April 14, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for April 14, 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. Intraday support is present at 1.0287 price level. So, as long as price stay above 1.0287 support level, look for buy trades. However; bearish divergence is present with MACD and AUD/USD currency pair may break below 1.0287 support level. There are signs of completed 5 waves impulsive pattern. Now, if bearish candlestick closes below 1.0287 critical support level then up trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 120.14. So, as long as price stay above 120.14 support level, look for buy trades. If bearish candlestick closes below 120.14 critical support level then up trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.4375. Price is above the 200 period ema. So, as long as price stay above 1.4375 support level, look for buy trades. If bearish candlestick closes below 1.4375 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 1.6224 price level. So, as long as price stay above 1.6224 support level, look for buy trades. If bearish candlestick closes below 1.6224 critical support level then up trend is going to end.

USD/CHF
Trend is bearish in 1 hour time frame. 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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