May 31, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for May 31, 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 1.0567 price level. Price is also above 200 period ema. So, as long as price stay above 1.0567 support level, look for buy trades. If bearish candlestick closes below 1.0567 critical support level then up trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 113.85 level. So, as long as price stay above 113.85 support level, look for buy trades. If bearish candlestick closes below 113.85 critical support level then up trend is going to end.

EUR/USD
Trend is bullish in 1 hour time frame. Intraday support is present at 1.4256 level. So, as long as price stay above 1.4256 support level, look for buy trades. If bearish candlestick closes below 1.4256 critical support level then up trend is going to end.

GBP/USD
Trend is bullish in 1 hour time frame. Intraday support is present at 1.6273 price level. So, as long as price stay above 1.6273 support level, look for buy trades. If bearish candlestick closes below 1.6273 critical support level then up trend is going to end.

USD/CHF
Trend is bearish in 1 hour time frame. Intraday resistance is present at 0.8892 price level. So, as long as price stay below 0.8892 resistance level, look for sell trades. If bullish candlestick closes above 0.8892 critical resistance level then down trend is going to end.

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