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Daily Wave Analysis

April 18, 2014 - 07:19
Hello Traders, there is no wave count on Monday the 21st of April due to Easter Monday. Extra warning:  there is a high chance of slow price movements during Friday and Monday due to bank/public holidays in many financial centers. EURUSD Price could be making a retracement within an uptrend (blue trend line). 4 hour chart EURUSD: The upside yesterday was corrective and therefore wave 2 might not be completed. 60 min chart EURUSD: GBPUSD Whether wave 5 (green) has been completed or not needs to be reviewed on multiple time frames but...
April 17, 2014 - 06:38
EURUSD Price could be making a retracement within an uptrend (blue trend line). 4 hour chart EURUSD: An ABC correction could complete wave 2, which in turn might potentially translate into a breakout (green arrows) to higher levels. 60 min chart EURUSD: GBPUSD As expected, the GBPUSD broke to the upside yesterday with lots of momentum. The AO needs to turn before a confirmed divergence is present (now AO is moving up). 4 hour chart GBPUSD: The breakout already occurred during the Asian session, but retracement could see potential...
April 16, 2014 - 06:50
EURUSD Price could be making a retracement within an uptrend (blue trend line). 4 hour chart EURUSD: An ABC correction could complete wave 2, which in turn might potentially translate into a breakout (green arrows) to higher levels. 60 min chart EURUSD: GBPUSD Price bounced strongly to the upside at the 61.8% Fibonacci level and the daily candle has a big wick at the bottom. 4 hour chart GBPUSD: The wave 4 (green) has slightly gone through the wave 1 top but the wave count will remain the same as the break was small. Now there is a...
April 15, 2014 - 06:34
EURUSD Price could be making a retracement within an uptrend (blue and green support trend line). 4 hour chart EURUSD: The wave 4 took too long to develop so it is therefore more likely that a 5 wave has already been completed for a wave A or 1 (black). Price could be making a potential ABC for wave 2 OR B (black). A break above/in the bull flag could see a potential breakout (green/red arrows) occur. 60 min chart EURUSD: GBPUSD It is currently at the previous daily top. A break of this level could see a potential for price to move to...
April 14, 2014 - 06:17
EURUSD Price did not manage to stay in its channel (blue) when approaching the top (red line). Is this  a retracement? Let’s zoom in to lower time frames. 4 hour chart EURUSD: The wave 4 (green) has indeed bounced at the 38.2% Fibonacci level. Now there is a chance for price to retrace back to the 50% or break (green arrows) above the resistance (purple). 60 min chart EURUSD: GBPUSD It is currently at the previous daily top. A break of this level could see a potential for price to move to higher targets. 4 hour chart GBPUSD:...

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