May 8, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for May 8, 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 1.0277 price level. So, as long as price stay below 1.0277 resistance level, look for sell trades. If bullish candlestick closes above 1.0277 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 106.11 price level. So, as long as price stay below 106.11 resistance level, look for sell trades. If bullish candlestick closes above 106.11 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3177 price level. So, as long as price stay below 1.3177 resistance level, look for sell trades. If bullish candlestick closes above 1.3177 critical resistance level then down trend is going to end.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.5984 price level. So, as long as price stay above 1.5984 support level, look for buy trades. If bearish candlestick closes below 1.5984 critical support level then up trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9113 price level. So, as long as price stay above 0.9113 support level, look for buy trades. If bearish candlestick closes below 0.9113 critical support level then up trend is going to end.

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