February 28, 2012 — Daily Elliott Wave Video Analysis
The daily Elliott Wave analysis video for February 28, 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 1.0649 price level. So, as long as price stay above 1.0649 support level, look for buy trades. If bearish candlestick closes below 1.0649 critical support level then up trend is going to end.
EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 105.09 price level. So, as long as price stay above 105.09 support level, look for buy trades. RSI has turned overbought, expect a possible top and a drop in price. If bearish candlestick closes below 105.09 critical support level then up trend is going to end.
EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.3268 price level. So, as long as price stay above 1.3268 support level, look for buy trades. RSI has turned overbought, expect a possible top and a drop in price. If bearish candlestick closes below 1.3268 critical support level then up trend is going to end.
GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5897 price level. So, as long as price stay below 1.5897 resistance level, look for sell trades. If bullish candlestick closes above 1.5897 critical resistance level then down trend is going to end.
USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.9026 price level. So, as long as price stay below 0.9026 resistance level, look for sell trades. RSI has turned oversold, expect a possible bottom in price. If bullish candlestick closes above 0.9026 critical resistance level then down trend is going to end.
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