Daily Elliott Wave Video Analysis — June 21, 2011

The daily Elliott Wave analysis video for June 21, 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 sideways in 1 hour time frame. Intraday resistance present at 1.0590 price level has been broken. It is better to stay out untill price go above 1.0634 resistance level or breaks below 1.0477 support level.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 116.68 price level. So, as long as price stay below 116.68 resistance level, look for sell trades. If bullish candlestick closes above 116.68 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 1.4494 price level. Current decline looks like a zig zag, abc corrective wave pattern, expect a possible bottom.

GBP/USD
Trend is bearish in 1 hour time frame. Intraday resistance is present at 1.6469 level. So, as long as price stay below 1.6469 resistance level, look for sell trades. If bullish candlestick closes above 1.6469 critical resistance level then down trend is going to end.

USD/CHF
Trend is bearish in 1 hour time frame. Intraday resistance is present at 0.8561 price level. So, as long as price stay below 0.8561 resistance level, look for sell trades. If bullish candlestick closes above 0.8561 critical resistance level then down trend is going to end.

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