Elliott Wave technical analysis with trading signals for DXY, EURUSD, GBPUSD, USDJPY, XAUUSD.
This is an update to previous analysis.
Elliott Wave Forex analysis, March 24, 2019
Elliott Wave Forex analysis, March 8, 2019
Elliott Wave Forex analysis, February 22, 2019
Elliott Wave Forex analysis, February 14, 2019
Elliott Wave Forex analysis, February 7, 2019
Elliott Wave Forex analysis, February 1, 2019
Elliott Wave Forex analysis, January 24, 2019
Elliott Wave Forex analysis, January 18, 2019
Elliott Wave Forex analysis, January 8, 2019 Commodity Currencies
Elliott Wave Forex analysis, January 3, 2019
DOLLAR INDEX
Our US Dollar long order got triggered at 96.81 and the market completed five waves up at 97.52. More upside is favored as we stay above 95.74. From a short term perspective, we could see more downside to complete a flat correction. Alternatively, the correction was already completed at 96.74 and we will see new highs from here.
Trading strategy DXY
Remain long from 96.81, move stops to 95.74.
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Euro US Dollar (EUR/USD)
Our EUR/USD short was triggered at 1.1272, and it went lower. Now it looks like we will continue lower and take our 2019 lows at 1.1175.
Trading strategy EUR/USD
Remain short from 1.1272, move the stop loss to 1.1448
British Pound US Dollar (GBP/USD)
The pound remains elusive as there is no clear wave structure. I have canceled my short order at 1.2960 and remain on the sidelines for now.
Trading strategy GBP/USD
Stand aside.
New Zealand Dollar US Dollar
We remain short NZD/USD from 0.6840 as mentioned in February 15 update
“As mentioned last week, we are probably in a flat correction wave ((ii)) and as we stay below 0.6941 we will most likely see now lows towards the 0.66/65 area.”
This pair still has more downside to complete the ongoing correction
Trading strategy NZD/USD
Remains short from 0.6840, move the target to 0.6550
Gold Spot US Dollar (XAU/USD)
Our order to sell Gold at 1303 got triggered and we almost hit our first TP target (1270). Gold remains bearish against 1346 high for a move towards 1250 area. But now the move can unfold in two different ways.
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We are doing a larger wave C and we are in wave 2 of 3. Wave 3 of 3 will follow and it will be the strongest one
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We are in an expanding flat correction and could see a move towards 1315 before more downside.
Trading strategy XAU/USD
Remain short from 1303, stop-loss 1346, move the target to 1255.
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TraderWgun has over 4 years of experience with the Elliott Wave Principle, 6 years trading part-time. Twitter handle @atliveanner
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