Daily Elliott Wave Video Analysis — May 18, 2011

The daily Elliott Wave analysis video for May 18, 2011, is available here. The video will always remain accessible via the current link for future reference. 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 watch the video in a fullscreen mode.


AUD/USD
Trend is bearish in 1 hour time frame. Intraday resistance is present at 1.0887 price level. So, as long as price stay below 1.0887 resistance level, look for sell trades. If bullish candlestick closes above 1.0887 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 116.88 price level. So, as long as price stay below 116.88 resistance level, look for sell trades. If bullish candlestick closes above 116.88 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour time frame. Intraday resistance is present at 1.4388 level. So, as long as price stay below 1.4388 resistance level, look for sell trades. Current upside rally looks corrective abc zig zag pattern, expect a choppy price action. If bullish candlestick closes above 1.4388 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour time frame. Intraday resistance is present at 1.6515 price level. Price is also below 200 period ema. So, as long as price stay below 1.6515 resistance level, look for sell trades. If bullish candlestick closes above 1.6515 critical resistance level then down trend is going to end.

USD/CHF
Trend is sideways in 1 hour time frame. Intraday support at 0.8797 level has been broken. So, it is better to stay out untill price go above 0.8944 resistance level or breaks below 0.8705 2nd support level.

Below, you can browse the archives of the previous daily videos:

Monday Tuesday Wednesday Thursday Friday Saturday Sunday
1
2345678
9101112131415
16171819202122
23242526272829
3031

2020:
January.

2019:
January, February, March, April, May, June, July, August, September, October, November, December.

2018:
January, February, March, April, May, June, July, August, September, October, November, December.

2017:
January, February, March, April, May, June, July, August, September, October, November, December.

2016:
January, February, March, April, May, June, July, August, September, October, November, December.

2015:
January, February, March, April, May, June, July, August, September, October, November, December.

2014:
January, February, March, April, May, June, July, August, September, October, November, December.

2013:
January, February, March, April, May, June, July, August, September, October, November, December.

2012:
January, February, March, April, May, June, July, August, September, October, November, December.

2011:
March, April, May, June, July, August, September, October, November, December.

You can discuss these daily Elliott Wave analysis videos on our technical analysis Forex forum.

© 2005–2020

EarnForex.com

Design — Mart Studio

Forex trading bears intrinsic risks of loss. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors.