Daily Elliott Wave Video Analysis — July 16, 2012

The daily Elliott Wave analysis video for July 16, 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 1.0258 price level. So, as long as price stay below 1.0258 resistance level, look for sell trades. If bullish candlestick closes above 1.0258 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 97.80 price level. So, as long as price stay below 97.80 resistance level, look for sell trades. If bullish candlestick closes above 97.80 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.2294 price level. So, as long as price stay below 1.2294 resistance level, look for sell trades. If bullish candlestick closes above 1.2294 critical resistance level then down trend is going to end.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.5412 price level. So, as long as price stay above 1.5412 support level, look for buy trades. If bearish candlestick closes below 1.5412 critical support level then up trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9736 price level. So, as long as price stay above 0.9736 support level, look for buy trades. If bearish candlestick closes below 0.9736 critical support level then up trend is going to end.

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