May 18, 2016 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for May 18, 2016, 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 0.7400 price level. So, as long as price stay below 0.7400 resistance level, look for sell trades. If bullish candlestick closes above 0.7400 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 121.47 price level. So, as long as price stay above 121.47 support level, look for buy trades. If bearish candlestick closes below 121.47 critical support level then up trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.1446 price level. So, as long as price stay below 1.1446 resistance level, look for sell trades. If bullish candlestick closes above 1.1446 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.4570 price level. So, as long as price stay below 1.4570 resistance level, look for sell trades. If bullish candlestick closes above 1.4570 critical resistance level then down trend is going to end.

USD/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 107.50 price level. So, as long as price stay above 107.50 support level, look for buy trades. If bearish candlestick closes below 107.50 critical support level then up 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 0.9574 price level. So, as long as price stay above 0.9574 support level, look for buy trades. If bearish candlestick closes below 0.9574 critical support level then up trend is going to end.

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