Tue 08-01-2019 | TradingWaves

Tue 08-01-2019

Tue 08-01-2019


USDJPY

Wave ii is taking long to pull down the c wave to complete before raising to start Wave iii.
There has been no much price action today either so I can not see any alternative interpretation at the moment.

60Mins

4Hours

Daily




GBPUSD

GBPUSD has now shown amore clear 5 wave count on the upside for Wave (c), where Wave iv is underway and should not go lower than Wave i @1.2600  before going up again on Wave v. 


60Mins

4Hours

Daily





EURUSD

Yesterday on EURUSD I mentioned my doubts on the current count and that would be invalid as soon as Resistance levels created by previous Wave c is passed @1.1495 and the alternate count drawn as an extended Wave[ii] would jump to place. 

Today it is still undecided, although I am starting to favour the alternate count for what might start to look like a 5 Wave structure similar to GBPUSD.

60Mins

4Hours

Daily



EURCHF

EURCHF picture also has not changed much as it is still developing Wave (b) of Wave [iv].

60Mins

4Hours

Daily




AUDUSD

Not much price action on AUDUSD either so I am still expecting a Wave (ii) Correction on the downside from what appears to be a very strong impulsive Wave (i).

60Mins

4Hours

Daily






USDCAD

USDCAD also not much change since yesterday: impressive impulsive series of waves to the downside on Wave (b) is making the trend levels much closer for a possible low-risk entry to take on Wave (c) towards the upside.


60Mins

4Hours

Daily







USDCHF

Still waiting for that touch on the trendline; USDCHF trend is best seen on the 4Hour Chart which is also taking course very rapidly on the donside towards trend Support levels for a low-risk entry.


60Mins

4Hours

Daily





EURGBP

EURGBP looks like about to finish Wave B (best seen in the Daily chart) on a series of combination corrections and soon to make its way down ona Wave C.

Looking at the 4Hour chart might take few days or a week to arrive to the upper trend line that has been developing since beginning of December.

And looking at the Hour Chart it might be developing a Wave ii on a 5 wave structure to complete the Trend up.


60Mins

4Hours

Daily






















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Author: admin - TradingWaves contributor specializing in Market Structure, Elliott Wave, and Technical Analysis.

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