2018-12-14
We are looking for confirmation, that wave e of B has completed, A break below minor support at 128.72 and more importantly a break below support at 128.15 is needed to confirm wave B has completed and the final decline in wave C towards the long-term ideal target at 123.66 is developing.
At no point can a break above 129.29 be accepted under this count. A break above important resistance at 129.29 will invalidate wave B as a triangle and call for a rally to at least 130.15.
R3. 129.68
R2: 129.29
R1: 129.15
Pivot: 128.72
S1; 128.15
S2: 127.77
S3: 127.20
Trading recommendation:
WE are short EUR from 128.05 with our stop+revers placed at 129.35.
Elliott wave analysis of EUR/NZD for December 14, 2018
2018-12-14
EUR/NZD has rallied nicely and as expected into the target-zone between 1,.6694 - 1.6760. We will be looking for a corrective top in this area for a new impulsive decline in wave v towards the ideal target near 1.6169.
Short-term support is found at 1.6622 and important support is seen at 1.6533. A break below the later will indicate that the corrective top in wave iv is in place and wave v lower is developing.
R3: 1.6760
R2: 1.6728
R1: 1.6693
Pivot: 1.6622
S1: 1.6577
S2: 1.6533
S3: 1.6477
Trading recommendation:
Our take profit at 1.6675 was hit for a nice 195 pips profit. We will sell EUR at 1.6755 with a stop placed at 1.6805.
Technical analysis for Gold for December 14, 2018
2018-12-14
Gold price is pulling back towards the support area of $1,239-40. This pullback has a short-term target of $1,235 where the short-term 38% Fibonacci retracement is found. Bulls would want this decline to stop there.
Green rectangles -support levels
Red rectangle -short-term target
Green line -long-term support trend line
Blue line - short-term trend line support
Gold price is making lower lows and lower highs on an intraday basis. Price is most probably heading towards the 38% Fibonacci level and the upward sloping blue trend line support. Breaking below this trend line would be a sign of weakness. The most important short-term support level is at the recent high we broken above at $1,231-30. Breaking below this level will be an important sign of weakness. Bulls do not want to see such a deep pull back. The green trend line support is my line in the sand for the bullish scenario. As long as we are above it bulls remain in control of the medium-term trend.
Technical analysis for EUR/USD for December 14, 2018
2018-12-14
The euro continues to trade inside a tightening range having formed a triangle pattern. Trend remains neutral as price is still below resistance and above support. Traders better wait for a confirmed breakout before choosing sides.
Red rectangle -short-term target
Green line -long-term support trend line
Blue line - short-term trend line support
Gold price is making lower lows and lower highs on an intraday basis. Price is most probably heading towards the 38% Fibonacci level and the upward sloping blue trend line support. Breaking below this trend line would be a sign of weakness. The most important short-term support level is at the recent high we broken above at $1,231-30. Breaking below this level will be an important sign of weakness. Bulls do not want to see such a deep pull back. The green trend line support is my line in the sand for the bullish scenario. As long as we are above it bulls remain in control of the medium-term trend.
Technical analysis for EUR/USD for December 14, 2018
2018-12-14
The euro continues to trade inside a tightening range having formed a triangle pattern. Trend remains neutral as price is still below resistance and above support. Traders better wait for a confirmed breakout before choosing sides.
Blue lines - triangle boundaries
Nothing new regarding our view on EUR/USD. Price is in the middle of the range.Resistance is at 1.1430 and support at 1.1315. A 4-hour close below 1.1315 will open the way for at least a move towards 1.1270 and then towards 1.11. If we see a 4-hour close above 1.1430, we should then expect prices to move towards 1.15 and above.
Nothing new regarding our view on EUR/USD. Price is in the middle of the range.Resistance is at 1.1430 and support at 1.1315. A 4-hour close below 1.1315 will open the way for at least a move towards 1.1270 and then towards 1.11. If we see a 4-hour close above 1.1430, we should then expect prices to move towards 1.15 and above.
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