Bearish Outlook :
The Friday’s close below 1.10980 eliminated the interpretation that allowed for a bullish potential in short term.
The outlook in daily frame remains bearish through 1.04806, in anticipated Minor-degree third wave of the wave (C) underway.
Bearish Outlook :
The last week’s persistent decline and closing below 1.1097, indicates the Euro’s bearish stance in an Intermediate-degree trend (as the wave (C) of Primary wave Y).
The expected target for the decline in wave (C) is around 0.95318, where equals 0.618 times the length of the wave (A) of the same degree.
Bearish Outlook :
The Crude’s trend remains down in third wave of Minuette-degree wave (v), through the determinate target at 38.29, where the wave iii equals 1.618 times the length of wave i.
With respect to this bearish count, the decline of wave (v) will ultimately draw the price below the August 24 low at 37.75.
Bullish Outlook :
There is no change on this daily frame, Gold has continued to correct in fourth wave of Minuette-degree wave (iii), prior to the start of its fifth-wave up to new high.
The bullish outlook to the 1255 area still is in place, while price holds above 1153.5.
Bearish Outlook :
The strong rally day in U.S. Dollar should have ended the running triangle as the Minor wave X at the extreme point of 96.42, prior to the start of the next Minor-degree decline in wave Y.
Any break of wave c (circle) would negate the bearish triangle-pattern shown on the chart, since wave e (circle) cannot move beyond the wave c (circle) extreme.
Bullish Outlook :
Gold has corrected a part of advancing in Minuette-degree wave (iii), prior to the start of the next wave up to new high.
The bullish outlook to the 1255 area is in place, while price holds above 1156.5.
Trend Reversal :
After the bullish ending diagonal in Intermediate degree, unfolding five overlapping waves to the upside, as a leading diagonal in lesser degree, indicates the Silver’s medium-term trend may have turned up.
According to the Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.” Hence, correcting through at least the 50 percent of leading diagonal (wave 1) is expected.
Based upon these bullish structures it’s anticipated the August low at 13.93, as a significant extreme, remains intact in medium term.
Bearish Outlook :
The Crude’s decline remains the early stages of third wave of Minuette-degree wave (v), after a 38 percent bounce in the second wave. The expected target for the wave iii is around 38.29, where price will likely achieve the 1.618 times the length of wave i.
With respect to this bearish count, the decline of wave (v) will ultimately draw the price below the August 24 low at 37.75.
Bearish Outlook :
On the U.S. Dollar’s corrective trend since the March 13 high, another viable possibility which may be respected is that the Minor-degree wave X (as a running triangle) remains in its very late stages, prior to the final decline in Minor-degree wave Y.
Based upon this bearish case, the upside target for extreme of the wave X is around 96.33, and ultimate target for the overall correction is estimated at 91.85, by the end of year.
Bearish Outlook :
On the U.S. Dollar’s corrective trend since the March 13 high, another viable possibility which may be respected is that the Minor-degree wave X (as a running triangle) remains in its very late stages, prior to the final decline in Minor-degree wave Y.
Based upon this bearish case, the upside target for extreme of the wave X is around 96.33, and ultimate target for the overall correction is estimated at 91.85, by the end of year.
Elliott Chart 