2014  anyway).

PLEASE NOTICE THAT WE ARE ABOUT TO HIT WEEKLY SUPPORT TRENDLINE!!!

Support/Resistance:
1.2167 - WS1
1.2207 - Intraday Resistance
1.2337 - Weekly Pivot
1.2300 - Neutral Zone Level
1.2404 - WR1

Trading recommendations:
As long as the first game changing resistance at the level of 1.2300 is not broken, the bias is BEARISH and SELL orders should be opened ONLY.

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SP500 H4

General overview for 05/12/2014 11:10 CET
There is still one more wave to the upside missing on the lower time frame counts (wave 5) of the overall impulsive cycle labeled as big wave 5. The market looks weak right now and the mushrooming top suggest a corrective cycle in wave 4 is about to kick in. There are two possibilities here:
- main count - wave 4 has been completed and now final stages of the wave 5 are taking place. Might be impulsive, might be Ending Diagonal, but so far LOOKS impulsive. Break below the level of 2047 invalidates the scenario.
- alternate count - wave (a) of a triangle formation wave 4 has been compelled and market is now making zig-zags (5-3-5) inside of a larger corrective structure. Triangle is the anticipated pattern.

Support/Resistance:
2080 - WR2
2075 - Local All Time High
2071 - WR1
2066 - Weekly Pivot
2061 - Wave II Support
2057 - WS1
2051 - WS2
2047 - Key Level
2043 - WS3

Trading recommendations:
It is rather difficult to trade the corrective cycle especially the triangle pattern so it would be better to stay aside. However, if You are eager to trade, it would be better to go with the long term trend and stay on the BUY side.

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CAD/JPY H4, Daily and Weekly

General Overview for 03/12/2014:

This pair is still in uptrend targeting first 107.75 level and then possibly 115.86 level as well (it depends where wave 4 will complete).

On lower time frames the market should start a corrective cycle to the downside in wave C of wave 4, but the alternate count indicates a possibility of a completed wave 4 (alt:4) at the level of 103.45. To invalidate this alternate count, the price must break out below the level of 103.45 first and then impulsively break even lower into 23%Fibo at the level of 102.37 and then it might bounce as three wave simple ABC corrective cycle would be finished. Of course, the market might evolve into more complex pattern next , like a triangle pattern, but for now on there is no sufficient data to support this assumption. Nevertheless any breakout below the level of 99.79 invalidates this bullish outlook.

Summary:

Breakout above 105.30 is bullish and target is at the level of 106.18 and higher (Supply Zone)

Breakout below 103.45 is bearish and target is at the level of 102.37.

Support/Resistance:

106.18 -107.10 - Supply Zone

105.30 - Swing High

103.45 - Intraday Support

102.37 - 23%Fibo

101.17 - Weekly Technical Support

99.80 - Invalidation Line

Trading Recommendations:

Swing traders should keep the buy orders open as the wave progression has not been completed yet.

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EUR/USD H1

General Overview for 03/12/2014:

Just a chart update: is this it? Classic triangle pattern in wave 4 seems to fit to the overall count rather well. If so, the target is at the level of 1.2280. Please notice the bullish divergence.

Support/Resistance:
1.2281 - WS2
1.2363 - WS1
1.2448 - Weekly Pivot
1.2530 - WR1
1.2564 - Supply Zone

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Gold XAUUSD H4

General Overview for 02/12/2014:

The current wave progression from the level of 1130 might be labeled as the beginning of impulsive structure. The most important level now is 1255 as the former top of the wave (iv). Only breakout above this level in impulsive fashion will be seen as bullish.
Violation of the level of 1130 invalidates the impulsive count.

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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Crude Oil Futures Weekly

General overview for 28/11/2014

The impulsive wave progression to the downside triggered by the lack of a decision on OPEC meeting is still in progress as the wave 3 is getting extended to the downside. Please notice that from a bigger point of view on this Weekly chart, there is missing wave 5 to the downside to complete the Irregular Flat corrective cycle in big wave X. The One-to-One market geometry, marked in red rectangle on chart, and the demand zone between levels of 67.06 - 69.32 are working as a line of last resort for bulls. The extension levels for wave 3 might bring some support as well but if the level of 60.44 is broken, the chances for market to test the last long term swing bottom at the level of 33.23 will dramatically INCREASE!.

Support/Resistance:
33.23 - Long Term Swing Low
60.44-62.25 - 223%Extension
64.66 - 66.06 - 200%Extension
67.06 - 69.32 - 161%Extension

Trading recommendations:
No real need to buy the crude oil right now for a longer time frame than daily. Bias is still bearish as there are incomplete waves to the downside.

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DAX30 H4

General overview for 26/11/2014 12:50 CET

On lower time frames traders can see, that the impulsive wave progression is unfolding to the upside and first targets has been projected at the levels of 10023 and 10175.

Support/Resistance
10175- Wave v Target Level
10084 - WR2
10023 - Wave iii Target Level
10014 - WR1
9567 - Weekly Pivot

Trading recommendations:
The bias is bullish until the minimum target is hit.

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Nikkei 225 Futures H4

General overview for 24/11/2014 18:00 CET

The Weekly chart of the Elliott Wave development indicates unfinished impulsive wave progression to the upside inside of wave (C) black.
Internal sub-divisions of wave 3 green has been posted on H4 time frame chart, where traders can see two possible counts: main and alternate one. The main count indicates more upside wave progression that will be quite bullish and extended but first the corrective cycle in wave (iv) green must be completed. Alternate count indicates a Leading Diagonal wave 1 blue, and then wave 2 and 3 blue with currently  anticipated corrective internal cycle in the shape of a triangle. For both of this count the key level is the triangle support at the level of 16678.

Support/Resistance:
17978 - WR2
17747 - WR1
17307 - Weekly Pivot
17076 - WS1
16678 - Key Level
16637 - WS2

Trading recommendations:
One more wave to the downside is expected to complete the corrective cycle in wave (iv) green so short orders should be in play, however please notice that it is still possible that the corrective cycle has been completed already and now the index is developing another upward leg. ANY IMPULSIVE WAVE ON LOWER TIME FRAMES INVALIDATES THIS COUNT!

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EUR/USD H1

General Overview for 20/11/2014: 11:30 CET

The wave development is still in a corrective cycle and there is really no need to trade this pair right now as the cycle appears to be rather complex and time consuming cycle. The suggested wave progression inside of the blue channel is clearly corrective and the golden trending is still providing a resistance. The question remaining whether the gap zone will be filled or not in the near future but the wave count clearly indicates the possibility of a farther upward wave progression up to the 1.2834 - 12936 zone. The current bias is:
SHORT-TERM   Neutral to Slightly Bullish (corrective)
MID-TERM        Neutral to Slightly Bullish (To complete the corrective cycle)
LONG-TERM     Bearish (new lows)

Support/Resistance:
1.2652 - 1.2692 - GAP ZONE
1.2645 - WR2
1.2600 - Local Swing High
1.2594 - WR1
1.2548 - Intraday Resistance
1.2489 - Weekly Pivot
1.2443 - WS1
1.2358 - Local Swing Low

Trading Recommendations:
Stay away until corrective cycle i completed, confirmed and downtrend resume,

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Gold Weekly

General overview for 17/10/2014 13:30 CET

It is always a difficult task to correctly count the wave development inside of the triangle but this is as good as it gets: one more wave (v) green to the downside is needed to complete the whole impulsive structure in wave  Y black of the big degree wave 4 blue. As long as the level of 1006 is not broken, a multi year high is still possible to be made on Gold.


Support/Resistance:
1179 - 1183 - Key Support
1198 - WS1
1216 - Weekly Pivot
1248 - WR1
1266 - WR2
1273 - 1280 - Demand Breakthrough Zone

Trading recommendations:
Short positions should be opened from the level of 1266 with SL above the level of 1281 and TP at the level of 1100 min.

EUR/USD H1

General overview for 09/10/2014 11:30 CET

There are some first indications that the main degree  impulsive wave might have been completed ( wave 1 pink) and the market is in corrective cycle in wave 2 pink or it is only a first internal sub-cycle of this wave. Nevertheless, the current situation looks like an upside push to the supply zone and a possible failure is expected here. The abc green correction looks completed as well in a shape of a Zig-Zag pattern, which is VERY POPULAR in wave two overall. Now the market must return to the golden channel and after testing the upper boundary, it must impulsively breakout to the downside, below the intraday support at the level of 1.2698 ( and even lower).
Please notice that any breakout higher above the level of 1.2814 is bullish and next resistance is at the level of 1.3000.

Support/Resistance:

1.2999 - 1.2970 - Demand Breakthrough Zone
1.2900 - Previous Wave 4 Level
1.2832 - WR3
1.2814 - Technical Resistance|Key Level|
1.278 - 1.2814 - Supply Zone
1.2777 - WR2
1.2698 - Intraday Support
1.2620 - WR1
1.2584 - Key Level To The Downside
1.2560 - Weekly Pivot

Trading recommendations:

Long and mid-term trend is BEARISH and only SELL orders should be opened on this pair. First one to try is to short at the current price levels with SL above 1.2814 and TP open for now, but targeting NEW SWING LOW.

Dax Futures Daily

General Overview for 24/09/2014:
On Daily time frame we can see the price has made a very deep retracement to 88.6%Fibo  in shape of a Triple Zig-Zag pattern wave (ii). We can see as well the Key Support and Resistance levels: only a valid breakout below one of this levels would indicate that our anticipations are confirmed: breakout below support at the level of 8899 means long term top is confirmed, and breakout above the resistance at the level of 10056 means the alternate count is in play and uptrend will continue. Trend change confirmation comes with the level of 8899 breakout.



Support/Resistance:
10056 - Key Resistance
9898 - 88%Fibo
9530 - Support
9367 - Support
9037 - Support
8899 - Key Support

Trading recommendaions:
There is still some degree of uncertainty regarding the corrective cycle completion, but any sell orders should have the SL above the level of 9898. Trend change confirmation comes with the level of 8899 breakout.

GBP/USD M15

General Overview for 20/09/2014:
Short-term (h4 and h1):
The corrective cycle in wave 4 has hit 38%Fibo of the last swing and sharply reversed. The corrective cycle was a pattern of abc irregular flat, where wave c=161% of wave a. Now the impulsive decline is almost done and after the corrective cycle in wave ii this pair might continue the downtrend. Please notice this pair might be making a Head&Shoulders formation as well and that supports the view for more decline coming.

EUR/USD H1

General Overview for 18/09/2014:
The impulsive wave progression is developing as anticipated some time ago. Currently it looks like after the extended fifth wave of a wave 3 green, it is a time for a corrective bounce in wave 4 green. The target levels for this correction are at the levels of 1.2972 - 12994 ( basically 1.3000 round number level) and if this one is broken and corrective cycle will become more complex - 1.3111.

Support/Resistance:
1.2819 - WS2
1.2833 - Swing Low
1.2906 - WS1
1.2944 - Weekly Pivot
1.2972 - 1.2994 - Demand Breakthrough Zone

Trading recommendations:
Please wait for the corrective cycle to complete and enter SELL orders in the direction of the trend of the larger degree.

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Gold Weekly

Just saying....

AUD/USD H4

General overview for 10/09/2014:
Currently market is in a complex WXY corrective cycle that has not been finished yet as there are some downward sub-waves missing. Please notice that the price is below 100 and 200 WMA that confluence with wave 1 top and only a breakout higher is bullish.
H4 chart looks like unfinished double Zig-Zag structure inside of wave Y of more complex and time consuming corrective wave 2. 
Key short term level for bulls and if broken - first clue of bullishness increasing. The targets for wave 2 bottom are either on 50%Fibo, or, more possibly, on 61%Fibo. From this two levels the failure and rebound should be expected.
ANY BREAKOUT BELOW THE LEVEL OF 0.8547 INVALIDATES BULLISH IMPULSIVE COUNT!!!

Support/Resistance:
0.8981 - 61%Fibo
0.9081 - 50%Fibo
0.9111 - Swing Low
0.9151 - WS3
0.9210 - WS2

Trading recommendations:
Not really a good place to either enter short or long positions as R/R ratio is not attractive at the moment. Refrain from trading until more clear structure will occur.