Elliott wave analysis of EUR/USD: EUR/JPY; EUR/NZD; and the Dow

 EUR/USD - Having review the decline from 1.3172 it looks like a wedge has developed and we should be very close to the end of it. The big question is of cause if this was only wave a of a more complex correction in blue wave 4? For now it really doesn't matter, because we should soon see a rally higher and a break above 1.2913 will be the first indication that we have seen a bottom for a rally higher towards 1.2970 and a break above here will confirm that a bottom is in place for a move back towards the 1.3172 high.

 EUR/JPY - The picture is pretty much the same here. A bottom is most likely just at hand and a new rally higher towards the 103.85 should be seen soon. As first indication of a bottom a break above 100.46 will be need, while a break above 101.05will confirm the bottom for the rally back towards the top at 103.85. I still think this wave 4 correction needs more time to finish, but price-wise we most likely have reached the limit.

 EUR/NZD - The move higher from 1.5569 is in no way convincing and a break above resistance at 1.5773 is need to ease the downside pressure. That said I do think that the bottom at 1.5569 should be safe for now and a rally above 1.5773 should be seen soon for a move higher towards 1.5902 and much higher longer term.

Dow Jones Industrial Index - Do we finally have a top in place? It could well be, but then central bankers QE 3 (FED) and QE1 (ECB) and QE (what do I know) is do their most to keep the rally going. Will they win? I hope not, because if they do the will destroy their currencies. So please let the Markets do their thing and correct the imbalances that FED has created during the last 25 years.
S at which point do we know a deeper correction is coming? we need a break below 13,251 to give a good indication that a top might be in place, but only a break below 12,977 confirms a decline towards important support at 12,035.
The risk to the upside seems limited to 13,935 (I don't think we will reach this high, but as long as we haven't seen a break below 13,251 it can't be excluded.