Episode 20 of ForexDayBreak daily podcast - recorded 03092015 - - - - - - - - - - - - - - - - - - - - - - eur/usd Not much progress has been seen in eur/usd. Slight decline and a bearish bias. Trend direction: larger view is Bearish, a turn to the downside has possibly started. Key levels: immediate resistance is at 1.133. immediate support area around 1.12, which has held multiple times. Wave Count: Finals larger wave down has most likely started. - - - - - - - - - - - usd/jpy usd/jpy has continued to move higher and this gives stronger signals for the 3rd wave. Trend direction: Bullish, wave 5 to the upside is still needed. Key levels: next resistance level is 121.4. Support on the downside at 119.2 Wave Count: usd/jpy may have started final large wave to the upside. - - - - - - - - - - - gbp/usd New mid term low was made in gbp/usd yesterday. 3rd wave down is still forming. Trend direction: bearish. 3rd wave down is in force. Key levels: 1.5335 is the next upside resistance level. 1.519, is the next support on the downside. Wave Count: New count proposes minute wave 3 down and next larger move down. - - - - - - - - - - - eur/gbp yesterday was up day for gbp/usd, but still did not reach to new highs. Trend direction: still Bullish, last part of minor wave Y forming on the upside. Key levels: Downside critical level is 0.7279, first wave of the advance. resistance on the upside is still 0.739, and has held on multiple occasions. Wave Count: 5th wave to the upside needed to complete the structure. - - - - - - - - - - - eur/jpy eur/jpy has inched lower but the wave divisions are still unclear and hard to label. Trend direction: mid term view is bearish. Key levels: 135.8 is the next resistance level on the upside. 135.00 is the immediate downside support. Wave Count: minute wave (B) possibly ended and larger wave (C) down has started. - - - - - - - - - - - gbp/jpy gbp/jpy has moved higher a little and i am still in favour of the forming wave 2 correction. Trend direction: Long term view is bearish. Waves 1 and 2 on the downside completed. Key levels: upside resistance is now 185.00 On the downside 182.42 is next support level, the recent low. Wave Count: a larger downtrend has possibly started and we are forming 3rd wave. - - - - - - - - - - - eur/cad eur/cad is still at later stages of 4th wave correction. Trend direction: Bearish, started a larger impulsive wave down. Key levels: upside recent resistance is at 1.50, 4th wave high. next downside support level is 1.461. Wave Count: Possibly completed minute wave (C) of minor wave Y and started a larger impulsive move down. - - - - - - - - - - - usd/cad the 4th wave correction is getting more complex in usd/cad. Trend direction: Bearish, going lower for 4th wave correction. Key levels: Next downside support is the previous 3rd wave high of 1.3212. the latest high of 1.335 is the resistance on the upside. Wave Count: Minute wave 4 correction forming. We should see a decline towards 1.286 - - - - - - - - - - - - - - - - - - - - - - - - - - - - See more at: https://forexdaybreak.com/fdb-ep-20-forex-daybreak-daily-forex-podcast/#sthash.6WaD78M5.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: 9
Duration: 19m 47s
Rating: 0