Elliott Wave technical analysis with trading signals for NZDUSD, AUDUSD, USDJPY, DXY, EURUSD
DXY
The dollar continued to weaken against the basket of currencies. Now an expanded flat correction ABC is coming to an end with the DXY testing the key long-term support 93. The bounce should come from here for an extended long-term 5th wave. We are bullish on USD against 92.50.
AUDUSD
After the 5 waves up in a pullback the pair is showing increasing signs of reversal for a downside continuation in long-term 5 waves down (4th wave pullback is coming to an end). Looking to short against 0.72500 on a wedge break.
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USDJPY
USDJPY expanding flat within larger ABC flat is still running and it seems to be in a 2nd wave of the impulsive wave higher. This is indicating a 103 as the key support for the invalidation of the pair upside continuation. We had a bounce from 103 but we need to see a break above 106.500 for a 3rd wave confirmation.
NZDUSD
Similar to AUDUSD but different in the structure as we are in the 3rd wave of the long-term downside impulsive decline. 5th wave still unfinished within an ending diagonal. For a structure to be finished we need to see a break below 0.6500 level.
EURUSD
EURUSD is finishing the B in a running flat correction within the 3rd impulsive decline long-term by testing and being rejected by 1.1900. The C should bring a break below 1.08000 for a downside continuation and a finish of 3rd wave.
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