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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 148863, member: 40858"] [FONT=Roboto][COLOR=rgb(44, 44, 44)][SIZE=6][B]USDSGD Showing Incomplete Elliott Wave Structure To The Upside[/B][/SIZE] USDSGD short-term Elliott wave view suggests that the decline to 1.3299 on 6/07 low ended primary wave ((X)) pullback. Above from there, the pair rallied higher and went on to make a new high for this year creating 5 swing incomplete sequence to the upside from 1/25/2018 low. This sequence is represented by the bullish tag marked on the chart below. The rally from 6/07 low appears to be in 5 waves & the structure looks impulsive. The 5 waves rally up from 6/7 low ended Intermediate wave (A) of an Elliott wave Zig-zag pattern at 1.3654. Up from Primary wave ((X)) low at 1.3299, the rally to 1.3371 high ended Minor wave 1. Then the pullback to 1.3326 low ended Minor wave 2 as double three structure. Above from there, the pair made a strong rally in lesser degree 5 waves structure & ended Minor wave 3 at 1.3642 high. Down from there, the pullback to 1.3531 low ended Minor wave 4. Finally, the rally to 1.3654 high may have ended Minor wave 5 and also the Intermediate wave (A) of a Zigzag. The pair is now doing a pullback in Intermediate wave (B) to correct cycle from 6/07 low in 3, 7 or 11 swings before further upside is seen. We don’t like selling it and expect buyers to appear once Intermediate wave (B) pullback ends in 3, 7 or 11 swings for further upside, provided the pivot from 6/07 low (1.3299) stays intact. [SIZE=3][B]USDSGD 1 Hour Elliott Wave Chart[/B][/SIZE] [URL='https://elliottwave-forecast.com/wp-content/uploads/2018/06/1SGD-1H20180626104204.jpg'][COLOR=rgb(170, 170, 170)][IMG]https://elliottwave-forecast.com/wp-content/uploads/2018/06/1SGD-1H20180626104204.jpg[/IMG][/COLOR][/URL][/COLOR][/FONT] [/QUOTE]
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