I'm expecting USD data to be expansionary and for the Fridays Baker Hughes rig count to increase ,lowering the price of oil and pushing the USD up against an oil currency the Norwegian Krone.
Potentially a long setup. I'm not happy with that iv count, but it could be a market distorsion. Big up.
Long term outlook. Now wave 5 starts of (c). Short target around 1.00159 and then long towards 1.23043.
NZDUSD ready to retrace the correction starting late 2015 with the zigzag abc's My DXY (dollar index) wave count seems to have more upside to it as well all in all a good elliott wave trade, trade safe and read short time period price action
Hello, I am in this trade since 0.7400 looking at price action for two days now seems to comply with the Elliot Wave Theory. I think the 5th wave is a great signal and 0.7500 held as great resistance in the past...if it holds again it will form a head and shoulders pattern and most probably a new downtrend. Thank you
Look at this chart of the USDJPY with weekly candles. It would make sense to at least surmise that there is a temporary top in place. Should we be looking to go long? or short? Below 116.00 should confirm the top for now. The price action from Feb 2nd is twice the average daily range. There are many possible Elliott Wave counts on this. 3 in particular that all...
buy GBPNZD and target 2.1836.
Please see the post on my website for commentary on this chart. cryptowaves.com
The EURUSD is firmly pushing against the top trend-line of the triangle. It is unclear if a three wave retracement is still to come before a breakout. And of course a full reversal is not out of the question either. Very important line in the sand here.
Triangle has formed on the EURUSD Creating wave B or X. Triangle relationships tend to retrace .618 of the prior alternate wave. This gives us a good Take profit level. Wave E only has to retrace 50% of wave D to become valid. When that happens, keep a close eye for a entry to a new impulse wave to create Wave C or Y.
A potential technical entry point.
This is a follow up of the last elliott wave analysis published 8 months ago www.tradingview.com The basic change is in the extended 5th. The diagonal as we expected did not work due keep the original wave count as originally stated is impossible due now will see the 3rd wave as the shortest. This can't be even in diagonals. So the best way to update it is by...
The possibility is that the irregular correction (4) of the current down movement is formed, and the possibility is that the market will continue it's down movement towards the 93.5 Area. It means, that there is still a chance to buy some majors against dollar in a short term
The AUDUSD is poised to break below it's support. The last polls shows 5 times more analyst expecting a rate cut of 25bps for the next April 7th meeting than the previous weeks. 78% chances for rate cut priced by the Mkts (Rtrs). Even when previously have more preference for the gray wave count, the break below the wave ii (gray) discard this idea and places more...