Elliott Wave technical analysis with trading signals for NZDUSD, AUDUSD, USDJPY, DXY, EURUSD
DXY
The dollar is consolidating just above long-term 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 continuation. A break above 93.50 would confirm the structure and the beginning of the 5th wave.
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 which we still don’t have now and we are looking for an upside structure continuation.
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 but we still don’t have a confirmation. A break below the 0.6500 is needed to accelerate the downside.
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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