corrective-impulsive

ew-forecast ew-forecast PRO XAUUSD, 240,
XAUUSD: GOLD Is Trading Within A Temporary Correction
1322 8 27
XAUUSD, 240
GOLD Is Trading Within A Temporary Correction

Gold turned sharply lower then past week from 1295; clearly in impulsive fashion so it appears that metal is headed into much deeper levels within a correction of a higher degree. On the updated chart we are looking at A)-B)-C) decline in progress down to 1258 area, or possibly even back to 1245 before market may look for a new bounce; most-likely at the end of ...

ew-forecast ew-forecast PRO GBPUSD, 60,
GBPUSD: GBPUSD Trading Lower; More Weakness In View
951 0 27
GBPUSD, 60
GBPUSD Trading Lower; More Weakness In View

Cable is on the move, now making a strong decline down from 1.2750 following a completed corrective sub-wave 2. Current leg down is strong so probably an impulse that can broke below 1.2630 which may be a very important breakout based on a higher degree trend. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment ...

ew-forecast ew-forecast PRO AUDUSD, 30,
AUDUSD: Elliott Wave Analysis: AUDUSD Looking Higher Into Wave Five
416 1 18
AUDUSD, 30
Elliott Wave Analysis: AUDUSD Looking Higher Into Wave Five

Current correction may only be temporary, as we see it as blue wave iv, which means we expect one more push up to follow into blue wave v of 5. Drop below 0.7500 would likely indicate a completed rise, thus a larger decline can be seen. Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is ...

ew-forecast ew-forecast PRO BTCUSD, 240,
BTCUSD: Elliott Wave Analysis: BTCUSD Can Be Trading In Final Wave Five
1533 12 23
BTCUSD, 240
Elliott Wave Analysis: BTCUSD Can Be Trading In Final Wave Five

Bitcoin is unfolding an impulsive pattern to the upside, which means that red wave 4 correction has ended around the 1800 mark. We now see a five wave impulsive movement which unfolded in black wave 3 and found a top near the 3000 level. Wave 3 can so be completed and recent pullback could represent black wave 4 correction. That said, if wave 4 correction is ...

ew-forecast ew-forecast PRO EURUSD, 30, Short ,
EURUSD: Elliott Wave Analysis: EURUSD Undergoing An Intra-day Reversal
1150 2 26
EURUSD, 30 Short
Elliott Wave Analysis: EURUSD Undergoing An Intra-day Reversal

Decline on EURUSD was no to clear on "bar chart", but on line chart the situation is slightly different and is matching perfectly with Dollar index count above. that said, euro is expected to stay bearish while it trades beneath 1.1000 area, but three wave set-back may show up, to 1.0950 resistance. Disclosure: We do not own any assets or share of the instrument ...

ew-forecast ew-forecast PRO USDCAD, 60,
USDCAD: Elliott Wave Analysis: A Powerfull Reversal Pattern On USDCAD
1786 6 41
USDCAD, 60
Elliott Wave Analysis: A Powerfull Reversal Pattern On USDCAD

USDCAD is moving higher for the last few weeks, but an overlapping price action from the last few days suggests that turning point can be near. The reason is an ending diagonal; it's a special type of Elliott Wave form that causes a reversal in strong manner, but for such case a break below wave four swing near 1.3650 will be needed. Invalidation level of the ...

ew-forecast ew-forecast PRO AUDNZD, 30,
AUDNZD: Elliott Wave Analysis: AUDNZD Trading In Late Stages Of Wave 3
600 1 26
AUDNZD, 30
Elliott Wave Analysis: AUDNZD Trading In Late Stages Of Wave 3

AUDNZD is moving nicely to the upside this week which is seen as wave 3) from April 21st, so we can expect more upside after a fouth wave pullback that can be around the corner. Supports are seen near 1.0806 and 1.0820. Drop below 1.0766 would need a new count.

ew-forecast ew-forecast PRO USDJPY, 60,
USDJPY: Elliott Wave Analysis: USDJPY Taking Off
1433 1 20
USDJPY, 60
Elliott Wave Analysis: USDJPY Taking Off

USDJPY looks to be taking off sharpy in sub-wave v) of three. Well, if that is the case then we may have an extended fifth wave. That said, we believe some resistance may come in around the 261.8 Fibonacci ratio, from where a new corrective decline may follow into bigger wave four.

ew-forecast ew-forecast PRO AUDUSD, 240,
AUDUSD: Elliott Wave Analysis: AUDUSD Trading In A Temporary Correction
522 0 11
AUDUSD, 240
Elliott Wave Analysis: AUDUSD Trading In A Temporary Correction

Aussie turned up last week after better than expected AUD employment data. From a technical perspective we adjusted the wave count as current bounce is part of a minimum three wave recovery since it turned up impulsive in the first part, labeled as red wave A). As such, there will be more upside coming now within an A)-B)-C) structure which may stop near 0.7640. ...

ew-forecast ew-forecast PRO USDCAD, 240, Short ,
USDCAD: Elliott Wave Analysis: USDCAD Eyeing 1.3180 Region
681 1 19
USDCAD, 240 Short
Elliott Wave Analysis: USDCAD Eyeing 1.3180 Region

USDCAD has turned nicely down from 1.3533, clearly with five waves which is a structure of a bearish turn based on the Elliott Wave principle. As such, we now expect even more weakness after recently unfolded three wave bounce from 1.3262 that is pointing lower into wave three. We think that 1.3262 is going to be broken this week from where market may see a drop ...

secrets2trade secrets2trade PRO GBPUSD, 60,
GBPUSD: GBP/USD Lower Again?
89 0 8
GBPUSD, 60
GBP/USD Lower Again?

Hey guys, We expect the market to make one leg lower to around 1.2350, BUT only when the market stays below the high 1.25601. When this level breaks we will be looking at a move higher to around at 1.2700. Lets see! Hope that helps. Cheers

ew-forecast ew-forecast PRO USDJPY, 60,
USDJPY: Elliott Wave Analysis: USDJPY Intraday View
989 8 25
USDJPY, 60
Elliott Wave Analysis: USDJPY Intraday View

USDJPY is displaying qualities of a triangle correction in wave 4, which could be as of current intra-day drop completed. We see price trading around the 110.77 level which could be wave two as part of a five wave drop within wave 5. That said a decisive drop beneath the 110.24 level will suggest lower levels to follow.

ew-forecast ew-forecast PRO CADJPY, 30,
CADJPY: Elliott Wave Analysis: CADJPY Could Be In For A Reversal
530 0 13
CADJPY, 30
Elliott Wave Analysis: CADJPY Could Be In For A Reversal

As you might know, we are looking higher on stocks based on Elliott Wave structure after only three waves of decline on E-mini S&P500 from 2400 highs. So more upside on stocks is normally bearish for Japanese yen, in risk-on environment. At the same time we see Oil prices in bullish mode as well which can be supportive for the Canadian dollar. What all that said, ...

ew-forecast ew-forecast PRO EURUSD, 240, Short ,
EURUSD: Elliott Wave Analysis: Bears On EURUSD Taking Charge
1100 0 21
EURUSD, 240 Short
Elliott Wave Analysis: Bears On EURUSD Taking Charge

On the updated count of EURUSD we see price trading south following a completed a zig-zag correction, that was in progress since start of the year. Current reversal is strong and clearly impulsive, thus an important sign of a top in place, meaning a minimum three wave reversal to the downside may start to unfold but ideally that's a start of an impulsive drop in ...

ew-forecast ew-forecast PRO DXY, D, Long ,
DXY: Elliott Wave Analysis: USD Index Looking Up Into Wave 5
801 0 25
DXY, D Long
Elliott Wave Analysis: USD Index Looking Up Into Wave 5

We see price trading in a three wave correction in wave 4), with recent drop being the final sub-wave (C) of this correction. This correction will ideally unfold as a simple zig-zag pattern, that will find some support around the lower channel line and bounce higher into wave 5).

ew-forecast ew-forecast PRO AUDUSD, 30,
AUDUSD: Elliott Wave Analysis: AUDUSD Trading In A Temporary Correction
945 2 27
AUDUSD, 30
Elliott Wave Analysis: AUDUSD Trading In A Temporary Correction

AUDUSD is trading in a correction of a higher degree, with current rally being part of wave C of 2). That said the mentioned bounce may find some resistance around the 0.7648 or if rally is stronger around the previous wave 2 at the 0.7684 level. Either way, we see this pair going to the downside in the next couple of days.

CroomFX CroomFX USDNOK, W,
USDNOK: USDNOK Elliott Wave Application (feedback appreciated please.)
29 0 5
USDNOK, W
USDNOK Elliott Wave Application (feedback appreciated please.)

I was reading over the weekend and really trying to understand how to identify inner waves of the larger Wave to get a better idea of structure inside of waves. Another area of learning for me was the correction waves, going over simple and complex and that brings me to this example here. As we are coming off a large 5- Wave completion, we got a ABC correction ...

ew-forecast ew-forecast PRO USDJPY, 240,
USDJPY: Elliott Wave Analysis: USDJPY Trading In A Zig-zag
457 1 24
USDJPY, 240
Elliott Wave Analysis: USDJPY Trading In A Zig-zag

As of recent breach beneath the sub-wave B swing of B), we modified our wave count and are now looking at a simple zig-zag correction of wave 4-circled, that is being made. That said, current breakdown may be part of wave C), that may extend its weakness towards the lower corrective channel line, ideally towards the 161.8 Fibonacci ratio.

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