Daily Elliott Wave Video Analysis — August 12, 2016

The daily Elliott Wave analysis video for August 12, 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 bullish in 1 hour chart. Intraday support is present at 0.7597 price level. So, as long as price stay above 0.7597 support level, look for buy trades. If bearish candlestick closes below 0.7597 critical support level then up trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 114.80 price level. So, as long as price stay below 114.80 resistance level, look for sell trades. If bullish candlestick closes above 114.80 critical resistance level then down trend is going to end.

EUR/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.1030 price level. So, as long as price stay above 1.1030 support level, look for buy trades. If bearish candlestick closes below 1.1030 critical support level then up trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3532 price level. So, as long as price stay below 1.3532 resistance level, look for sell trades. If bullish candlestick closes above 1.3532 critical resistance level then down trend is going to end.

USD/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 102.83 price level. So, as long as price stay below 102.83 resistance level, look for sell trades. If bullish candlestick closes above 102.83 critical resistance level then down trend is going to end.

USD/CAD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3253 price level. So, as long as price stay below 1.3253 resistance level, look for sell trades. If bullish candlestick closes above 1.3253 critical resistance level then down trend is going to end.

USD/CHF
Trend is bearish in 1 hour chart. Intraday resistance is present at 0.9843 price level. So, as long as price stay below 0.9843 resistance level, look for sell trades. If bullish candlestick closes above 0.9843 critical resistance level then down trend is going to end.

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