The Euro has moved rather sideways over the last 24 hours leaving both the hourly wave counts valid.
We continue with the hourly wave counts from the previous analysis and have included the latest price movements.
EURUSD 10th May, 2012
by Hugo Venter · May 10th, 2012 · EURUSD 5 Day Analysis · No Comments
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USD Index Forex Elliott Wave Analysis – 10th May, 2012
by Hugo Venter · May 10th, 2012 · USD Index · No Comments
The Dollar has done as we expected from our previous analysis and the index moved higher reaching our upwards target.
We continue today with the main daily wave count and the main hourly from our previous analysis. The alternate daily still remains valid with some adjustments, but we will only look at that once the structure requires it.
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GBPUSD 9th May, 2012
by Nady Laymoud · May 9th, 2012 · GBPUSD 5 Day Analysis · No Comments
As expected the pound moved towards the downside reaching and exceeding the specified target by 8 pips before reversing directions and moving towards the upside.
Today`s main and alternative counts expect the pound to unfold towards the upside, however one count expects it to be in a corrective manner and the other count expects the pound to unfold toward the upside in a motive manner -either as an impulse or a diagonal-.
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EURUSD 9th May, 2012
by Hugo Venter · May 9th, 2012 · EURUSD 5 Day Analysis · No Comments
The main hourly wave count from our previous analysis was invalidated and therefore our alternate hourly, which expects wave 2 red is complete, has now become the main hourly wave count which allows the invalidation point to be moved lower to current price.
We continue with this hourly count and also provide a new alternate hourly wave count.
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GBPUSD 8th May, 2012
by Nady Laymoud · May 8th, 2012 · GBPUSD 5 Day Analysis · 1 Comment
Today the pound moved towards the downside as expected, however the downwards movement so far unfolded is in three waves, therefore today`s first alternative count keeps in mind the probabilities of an unfinished corrective structure.
We mentioned in yesterday`s analysis that we will provide a count that sees wave 4 blue as incomplete and it should be noted that this count has lower probabilities than both main and first alternative count.
We added tight invalidation points for both counts and as always we will use each count`s invalidation point to confirm the other count.
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EURUSD 8th May, 2012
by Hugo Venter · May 8th, 2012 · EURUSD 5 Day Analysis · 2 Comments
The Euro slowly continued lower as our previous analysis expected, however the wave behavior is not convincing of a third wave.
We provide a main and alternate hourly wave count today.
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