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Simple Daily Analysis -EU

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There are no valid Elliott Wave trades available at this time. Stay out of the market.

Extensive Elliott Commentary for EURUSD240 (Daily) on 11-May-2007 with one incomplete pattern:

Wave B of the Primary degree inverted Flat with a rating of 98.6 is expected to complete in the price range 1.1988 to 1.3139, but more probably between 1.2495 and 1.3026. This wave could complete anytime between now and 15-Mar-2002, but is most likely to complete sometime between 02-Jun-2007 and 15-Sep-2007.

After wave B is complete, expect the market to continue up into wave C, which should be a five wave Impulsive pattern. Expect wave C to retrace wave B by 83% - 171%. Wave C can also be expected to be 88% - 171% of the price length of wave A. The expected time for wave C to complete is 57% - 246% of the time taken for wave B to complete and 53% - 209% of the time taken for wave A to complete.
 
tf h4

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Current Trading Positions for EURUSD240 (EURUSD240) Daily on 18-May-2007

* A Primary degree trader (hold positions from months to years), would currently be shorting this market. The probability of this Target Area being correct is 80.0%. However, the random probability of this Target Area being correct is 65.0%. So the true probability of this Target Area being correct is 23.1% better than random.

Extensive Elliott Commentary for EURUSD240 (Daily) on 18-May-2007 with three incomplete patterns:

Wave B of the Minor degree inverted Flat with a rating of 103.1 is expected to complete in the price range 1.3105 to 1.3508, but more probably between 1.3375 and 1.3482. This wave could complete anytime between now and 23-Jun-2007, but is most likely to complete sometime between 19-May-2007 and 29-May-2007.

After wave B is complete, expect the market to continue up into wave C, which should be a five wave Impulsive pattern. Expect wave C to retrace wave B by 86% - 173%. Wave C can also be expected to be 102% - 173% of the price length of wave A. The expected time for wave C to complete is 66% - 296% of the time taken for wave B to complete and 122% - 424% of the time taken for wave A to complete.

Wave (B) of the Intermediate degree Flat with a rating of 100 is expected to complete in the price range 1.3609 to 1.405, but more probably between 1.3644 and 1.3811. This wave could complete anytime between now and 28-Aug-2007, but is most likely to complete sometime between 22-May-2007 and 21-Jun-2007.

After wave (B) is complete, expect the market to continue down into wave (C), which should be a five wave Impulsive pattern. Expect wave (C) to retrace wave (B) by 93% - 176%. Wave (C) can also be expected to be 109% - 176% of the price length of wave (A). The expected time for wave (C) to complete is 59% - 248% of the time taken for wave (B) to complete and 117% - 379% of the time taken for wave (A) to complete.

Wave X of the Primary degree inverted Double Zigzag with a rating of 85.2 is expected to complete in the price range 1.2874 to 1.3534, but more probably between 1.3051 and 1.3381. This wave could complete anytime between now and 14-May-2008, but is most likely to complete sometime between 05-Jun-2007 and 06-Sep-2007.

After wave X is complete, expect the market to continue up into wave Y, which should be a three wave Zigzag pattern. Expect wave Y to retrace wave X by 177% - 381%. Wave Y can also be expected to be 102% - 381% of the price length of wave W. The expected time for wave Y to complete is 75% - 287% of the time taken for wave X to complete and 66% - 226% of the time taken for wave W to complete.


Current Analysis Settings:
Analysis Date Range: 01-Jan-2007 to 18-May-2007, Label Range: 7 - 30, Preferred Count Labels: 14, Min Rating: 75, Stocks toggle OFF, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern
 
tf h4

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Current Trading Positions for EURUSD240 (EURUSD240) Daily on 25-May-2007

* A Primary degree trader (hold positions from months to years), would currently be shorting this market. The probability of this Target Area being correct is 80.0%. However, the random probability of this Target Area being correct is 65.0%. So the true probability of this Target Area being correct is 23.1% better than random.

Extensive Elliott Commentary for EURUSD240 (Daily) on 25-May-2007 with three incomplete patterns:

Wave B of the Minor degree inverted Flat with a rating of 102 is expected to complete in the price range 1.3105 to 1.3508, but more probably between 1.3375 and 1.3482. This wave is due to complete anytime from now until 23-Jun-2007, but is most likely to complete before 30-May-2007.

After wave B is complete, expect the market to continue up into wave C, which should be a five wave Impulsive pattern. Expect wave C to retrace wave B by 86% - 173%. Wave C can also be expected to be 102% - 173% of the price length of wave A. The expected time for wave C to complete is 66% - 296% of the time taken for wave B to complete and 122% - 424% of the time taken for wave A to complete.

Wave (B) of the Intermediate degree Flat with a rating of 100.1 is expected to complete in the price range 1.3609 to 1.405, but more probably between 1.3644 and 1.3811. This wave is due to complete anytime from now until 28-Aug-2007, but is most likely to complete before 22-Jun-2007.

After wave (B) is complete, expect the market to continue down into wave (C), which should be a five wave Impulsive pattern. Expect wave (C) to retrace wave (B) by 93% - 176%. Wave (C) can also be expected to be 109% - 176% of the price length of wave (A). The expected time for wave (C) to complete is 59% - 248% of the time taken for wave (B) to complete and 117% - 379% of the time taken for wave (A) to complete.

Wave X of the Primary degree inverted Double Zigzag with a rating of 85.8 is expected to complete in the price range 1.2874 to 1.3534, but more probably between 1.3051 and 1.3381. This wave could complete anytime between now and 15-May-2008, but is most likely to complete sometime between 05-Jun-2007 and 07-Sep-2007.

After wave X is complete, expect the market to continue up into wave Y, which should be a three wave Zigzag pattern. Expect wave Y to retrace wave X by 177% - 381%. Wave Y can also be expected to be 102% - 381% of the price length of wave W. The expected time for wave Y to complete is 75% - 287% of the time taken for wave X to complete and 66% - 226% of the time taken for wave W to complete.


Current Analysis Settings:
Analysis Date Range: 01-Jan-2007 to 25-May-2007, Label Range: 7 - 30, Preferred Count Labels: 14, Min Rating: 75, Stocks toggle OFF, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern
 
tf h4

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Current Trading Positions for EURUSD240 (EURUSD240) Daily on 01-Jun-2007

* A Primary degree trader (hold positions from months to years), would currently be shorting this market. The probability of this Target Area being correct is 81.2%. However, the random probability of this Target Area being correct is 65.0%. So the true probability of this Target Area being correct is 24.9% better than random.

Extensive Elliott Commentary for EURUSD240 (Daily) on 01-Jun-2007 with three incomplete patterns:

Wave X of the Minor degree inverted Double 3 with a rating of 95.9 is expected to complete in the price range 1.3143 to 1.3585, but more probably between 1.3416 and 1.3491. This wave was expected to complete before 28-May-2007, and must complete by 22-Jun-2007.

After wave X is complete, expect the market to continue up into wave Y, which will probably be a three wave corrective pattern. Expect wave Y to retrace wave X by 115% - 258%. Wave Y can also be expected to be 111% - 258% of the price length of wave W. The expected time for wave Y to complete is 85% - 282% of the time taken for wave X to complete and 148% - 366% of the time taken for wave W to complete.

Wave (B) of the Intermediate degree Flat with a rating of 91 is expected to complete in the price range 1.3615 to 1.4418, but more probably between 1.3653 and 1.3842. This wave is due to complete anytime from now until 08-Sep-2007, but is most likely to complete before 30-Jun-2007.

After wave (B) is complete, expect the market to continue down into wave (C), which should be a five wave Impulsive pattern. Expect wave (C) to retrace wave (B) by 94% - 170%. Wave (C) can also be expected to be 112% - 170% of the price length of wave (A). The expected time for wave (C) to complete is 55% - 222% of the time taken for wave (B) to complete and 120% - 385% of the time taken for wave (A) to complete.

Wave X of the Primary degree inverted Double Zigzag with a rating of 88.9 is expected to complete in the price range 1.2882 to 1.3542, but more probably between 1.3083 and 1.3389. This wave is due to complete anytime from now until 30-Mar-2008, but is most likely to complete before 14-Aug-2007.

After wave X is complete, expect the market to continue up into wave Y, which should be a three wave Zigzag pattern. Expect wave Y to retrace wave X by 186% - 388%. Wave Y can also be expected to be 102% - 388% of the price length of wave W. The expected time for wave Y to complete is 68% - 278% of the time taken for wave X to complete and 57% - 186% of the time taken for wave W to complete.


Current Analysis Settings:
Analysis Date Range: 02-Jan-2007 to 01-Jun-2007, Label Range: 7 - 30, Preferred Count Labels: 20, Min Rating: 75, Stocks toggle ON, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern
 
EUR/USD has broken the important support and remain corrective

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Yesterday, we saw EUR/USD at the highest volatility upon the Non-Farm Payroll data released. The data released much more better than the expected one at 157k. So, the result saw Euro broke the most important support at 1.3416 area and did go further down to make a new low of the month at 1.3391. Euro has also tried to reach the nearest resistance at 1.3466 area but failed to do so. We saw a great whipsaw reaction yesterday with Euro went up and down for 4 times!

From the elitebisnes point of view, yesterday's market reaction confirmed that EUR/USD remain corrective. So, the corrective pattern now consists a combination of Triple ZigZag Correction and the Flat Pattern. We might see EUR/USD to meet the next Elliot Wave cycle next week. Otherwise, another corrective pattern will take place.


Regards
 
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Current Trading Positions for EURUSD240 (EURUSD240) Daily on 08-Jun-2007

* A Primary degree trader (hold positions from months to years), would currently be shorting this market. The probability of this Target Area being correct is 82.0%. However, the random probability of this Target Area being correct is 65.0%. So the true probability of this Target Area being correct is 26.2% better than random.

Extensive Elliott Commentary for EURUSD240 (Daily) on 08-Jun-2007 with two incomplete patterns:

Wave (Y) of the Intermediate degree Double Zigzag with a rating of 101.5 is expected to complete in the price range 1.3095 to 1.3355, but more probably between 1.3215 and 1.3339. This wave is most likely to complete sometime between 15-Jun-2007 and 14-Jul-2007 Note that it cannot complete until 09-Jun-2007 but must complete by 03-Aug-2007.

Wave (Y) will probably complete this Double Sharp pattern, although it could possibly extend into a Triple Sharp pattern.

This is the final wave in the pattern. When complete it will also complete wave X of the Primary degree inverted Double Zigzag with a rating of 91. These two waves have the same target ranges.

After wave X is complete, expect the market to continue up into wave Y, which should be a three wave Zigzag pattern. Expect wave Y to retrace wave X by 186% - 388%. Wave Y can also be expected to be 102% - 388% of the price length of wave W. The expected time for wave Y to complete is 68% - 278% of the time taken for wave X to complete and 57% - 186% of the time taken for wave W to complete.


Current Analysis Settings:
Analysis Date Range: 02-Jan-2007 to 08-Jun-2007, Label Range: 7 - 30, Preferred Count Labels: 22, Min Rating: 75, Stocks toggle ON, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern

Analysis were made using the Refined Elliott Trader software
http://www.elliottician.com/product-information/the-elliottician-system.html

for the rest daily time frame major pairs forecast.. visit ‘em at http://bsfxprediction.blogspot.com
for 4h & 1h time frame elliot wave analysis(s).. visit ‘em at http://bsmtprediction.blogspot.com/
 

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Extensive Elliott Commentary for EURUSD240 (Hourly) at 04:00 18-Jun-2007 with one incomplete pattern:

Wave Y of the Primary degree inverted Double Zigzag with a rating of 102.2 is expected to complete in the price range 1.3976 to 1.5387, but more probably between 1.4057 and 1.4796. This wave is most likely to complete sometime between 08:00 14-Aug-2007 and 16:00 15-Jan-2008 Note that it cannot complete until 04:00 06-Jul-2007 but must complete by 00:00 14-Mar-2008.

Wave Y will probably complete this Double Sharp pattern, although it could possibly extend into a Triple Sharp pattern.


Current Analysis Settings:
Analysis Date Range: 02-Jan-2007 to 18-Jun-2007, Label Range: 7 - 30, Preferred Count Labels: 26, Min Rating: 75, Stocks toggle OFF, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern

Analysis were made using the Refined Elliott Trader software
http://www.elliottician.com/product-information/the-elliottician-system.html

for the rest daily time frame major pairs forecast.. visit ‘em at http://bsfxprediction.blogspot.com
for 4h & 1h time frame elliot wave analysis(s).. visit ‘em at http://bsmtprediction.blogspot.com/
 
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Extensive Elliott Commentary for EURUSD (Weekly) on 20-Jun-2007 with two incomplete patterns:

Wave (B) of the Intermediate degree Flat with a rating of 103.2 is expected to complete in the price range 1.3547 to 1.4271, but more probably between 1.3602 and 1.3892. This wave could complete anytime between now and 09-Oct-2008, but is most likely to complete sometime between 04-Jul-2007 and 03-Oct-2007.

After wave (B) is complete, expect the market to continue down into wave (C), which should be a five wave Impulsive pattern. Expect wave (C) to retrace wave (B) by 89% - 172%. Wave (C) can also be expected to be 94% - 172% of the price length of wave (A). The expected time for wave (C) to complete is 50% - 236% of the time taken for wave (B) to complete and 53% - 211% of the time taken for wave (A) to complete.

Wave B of the Primary degree inverted Flat with a rating of 89.8 is expected to complete in the price range 1.1995 to 1.3147, but more probably between 1.2503 and 1.3035. This wave is due to complete anytime from now until 16-Apr-2009, but is most likely to complete before 12-Sep-2007.

After wave B is complete, expect the market to continue up into wave C, which should be a five wave Impulsive pattern. Expect wave C to retrace wave B by 83% - 171%. Wave C can also be expected to be 88% - 171% of the price length of wave A. The expected time for wave C to complete is 57% - 246% of the time taken for wave B to complete and 53% - 209% of the time taken for wave A to complete.


Current Analysis Settings:
Analysis Date Range: 08-Jan-2007 to 20-Jun-2007, Label Range: 7 - 30, Preferred Count Labels: 18, Min Rating: 75, Stocks toggle OFF, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern

Analysis were made using the Refined Elliott Trader software
http://www.elliottician.com/product-information/the-elliottician-system.html
 
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* A Primary degree trader (hold positions from months to years), would currently be trading long in this market. The probability of this Target Area being correct is 82.6%. However, the random probability of this Target Area being correct is 65.0%. So the true probability of this Target Area being correct is 27.1% better than random.

Extensive Elliott Commentary for EURUSD (Daily) on 21-Jun-2007 with two incomplete patterns:

Wave (C) of the Intermediate degree inverted Flat with a rating of 100.4 is expected to complete in the price range 1.3392 to 1.3746, but more probably between 1.3469 and 1.3664. This wave is due to complete anytime from now until 13-Jul-2007, but is most likely to complete before 30-Jun-2007.

This wave (C) will complete the Flat pattern.

This is the final wave in the pattern. When complete it will also complete wave X of the Primary degree Double Zigzag with a rating of 91. These two waves have the same target ranges.

After wave X is complete, expect the market to continue down into wave Y, which should be a three wave Zigzag pattern. Expect wave Y to retrace wave X by 164% - 353%. Wave Y can also be expected to be 103% - 353% of the price length of wave W. The expected time for wave Y to complete is 65% - 239% of the time taken for wave X to complete and 99% - 299% of the time taken for wave W to complete.


Current Analysis Settings:
Analysis Date Range: 02-Jan-2007 to 21-Jun-2007, Label Range: 7 - 30, Preferred Count Labels: 20, Min Rating: 75, Stocks toggle OFF, Bias Towards Beginning of Data: 8, Bias Towards Major High/Low: 8, Largest Degree Wave Filter: Any Pattern

Analysis were made using the Refined Elliott Trader software
http://www.elliottician.com/product-information/the-elliottician-system.html
 

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