April 6, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for April 6, 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 1.0337 price level. So, as long as price stay below 1.0337 resistance level, look for sell trades. If bullish candlestick closes above 1.0337 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 108.62 price level. So, as long as price stay below 108.62 resistance level, look for sell trades. If bullish candlestick closes above 108.62 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3163 price level. So, as long as price stay below 1.3163 resistance level, look for sell trades. If bullish candlestick closes above 1.3163 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5906 price level. So, as long as price stay below 1.5906 resistance level, look for sell trades. Bullish divergence is present with MACD, expect a short term bottom. If bullish candlestick closes above 1.5906 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9002 price level. So, as long as price stay above 0.9002 support level, look for buy trades. If bearish candlestick closes below 0.9002 critical support level then up trend is going to end.

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