March 29, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for March 29, 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 time frame. So, expect more upside during London market session towards 1.0315 level. Intraday support is present at 1.0185 . So, as long as price stay above 1.0185 support level, look for buy trades. If bearish candlestick closes below 1.0185 critical support level then up trend is going to end.

"EUR/JPY"
Trend is bullish in 1 hour chart but overall it is a sideways price action. It is better to stay out until price go above 115.97 resistance level or break below 106.47 support level.

"EUR/USD"
Trend is bullish in 1 hour time frame. So, expect more upside towards 1.4212 resistance level. Intraday support is present at 1.4012 level. So, as long as price stay above 1.4012 support level, look for buy trades. If bearish candlestick closes below 1.4012 critical support level then up trend is going to end.

"GBP/USD"
Trend is bearish in 1 hour time frame. It is possible that a pull back is going to occur towards 1.6112 (Fibonacci 0.382%) resistance level. Short term resistance is present at 1.6112 level. So, as long as price stay below 1.6112 resistance level, look for sell trades. If bullish candlestick closes above 1.6112 critical resistance level then down trend is going to end.

"USD/CHF"
Trend is bullish in 1 hour time frame. Price is above the 200 period ema but overall it is a sideways price action. It is better to stay out until price go above 0.9368 resistance level or break below 0.8902 support level.

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