Episode 5 of ForexDayBreak daily podcast recorded 13082015 - - - - - - - - - - - - - - - - - - - - - - eur/usd Yesterday was a strong day for Euro. My preferred wave count is looking for more upside. Trend direction: Bullish, Final part of the large correction has started. Key levels: On the downside, minute wave (D) at 1.1127 is giving support. immediate Upside resistance area around 1.1215, the latest two peaks. Wave Count: Large triangle as minor wave X has completed and next phase of the correction has started. - - - - - - - - - - - usd/jpy The revision played out nicely and usd/jpy has declined heavily. Trend direction: short term view is bearish. Wave (c) should carry towards 123.00 area. Key levels: support level of 123.71 is next on the downside. immediate upside resistance is the trendline around 124.6 Wave Count: We should see a decline towards 123.00 level to complete the corrective wave (c) - - - - - - - - - - - gbp/usd slightly muted preice action on gbp/usd for the past days taking account the volatility on other pairs. Trend direction: bullish. possibly started minuette wave 3 to the upside. Key levels: the whole sideways pattern can be counted as supportive. Upside key level resistance is at 1.5689 Wave Count: possibly started the next impulsive wave up. - - - - - - - - - - - eur/gbp Upside bias and looking for more upside. Trend direction: Bullish, minor wave Y possibly started to the upside. Key levels: immediate downside support around 0.7097 Next resistance remains at 0.7166, the the latest short term high. Wave Count: Preferred view is bullish for mid term. Wave count is still unclear. - - - - - - - - - - - eur/jpy Strong bullish stance has continued but the smaller degree wave structure is still bit unclear. Trend direction: mid term view is bullish. Key levels: 138.88 has held as resistance level on the upside. 137.785 on the downside will act as minor support. Wave Count: minuette wave 3 to the upside is in force. - - - - - - - - - - - gbp/jpy The wave structure on gbp/jpy has gotten more complex. We might still be in corrective mode and forming minute wave 2. Trend direction: Bullish, next impulsive wave higher might have started. Key levels: Upside resistance comes at 195.22, the latest short term high. On the downside 193.43 is immediate support zone. Wave Count: looking to go higher on minute wave 3 impulsive advance. - - - - - - - - - - - eur/cad eur/cad is still giving mixed signals about the wave structure. Trend direction: Correction is continuing higher and getting more complex. Key levels: Next resistance is set at 1.4577. Upside after that is quite open. immediate downside support level is at 1.445 Wave Count: Minute wave (C) of correction is started. - - - - - - - - - - - usd/cad usd/cad made a strong decline yesterday and is forming 4th wave correction. Trend direction: Bearish, going lower for 4th wave correction. Key levels: Next downside support on the downside is at 1.2916 area. 1.32123 is acting as Upside resistance level. Wave Count: 5th wave of 3rd wave up just peaked. Turned down for minute wave 4. - - - - - - - - - - - - - - - - - - - - - - - - - - -
Visibility: 3
Duration: 12m 44s
Rating: 0