2018-12-21
The AUD/USD pair is approaching its resistance at 0.7162 (100% Fibonacci extension, 61.8 % & 50% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 0.7105 (76.4% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) is nearing its resistance at 87% where a corresponding drop is anticipated.
AUD/USD is approaching its resistance where we expect to see a reversal.
Sell below 0.7162. Stop loss at 0.7203. Take profit at 0.7105.
Elliott wave analysis of EUR/JPY for December 21, 2018
2018-12-21
The EUR/JPY pair has finally broken below the triangle support-line at 127.70 and the wave C will be able to lower to the long-term ideal target at 123.66.
Now the previous support at 127.70 should act as resistance and, ideally, cap the upside for a further decline in the wave C. However, this will be only a break above resistance at 128.38 that invalidates further downside pressure and indicates a long-term low.
R3: 128.38
R2: 128.07
R1: 127.70
Pivot: 127.50
S1: 127.20
S2: 126.63
S3: 125.96
Trading recommendation:
WE are short EUR from 128.05 and we will move our stop and reverse orders lower to 128.45.
Elliott wave analysis of EUR/NZD for December 21, 2018
2018-12-21
The correction in the wave iv should be close to its end. Ideally, we will see a final spike above 1.7015 where a peak of a new impulsive decline in the wave v towards 1.6166 is expected.
In the short-term, a break below minor support at 1.6777 will be a strong indication that the wave iv correction is completed, while a break below support at 1.6533 will confirm that the wave v is developing.
R3: 1.7071
R2: 1.7015
R1: 1.6965
Pivot: 1.6921
S1: 1.6878
S2: 1.6777
S3: 1.6725
Trading recommendation:
We will sell EUR at 1.7010 or, after a break, below 1.6777.
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