February 16, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for February 16, 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 bearish in 1 hour chart. Intraday resistance is present at 1.0843 price level. Price has created a possible impulsive leading wave A. So, as long as price stay below 1.0843 resistance level, look for sell trades. If bullish candlestick closes above 1.0843 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 101.80 price level. So, as long as price stay above 101.80 support level, look for buy trades. If bearish candlestick closes below 101.80 critical support level then up trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3190 price level. So, as long as price stay below 1.3190 resistance level, look for sell trades. If bullish candlestick closes above 1.3190 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5769 price level. So, as long as price stay below 1.5769 resistance level, look for sell trades. If bullish candlestick closes above 1.5769 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9213 price level. Price is creating a possible triple zig zag corrective wave pattern. So, as long as price stay above 0.9213 support level, look for buy trades. If bearish candlestick closes below 0.9213 critical support level then up trend is going to end.

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