Elliott Wave technical analysis with trading signals for NZDUSD, AUDUSD, USDJPY, DXY, EURUSD
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 which we have now and we are looking for an upside structure continuation.
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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DXY
The dollar is consolidating just above the support. 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 and we just have a good bounce.
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 seems to be finished within an ending diagonal. A break below the 0.6500 will accelerate and is on a test now.
EURUSD
EURUSD is finishing the B in a running flat correction within the 3rd impulsive decline long-term by testing and being rejected by 1.1980 again. A break below the 1.17000 is needed for confirmation. The C should bring a break below 1.08000 for a downside continuation and a finish of 3rd wave.
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