November 8, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for November 8, 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 1.0751 price level. So, as long as price stay below 1.0751 resistance level, look for sell trades. If bullish candlestick closes above 1.0751 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 104.73 price level. So, as long as price stay above 104.73 support level, look for buy trades. If bearish candlestick closes below 104.73 critical support level then up trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3871 price level. So, as long as price stay below 1.3871 resistance level, look for sell trades. If bullish candlestick closes above 1.3871 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.6091 price level. So, as long as price stay below 1.6091 resistance level, look for sell trades. If bullish candlestick closes above 1.6091 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.8944 price level. So, as long as price stay above 0.8944 support level, look for buy trades. However; bearish divergence is present with RSI, expect a possible top. If bearish candlestick closes below 0.8944 critical support level then up trend is going to end.

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