Notice the movement since the EUR decline and the DOW rise.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13058&stc=1&d=1207310545
This is the view from the daily charts as of now that many are now taking. A triangle for a wave 4 that will ultimately result in new highs above 1.60. Whether wave C has finished or not is still up for discussion. If it is we should see another test of the upper resistance level near 1.59. If it is still developing we should see a low near 1.54. Then another up leg to the upper band in wave D.
If we break the 1.53 low before the triangle is complete we could have a flat correction in wave 4 (also something that has been proposed by others including Jamie).
It is also possible that we have completed the whole rally phase and are now embarking on a wave 3 to much lower levels as your chart indicates. I guess the jury is still out.
We should know fairly soon which way the wind is blowing. :-)Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13118&stc=1&thumb=1&d=1207537090
EUR/USD has one more move down to the low 5600s in wave e before it rallies to a new high. Here's a chart from a couple days ago.
American-T
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13200&stc=1&thumb=1&d=1207749665
Rode it nicely from 1,5780, cashed 1/3 out stops at 1,5845.
Since Stryker is missing here is charting tehnique simmilar to his:
There is a bit more room to the upside 1,5940-50, but we are in no mans land...
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13231&stc=1&thumb=1&d=1207826721
I posted these two charts in the EW forum. Just my view on the possibilities of the current short term trend. The first chart shows the correction is not over. The 1.5915 high is just a wave B momentum extreme. There will be larger drop before it spikes to new high again. The second chart shows we are already in wave 5, slow and painful diagonal process. Actually, the entire rally is exactly like what is stated in EW, "too extended, too long."
Anyway, the long term trend is still up. How the short term twists and turns play out, only time will tell.
http://www.geocities.com/zhliew/trading/euro/euro4hr0410_1.jpg
http://www.geocities.com/zhliew/trading/euro/euro4hr0410_2.jpg
Thanks for the chart!
American-TAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13302&stc=1&thumb=1&d=1207940619
If resistance at 1,5885 gets broken (i think it will get), than 1,5970 is next. You can see that on attached chart. You can also notice positive divergence on sohastic, which can push pair to mentioned level.
GL allAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13370&stc=1&thumb=1&d=1208177887
I attached the USD/CHF chart as it shows the clearest picture of the dollar as a whole. As you can see, it's immediately bearish with a thrust from a triangle underway.
American-TAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13492&stc=1&thumb=1&d=1208393216
for what it is worth, charts on swissy.........
it shows congested region as i posted on yen... small scalps on.....
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13557&stc=1&thumb=1&d=1208452918
Well after getting "owned" by the dollar last week I had to re-configure my wave count. The only alternate I had that makes sense now is the one I posted below. The rally in the USD/CHF and USD/JPY is clearly corrective, and the longer term wave count show their lows complete only a wave 3. So the fact that they've only completed three waves down, and their rally off their lows is corrective, a new low must be acheived. The questions isn't if? It's when? And how much pain do I have to take until it does?
Well here's my best shot. Once again, the USD/CHF offers the clearest picture for the dollar as a whole (8hr chart below).
American-T
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13699&stc=1&thumb=1&d=1208709293
Hi everybody, If you see the chart on 60 min. maybe there are a five waves down, and the five wave is under way now, please see the chart a tell me what you think about it.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=13730&stc=1&d=1208758858
Hi,
I just discovered this section of the forum, and i am really excited to have a place where to discuss elliott wave principles. I am fairly new to it, still in the process of learning.
I have attached a chart of the USD index. I think that the counting on the upwave 1,2,3,4,5 makes sense, but i am having a hard time with the wave count on the correction. Any help would be appreciated.
(sorry the chart looks a little big)
Thanks.
Serge
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6606&stc=1&d=1179444816
Serge, you are correct that the rally from the late 2004 bottom is a 5 wave impulse. The decline that has followed looks like a double zigzag (two zigzags connected by an X wave). The entire decline is labeled W-X-Y.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6611&stc=1&d=1179501782
AUDNZD
Here is a trade setup on AUDNZD pair...
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6614&stc=1&d=1179619804
EURUSD
It looks to be headed lower..
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6616&stc=1&d=1179620715
AUDUSD
Not all is lost for Aussie....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6617&stc=1&d=1179621547
USDSEK
It looks like making a double zigzag
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6618&stc=1&d=1179621777
AUDUSD
Setting up for a brief rally...
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6626&stc=1&d=1179762481 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6627&stc=1&d=1179762492
EURGBP Shaping up from a sharp move down ...
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6629&stc=1&d=1179767675
AUDNZD
Setting up for upmove...
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=6630&stc=1&d=1179768915