Daily Elliott Wave Video Analysis — February 20, 2012

The daily Elliott Wave analysis video for February 20, 2012, is available here. The video will always remain accessible via the current link for future reference. 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 watch the video in a fullscreen 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 101.90 price level. So, as long as price stay above 101.90 support level, look for buy trades. If bearish candlestick closes below 101.90 critical support level then up trend is going to end.

EUR/USD
Trend is sideways in 1 hour chart. Intraday resistance at 1.3190 price level has been broken. So, it is better to stay out until price go above 1.3283 resistance level or breaks below 1.3112 support level.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.5798 price level. So, as long as price stay above 1.5798 support level, look for buy trades. If bearish candlestick closes below 1.5798 critical support level then up trend is going to end.

USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.9205 price level. So, as long as price stay below 0.9205 resistance level, look for sell trades. If bullish candlestick closes above 0.9205 critical resistance level then down trend is going to end.

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