February 10, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for February 10, 2012, 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 1.0670 price level. So, as long as price stay above 1.0670 support level, look for buy trades. Price is creating a possible ending diagonal triangle pattern, expect a top and a drop. If bearish candlestick closes below 1.0670 critical support level then up trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 101.63 price level. So, as long as price stay above 101.63 support level, look for buy trades. If bearish candlestick closes below 101.63 critical support level then up trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.3213 price level. Price has completed bullish tri-angle pattern. So, as long as price stay above 1.3213 support level, look for buy trades. If bearish candlestick closes below 1.3213 critical support level then up trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5884 price level. So, as long as price stay below 1.5884 resistance level, look for sell trades. If bullish candlestick closes above 1.5884 critical resistance level then down trend is going to end.

USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.9261 price level. So, as long as price stay below 0.9261 resistance level, look for sell trades. Bullish divergence is present with RSI, expect a possible bottom in price. If bullish candlestick closes above 0.9261 critical resistance level then down trend is going to end.

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