September 16, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for September 16, 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 bearish in 1 hour chart. Intraday resistance is present at 1.0380 price level. So, as long as price stay below 1.0380 resistance level, look for sell trades. However; bullish divergence is present with MACD, expect a possible bottom. If bullish candlestick closes above 1.0380 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 106.97 price level. So, as long as price stay below 106.97 resistance level, look for sell trades. If bullish candlestick closes above 106.97 critical resistance level then down trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.3555 price level. So, as long as price stay above 1.3555 support level, look for buy trades. If bearish candlestick closes below 1.3555 critical support level then up trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.6081 price level. So, as long as price stay below 1.6081 resistance level, look for sell trades. If bullish candlestick closes above 1.6081 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.8533 price level. So, as long as price stay above 0.8533 support level, look for buy trades. However; bearish divergence is present with RSI, expect a possible top. If bearish candlestick closes below 0.8533 critical support level then up trend is going to end.

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