May 18, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for May 18, 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 1.0016 price level. So, as long as price stay below 1.0016 resistance level, look for sell trades. If bullish candlestick closes above 1.0016 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 102.88 price level. So, as long as price stay below 102.88 resistance level, look for sell trades. If bullish candlestick closes above 102.88 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.2758 price level. So, as long as price stay below 1.2758 resistance level, look for sell trades. Bullish divergence is present with MACD, expect a bottom in price. If bullish candlestick closes above 1.2758 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5954 price level. So, as long as price stay below 1.5954 resistance level, look for sell trades. If bullish candlestick closes above 1.5954 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9332 price level. So, as long as price stay above 0.9332 support level, look for buy trades. If bearish candlestick closes below 0.9332 critical support level then up trend is going to end.

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