Technical Analysis

By: Bjf Trading Group  09-12-2011

Forex Elliott Wave explanation


The basic variant of the account of Elliott Wave Forex Technical Analysis is designated on offered marking by letters and the numbers painted in various colours (brown, green and dark blue). Letters and numbers have various size of a font: smaller wave level is designated by a smaller font size, the senior wave levels are designated by the big font size. All letters and the numbers designating Elliott Wave levels, within one variant (the basic or one of alternative) place vertically one over other on increase of wave level.
The sign (?), standing near to a Elliott Wave, designates that at present time there is a probability of final completion of the given wave (and the beginning of a wave of the same wave level in an opposite direction), or end only of a subwave (wave of smaller wave level), and shortly it is necessary to expect the wave termination.
The sign (..), standing near to a wave, designates continuation formation of this wave.
Alternative variants (Alt.) are designated on offered marking by letters and numbers of grey colour. All alternative variants are marked by a sign a star (*) and given as probability of their realisation:
* - an alternative variant first on the importance,
** - the second on the importance an alternative variant etc.
Alt. pivot designates level after which it is necessary to pass to one of alternative variants of the account of waves
For trade it is important to understand that all variants are traded, a direction of movement of the price, as a rule, on a short space of time is identical, alternative variants help to expect change of fractals (waves) in a near-term outlook.

EURUSD -Forex Technical Analysis

Mon Aug 8, 2010 11:40 am. | Written by EWA-serfer

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Weekly Market Review Mon Aug 8, 2010

The Japanese yen was supported as a safe haven currency on the back of the negative US data. The American dollar dropped to its yearly minimums of Y85.32 against the yen.
The release of the optimistic US fundamentals during the Wednesday’s American trading session rendered support to the greenback. In particular, the ADP employment for July grew for 42K, when the forecasted growth was at the level of 33K. The ISM non-manufacturing composite index also increased to 54.3 while the predictions were at the level of 53.0.
On Thursday the European Central Bank announced of its decision to leave the principal rate at the previous level of 1.00%. The market participants’ expectations of the reduction in the US Initial jobless claims publication on Thursday supported the American dollar, and the EUR/USD pair decreased to the $1,3120 range.
According to the expectations, the Bank of England left the principal rate unchanged at the level of 0.50%. The GBP/USD pair continued to trade a little below the maximums of $1.5924 level.
The released on Wednesday New-Zealand unemployment rate showed unexpected growth to 6.8%, while the forecasted increase was only to 6.2% from the previous volume of 6.0%. As a result, the national currency rate dropped considerably on Thursday, since the probability of the principal rate increase by the Reserve Bank reduced.
The negative publication of the Initial jobless claims reinforced concerns over the rehabilitation of the American economy. The published statistics showed unexpected jobless claims growth to 479K compared to forecasted 455K. European stock markets dropped as all financial markets were under pressure. And the released US fundamentals increased the demand for the Japanese yen, as a safe-haven currency.

EURUSD -Forex Technical Analysis

Mon Aug 1, 2010 11:40 am. | Written by EWA-serfer

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USDCAD -Forex Technical Analysis. Point and Figure FOREX Charting (P&F charting)

Mon Jul 26, 2010 11:40 am. | Written by Mario D.

This week, US data and the European bank stress test results stole most of the headlines. Canada has quietly seen their currency strengthen towards the lower part of its' recent range. Tuesday saw an increase of 25 basis points on their overnight rate. Canadian Retail Sales and Consumer Price Index printed below expectations, but the currency benefited from the stabilization of commodities. While the outlook for future rate hikes is dismal, the Canadian economy is significantly in a better position than the US.

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EURUSD -Forex Technical Analysis

Mon Jul 19, 2010 11:40 am. | Written by EWA-serfer

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NZD/USD -Forex Technical Analysis. Point and Figure FOREX Charting (P&F charting)

Mon Jul 19, 2010 11:40 am. | Written by Mario D.

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EURUSD -Forex Technical Analysis

Mon Jul 5, 2010 11:40 am. | Written by EWA-serfer

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AUD/USD -Forex Technical Analysis. Point and Figure FOREX Charting (P&F charting)

Mon Jul 5, 2010 11:40 am. | Written by Mario D.

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EURUSD -Forex Technical Analysis

Mon Jun 29, 2010 11:40 am. | Written by EWA-serfer

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EURUSD -Forex Technical Analysis

Sat Jun 19, 2010 11:40 am. | Written by EWA-serfer

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EURUSD -Forex Technical Analysis

Fri Jun 12, 2010 5:40 pm. | Written by EWA-serfer

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EURUSD -Forex Technical Analysis

Sat May 31, 2010 5:40 pm. | Written by EWA-serfer

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EURUSD -Forex Technical Analysis

Sat May 22, 2010 5:40 pm. | Written by EWA-serfer

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EWA-serfer publishes Elliott Wave Forex Technical Analysis every weekend.

The information in this article was current at 06 Dec 2011


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