In our last update on 5/23/2015 (see related idea below), we said wave (w) is expected to complete at 1.0623 - 1.066, then buyers should come and push the pair higher in wave (x). Since our last update, current preferred Elliottwave view suggests wave (w) has ended at 1.0646 and pair has bounced as anticipated. Wave (x) is in progress ideally towards 1.077 - 1.08...
Rally to 0.9747 completed wave (X) and pair the has resumed the decline lower. Wave W is currently in progress and unfolding in the form of double correction ((w))-((x))-((y)) where wave ((w)) ended at 0.9589, wave ((x)) ended at 0.966, and wave ((y)) is in progress towards 0.9464 - 0.95 to complete red wave W.
Once red wave W is complete, the pair should bounce...
Economies worldwide slowing down and don't meet their forecast or miss them. Why? There are different explanations. Today I do a quick analysis of AUDCAD, AUDUSD & USDCAD and how I trade them.
As you may or may not know Australia (atlas.media.mit.edu) and Brazil (atlas.media.mit.edu) together dominate the world's iron ore exports.
Iron ore is the basic source...
A complex correction setting the base for a move down to wave Y to complete the WXY pattern. The complex correction should form the basis of primary wave 2. From here there are technical grounds for upward currency exchange rate trajectory.
You may review the following for detailed fundamental analysis: technical-forex.com
Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...
Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...
Following up on the idea I posted this morning, AUDCAD has rolled over nicely completing my earlier prediction. Now it's time to execute the second part of this trade and go from seller to buyer as I look to take advantage of the Bullish Cypher pattern.
Last night I discussed the AUDCAD in a video that I put out for my Syndicate members. We had previously earned some pips on a a bearish Bat pattern, but the market never really ran too far way from this general area.
What caught my attention was the series of higher lows and the fact that we finally achieved a LLLC as on last nights analysis. I didn't have a...
Being Long Australian Dolar proved to be quite good idea from the fall of 2013 till end of first quarter od 2014, we might getting some tips that it's time to dust off that idea. First thing is the "Carry" trade scenario, difference in the base interests rates will support buying Australian Dolar against most other currencies. AUD/CAD looks like an decent pair to...
Friends,
A quick note on this relative strength chart between Gold and Silver. Last October 10th, 2013, I offered a bullish directional idea based on the completion of a pattern of moderate/high reliability, called the "Kiss Of Death ("KoD").
As the pattern play out quite well, so did price action, as it is now ever closer to the targets defined at the time as...
