October 26, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for October 26, 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 chart. Intraday support is present at 1.0100 price level. So, as long as price stay above 1.0100 support level, look for buy trades. If bearish candlestick closes below 1.0100 critical support level then up trend is going to end.

EUR/JPY
Trend is sideways in 1 hour chart. Intraday resistance is present at 106.52 price level and intraday support is present at 104.76 price level. So, it is better to stay out untill price go above 106.52 resistance or breaks below 104.76 support level.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.3821 price level. So, as long as price stay above 1.3821 support level, look for buy trades. If bearish candlestick closes below 1.3821 critical support level then up trend is going to end.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.5898 price level. So, as long as price stay above 1.5898 support level, look for buy trades. However; bearish divergence is present with RSI, expect a possible top. If bearish candlestick closes below 1.5898 critical support level then up trend is going to end.

USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.8877 price level. So, as long as price stay below 0.8877 resistance level, look for sell trades. If bullish candlestick closes above 0.8877 critical resistance level then down trend is going to end.

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