SPX500 cycle from Mid-October low is mature and expected to end soon. Index has met minimum requirements of the structure which makes it even more vulnerable but we don’t like to pick tops or bottoms in Elliottwave-Forecast and the fact that Index provided divergence in RSI with the new low we saw today, we still […]

AUDJPY 12.8.2014 AUDJPY looks like is the 1st Yen pair to end the cycle from Mid-October low among Indices and Yen pairs. Today pair broke below 99.91 area so while below 101.36, pair has scope to test 98.86 – 98.31 area to end the cycle from 102.40 high. After that we would expect a bounce at least […]

Preferred Elliott Wave view suggests price action between 102.40 (11.16) – 99.91 (11.26) was a FLAT structure and completed wave (( w)). FLAT is a 3-3-5 structure in Elliott Wave Theory and this one in particular was an Expanded FLAT. You can learn more about 3 types of FLAT structures here We have seen a 3 […]

In our previous chart of the day updates posted on December 1 and December 2 , we were expecting the Index to rally and find buyers in the dips. Index pulled back in wave (b) as per preferred Elliott wave view and we think it’s over at 6665. Near-term focus is on 6780 – 6807 […]

USDJPY has reached equal legs up from 117.20 as was expected during the weekend Elliott wave update. Another high toward 120.25 is still expected to complete the current Elliott wave cycle i.e. wave (( w )) before we get a pull back in wave (( x )) and higher again. Risk / reward is not great […]

In yesterday’s post we said FTSE dip was corrective and should find buyers soon for the next leg higher. Index rallied as expected and we think wave X low is in place at 6636. Rally from 6636 low is taking the form of an Elliott wave impulse which we have labelled as wave (a). Once […]