$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.

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

Details here:

http://couk-forex.blogspot.com/p/vip-service.html

★★★★★★★★★★★★★★★★★★★★★

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.

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

Details here:

http://couk-forex.blogspot.com/p/vip-service.html

★★★★★★★★★★★★★★★★★★★★★

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.

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

Details here:

http://couk-forex.blogspot.com/p/vip-service.html

★★★★★★★★★★★★★★★★★★★★★

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.

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

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

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

Details here:

http://couk-forex.blogspot.com/p/vip-service.html

★★★★★★★★★★★★★★★★★★★★★

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.

★★★★★★★★★★★★★★★★★★★★★

IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 

SIGNALS 

AND

EDUCATIONAL MATERIALS, 

THEN JOIN MY VIP SERVICE!

Details here:
http://couk-forex.blogspot.com/p/vip-service.html

★★★★★★★★★★★★★★★★★★★★★