Elliott wave and technical analysis on EUR/USD; USD/CAD; AUD/USD; NZD/USD; VIX-Index and DJI

EUR/USD - We are locked at important resistance at 135.00, but if we break above here the upside will be open for a continuation higher towards 136.50 and maybe even 138.70.
The price action the last couple of days has not been very favorable to my view of a possible top building here. As long as resistance at 135.00 holds firm I will look very closely for a break below 133.60, which should offer a test of important support at 131.80, but we need a break below here to turn things around since the test of 134.85 has in no way been constructive in regards to a possible top being formed.

USD/CAD - Yesterday it seemed like important resistance at 100.60 was going to come under fire and today that seems like a very remote possibility. The powerful rejection near 100.60 has forced me to change my count, which now says that the 100.49 only marked the top of wave 4 and we are now in wave 5 down. We have a cluster of supports in the 97.05 - 97.45 area, which should mark the possible bottom of wave 5.

AUD/USD - The possible S/H/S top was blown away yesterday too, and we are now testing important resistance at 107.90. A break above 107.90 will open up for a continuation higher towards 110.80 again. We could even seen a slight overshoot here, but resistance at or near 110.80 is very strong.

If however resistance here at 107.90 holds for a break below support at 105.90 we should see a continuation deeper towards 103.80.

NZD/USD - The possible Diamond top formation a described yesterday was invalidated upon the break above 84.00 and we should now see a continuation higher towards 85.71 soon. A break above 84.25 confirms the 85.71 target.

Only an unexpected break back below 82.60 will ease the upside pressure and turn us down towards 80.55 and possibly even 79.50.

VIX Index - Failed to break above the mid-band yesterday, which keeps a slight pressure towards the downside, but we could see a reversal at any time and a break above 19.25 should turn focus towards the neckline near 21.30. A break above 21.30 will spark the volatility much higher towards 28.30.

Dow Jones Industrial - The best fit seems to be that an ending diagonal is forming. We should be pretty close to the top, but as long as the support-line from December last year isn't broken we could see new higher highs.

A break below the support-line at 12,900 will ease the upside pressure and call for a decline towards important support at 12,743 and possibly even 12,543.