Daily Elliott Wave Video Analysis — May 5, 2016

The daily Elliott Wave analysis video for May 5, 2016, 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 0.7718 price level. So, as long as price stay below 0.7718 resistance level, look for sell trades. If bullish candlestick closes above 0.7718 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 126.44 price level. So, as long as price stay below 126.44 resistance level, look for sell trades. If bullish candlestick closes above 126.44 critical resistance level then down trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.1370 price level. So, as long as price stay above 1.1370 support level, look for buy trades. If bearish candlestick closes below 1.1370 critical support level then up trend is going to end.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.4345 price level. So, as long as price stay above 1.4345 support level, look for buy trades. If bearish candlestick closes below 1.4345 critical support level then up trend is going to end.

USD/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 110.66 price level. So, as long as price stay below 110.66 resistance level, look for sell trades. If bullish candlestick closes above 110.66 critical resistance level then down trend is going to end.

USD/CAD
Trend is bullish in 1 hour chart. Intraday support is present at 1.2460 price level. So, as long as price stay above 1.2460 support level, look for buy trades. If bearish candlestick closes below 1.2460 critical support level then up trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9442 price level. So, as long as price stay above 0.9442 support level, look for buy trades. If bearish candlestick closes below 0.9442 critical support level then up trend is going to end.

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