NZD/CAD is also in a period of consolidation, looking for a breakout of the corrective structure to the downside. My long term bias is this is a bearish pair and will look to enter short on the breakout.
USDCHF is in a strong uptrend that can continue soon as price action in the last 24 hours looks very slow, so it's probably a corrective wave four that is now pointing higher into wave (v) of three. We think that pair can reach 0.9940-0.9960 area before market turns down for a higher degree correction.
If it breaks the upper trendline wait for the correction and buy If it breaks the lower trendline wait for the correction and sell
If it breaks the correction, wait for a consolidation and then buy
Hey traders! I want to buy the ((c)) wave after this potentially completed sideways correction. I'll be looking for bullish impulses off of the bottom barrier as expected by a C wave. Tight stop is placed just below bullish pinbar, and TP set to A=C level. After target 1 is reached, stop will be moved to breakeven. I will exit, even in profit, if the trade...
On the USDCHF we are looking at higher degree corrective move, that consist out of three waves A-B and C. As we know waves A and C are motive waves, meaning each have five sub-waves and wave B is a corrective wave, meaning that price usually slows down when in the middle of a wave B correction. In our case this wave B correction seems to be a triangle, a complex...
A quick update on the big picture for Oil. In short, I suspect a false breakout and $11+ reversal is around the corner. Bulls beware :)
GBPUSD has reached to possible EOW-5 price target, and is likely to begin a major bull correction if it takes the previous bar high, as the momentum has made a bullish reversal.
Bearish Alt. AB=CD Harmonic Pattern Wave 5 is ending and a bearish correction is coming RSI Divergence indicating a possible bearish move is coming According to Volume Spread Analysis , Sign of weakness are appearing in the upthrust bar and the no demand bar Sell The breakout after the retest
Looks like USDRUB is in a larger corrective move. Therefore another drop is pending. C=A = 41.75
Silver broke beneath 18.30 level but higher degree charts still show a three wave decline from above 21.00 area. It's a correction within ongoing uptrend that will be expected to resume later this year. We see room for current wave C to 16-17 area where market may look for a support.
The pair has been testing the 1.4580 level for 4 times without being able to penetrate it. The last reaction was pretty forceful followed by a corrective structure. If this structure holds and we see a retrace back into the bottom I am willing to go long, targeting 1.4760 as a primary target and 1.4850 as a secondary one. Since we are in a ranging environment...
It seems the pair is going to be bearish this week
EURUSD make a new lower low even lower we expected earlier as our TP2 was 1169 correction now could end at 1185 or 1200 then will start on the last low or 5 wave or last leg Next sell will be from the next high
Bearish wave IV is in progress as an ABC ZigZag , Currently The bullish AB labelled by red box Wave is forming
Correction forming underneath a strong resistance zone. Will be going short on a pullback to 0.9670, targeting 0.9655 primarily. Extended targets are 0.96350 & 0.9595.