Daily Elliott Wave Video Analysis — May 11, 2012

The daily Elliott Wave analysis video for May 11, 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 1.0142 price level. So, as long as price stay below 1.0142 resistance level, look for sell trades. If bullish candlestick closes above 1.0142 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 104.45 price level. So, as long as price stay below 104.45 resistance level, look for sell trades. If bullish candlestick closes above 104.45 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3064 price level. So, as long as price stay below 1.3064 resistance level, look for sell trades. If bullish candlestick closes above 1.3064 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 0.9193 price level. So, as long as price stay above 0.9193 support level, look for buy trades. If bearish candlestick closes below 0.9193 critical support level then up trend is going to end.

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