April 6, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for April 6, 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 sideways in 1 hour time frame. Price broke below 1.0312 support level. Overall it is a sideways price action. It is better to stay out until price break below 1.0286 support level.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 119.19. So, as long as price stay above 119.19 support level, look for buy trades. If bearish candlestick closes below 119.19 critical support level then up trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.4150. Price is above the 200 period ema. So, as long as price stay above 1.4150 support level, look for buy trades. There are signs of completed 5 waves ending diagonal tri-angle pattern. 5th wave has been completed or it is going to complete in next coming hours. If bearish candlestick closes below 1.4150 critical support level then up trend is going to end.

GBP/USD
Trend is bullish in 1 hour time frame. Currently, price is above the 200 period ema. Intraday support is present at 1.6090 price level. So, as long as price stay above 1.6090 support level, look for buy trades. If bearish candlestick closes below 1.6090 critical support level then up 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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