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DailyFX Home /
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Daily Technical Analysis
Elliott Wave Bias Table
| Symbol | Bias | Time Frame | Invalidation | Objective | Chart Links |
|---|---|---|---|---|---|
| EUR/USD | s (5/15) | 1.3028 | 1.2715 / open | View Chart | |
| USD/JPY | flat | View Chart | |||
| GBP/USD | s (5/1) | 1.5450 | 1.5130 / open | View Chart | |
| USDOLLAR | flat | View Chart | |||
| USD/CHF | l (5/6) | .9520 | 1.0100 | View Chart | |
| AUD/USD | s (5/8) | 1.0170 | .9700 | View Chart | |
| USD/CAD | l (5/7) | 1.0080 | 1.0290 | View Chart | |
| NZD/USD | s (4/30) | .8370 | .8055 | View Chart | |
| OIL | flat | View Chart | |||
| GOLD | s (4/25) | 1490 | open | View Chart |
GBP/USD Bears Will Pounce on this Bounce
Daily Bars
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Are you new to FX or curious about your trading IQ?
FOREXAnalysis: Wrote yesterday that “the GBPUSD slipped below 4/23 low but continues to trade around 1.5220, the 50% retracement of the rally from the March low. Expect strength to prove corrective into 1.5277-1.5330.” The top came at 1.5321. It’s possible that a drop below 1.5172 completes 5 waves down before a stronger bounce materializes. Regardless, look lower.
FOREX Trading Strategy: Short triggered at 1.5315 today, stop on that is moved to 1.5325, target half at 1.5130. If taken out at 1.5325 then will look to short near 1.5380 with a 1.5450 stop.
LEVELS: 1.5075 1.5127 1.5173 1.5290 1.5321 1.5384
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