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July 11, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for July 11, 2011, is available here. The video will always remain accessible via the current link for a future relevance. You can use it to check the accuracy of our Elliott Wave forecasts or for your self-education in such analysis.

It is recommended to view the videos in a full screen mode.


AUD/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.0636 price level. So, as long as price stay above 1.0636 support level, look for buy trades. If bearish candlestick closes below 1.0636 critical support level then up trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 116.79 price level. So, as long as price stay below 116.79 resistance level, look for sell trades. If bullish candlestick closes above 116.79 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.4373 price level. So, as long as price stay below 1.4373 resistance level, look for sell trades. Bullish divergence is present with MACD, expect a possible bottom. If bullish candlestick closes above 1.4373 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.6126 price level. So, as long as price stay below 1.6126 resistance level, look for sell trades. If bullish candlestick closes above 1.6126 critical resistance level then down trend is going to end.

USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.8521 price level. So, as long as price stay below 0.8521 resistance level, look for sell trades. There is a possible running tri-angle pattern present in 1 hour chart, expect more decline. If bullish candlestick closes above 0.8521 critical resistance level then down trend is going to end.

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