Episode 17 of ForexDayBreak daily podcast - recorded 31082015 - - - - - - - - - - - - - - - - - - - - - - eur/usd eur/usd closed below important level 1.123, but is now higher. Trend direction: larger view is Bearish, a turn to the downside has possibly started. Key levels: immediate resistance is at 1.1275. immediate support at 1.1213, A wave peak. Wave Count: minute wave (C) of the last larger wave of this correction is on latter stages. 1.1213 is the validation level for this count. - - - - - - - - - - - usd/jpy upwards momentum has continued in usd/jpy, but is looking weak. Trend direction: Bullish, wave 5 to the upside is still needed. Key levels: next resistance level comes at 121.91. Support on the downside at 120.4. Wave Count: May have started final large wave to the upside. - - - - - - - - - - - gbp/usd gbp/usd has opened higher and might make a correction on this position. Trend direction: bearish. 3rd wave down is in force. Key levels: 1.55 is the next upside resistance level. 1.533, minute wave 1 low is acting as support on the downside. Wave Count: New count proposes minute wave 3 down and next larger move down. - - - - - - - - - - - eur/gbp eur/gbp is still on a sideways range which i have labelled wave 4. Trend direction: mid term Bullish, minor wave Y forming on the upside. Key levels: Downside support around 0.7245, fridays low. resistance on the upside is 0.7379, and has held on multiple occasions. Wave Count: 5th wave to the upside needed to complete the structure. - - - - - - - - - - - eur/jpy eur/jpy is on a sideways range. Outlook is bearish but wave divisions are overlapping. Trend direction: mid term view is bearish. Key levels: 136.42 is the immediate resistance on the upside. 135.00 on the downside will act as support. Wave Count: minute wave (B) possibly ended and larger wave (C) down has started. - - - - - - - - - - - gbp/jpy gbp/jpy has gained a little to the upside and minute wave 2 might not be over yet. Trend direction: Mid term view is bearish. Waves 1 and 2 on the downside completed. Key levels: small upside resistance around 187.64 On the downside 185.00 is next support level, minor wave 1 low. Wave Count: a larger downtrend has possibly started and we are forming 3rd wave. - - - - - - - - - - - eur/cad eur/cad is lower and is forming the first 5 wave structure to the downside. Trend direction: Bearish, started a larger impulsive wave down. Key levels: upside is open untill 1.50. next downside support level is 1.474. fridays low. Wave Count: Possibly completed minute wave (C) of minor wave Y and started a larger impulsive move down. - - - - - - - - - - - usd/cad usd/cad has probably ended minuette wave B of minute wave 4. Trend direction: Bearish, going lower for 4th wave correction. Key levels: Next downside support is the previous 3rd wave high of 1.31. 1.335 is the recent high on the upside and acts as resistance. Wave Count: Minute wave 4 correction forming. We should see a decline towards 1.286 - - - - - - - - - - - - - - - - - - - - - - - - - - - - See more at: https://forexdaybreak.com/fdb-ep-17-31082015-forex-daybreak-daily-forex-podcast/#sthash.A6VMvhql.dpuf website: http://forexdaybreak.com facebook: https://www.facebook.com/vivaicoltd - Ville Vainio facebook: https://www.facebook.com/pages/Forex-DayBreak/1594619594160164 Twitter: https://twitter.com/forexdaybreak
Visibility: 8
Duration: 17m 54s
Rating: 0