Today's Support and Resistance Levels:
R3: 133.87
R2: 133.62
R1: 133.37
Current Spot: 133.18
S1: 132.87
S2: 132.57
S3: 132.22
Technical Summary:
With the break above important short term resistance we finally got the confirmation, that red wave iii is developing towards at least 135.13 and more likely even higher towards 137.28. For the short term it would be ideal if support at 132.87 protected the downside for the break above 133.87, but only a break below support at 132.57 will confuse the overall bullish count and call for a move back down to 131.63, but this is a low probability scenario and as long as support at 132.87 is protecting the downside we should stay focused on the upside.
Today's Support and Resistance Levels:
R3: 1.6263
R2: 1.6187
R1: 1.6139
Current Spot: 1.6119
S1: 1.6077
S2: 1.6026
S3: 1.5966
Technical Summary:
Trying to pinpoint the bottom for this wave C has been a real pain. We hit the cluster of supports at 1.6119, but we also saw a break below this support, with 1.6077 being the low for now. Looking at the EWO-indicator we have a massive divergence telling us, that momentum for this decline is weakening almost by the minute and still, this decline continues. By breaking below the ideal target at 1.6119 we now have a window open for a continuation even lower towards 1.5873. That said, I find it most unlikely that we will see a decline that low and regard this as a short term spike below the ideal 1.6119 target. However, to confirm that wave C is over we need a break above 1.6263 and more importantly a break above 1.6348 to confirm that wave C is over and a new rally higher towards 1.7274 and higher has begun.
Hi ews,
ReplyDeleteYour 25 aug posts for audusd look invalidated after today break to 0.9350.do u think this correction could up to 0.98?.Feel free can update audusd and audjpy? Thanks
Good morning EWS
ReplyDeleteIf you have time, please create a new update for gold. After yesterday's price jump, it interests me how you see the next development. Thank you very much
best regards
Good Morning EWS:
ReplyDeleteI do not understand you R2 today, it is not a Fibo level and it is not a previous resistance level...What is it?
Hi EWS i agree eurnzd very oversold on daily once above 1.6145 200 ma daily and holding should see turn around also on weekly we have 100 ma 1.6103 and 50 ma 1.6042 and fibo ex from ii top iii bottom iv top 70.7 1.6048 78.6 1.5990 and 88.6 1.5917
ReplyDeletenzdusd approching 78.6 0.8463 and weekly trendline 0.8495 from 5 wave down pattern should only be a matter of time before wave c is over keep up the great work
Best Regards jt
Hi Juan,
ReplyDeleteI have made a new post, with the updated charts of AUD/USD and AUD/JPY.
I will update the text later.
Kind regards
EWS
Hi Paulina,
ReplyDeleteI will update the Gold chart in a new post later today.
Kind regards
EWS
Hi EWS, I appreciate your view on eurnzd. I'm more "fundamental" than technician, that's why I read your calls every day, EW analysis is pure technical,so I'm still learning. May I ask you to make an overview to FTSE100? I'm long term bullish here, but mostly based on FA and any help from EW analysis would be very helpful.
ReplyDeletethnx