August 2, 2012 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for August 2, 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 1.0541 price level. So, as long as price stay below 1.0541 resistance level, look for sell trades. If bullish candlestick closes above 1.0541 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 97.32 price level. So, as long as price stay below 97.32 resistance level, look for sell trades. If bullish candlestick closes above 97.32 critical resistance level then down trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.2388 price level. So, as long as price stay below 1.2388 resistance level, look for sell trades. If bullish candlestick closes above 1.2388 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5697 price level. So, as long as price stay below 1.5697 resistance level, look for sell trades. If bullish candlestick closes above 1.5697 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9694 price level. So, as long as price stay above 0.9694 support level, look for buy trades. If bearish candlestick closes below 0.9694 critical support level then up trend is going to end.

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