The US Dollar Index is looking to make a bearish push to the orange box to finish the complex W-X-Y corrective structure. After the corrective structure is finished look for the Buy set up for the Dollar to make higher highs in the Bullish tremd
The USDCAD H4 chart shows that the rally from 1.32499 to the top at 1.34501 is an impulse Elliot Wave structure. It has since made a deep corrective structure in wave "ii" which seems to have completed and unfolded as a zigzag pattern.
Wave "ii" terminated at 78.6 Fib ratio of wave "i" and also last daily price action closed as bullish pin bar at...
The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern.
The weekly chart of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory.
Since April 2015...
I'm no expert in Elliott Wave theory but it just occurred to me that one of the main rules of Elliott Wave theory is that wave 3 cannot be the shortest of the three impulse waves. This means that wave 5 ended at 0.28 in February. If wave 5 is still in motion then that means wave 3 is the shortest wave, which would totally invalidate elliott wave theory. So based...
This pair looks like it may still be heading lower. At the moment, we'll watch for a retracement to the .50% - .618% region of the fib levels.
If price does not break above the .618 fib level, watch for a confirmation candle to short this pair to 0.67600 - 0.67500 price level.
This idea will be invalidated, should price push above the .618 fib level.
The AUDNZD made a bullish rejection candle at a double bottom level on a weekly support zone.
This pair is currently building a major Elliot Wave triangle corrective pattern after a major five-wave bearish impulsive move.
According to Elliot Wave principle, a triangle consists of 5 corrective waves (ABCDE). AUDNZD has already completed the wave...
The EURNZD seems to have completed a minor ABC zigzag correction within a major ABC zigzag pattern.
The price is currently reversing from a key support level and has the potential to move up towards the ascending channel resistance.
We will wait for the price to trade above the blue Counter Trend Line with a five-wave impulse, and then we will...
Illustrated before you is the full Elliot Waves Count and analysis on UC
As we can see, price has been bullish within a channel since last year.
Price has made a hard corrective impulse to test support of trend channel.
Wait for confirmations during this week before entering LONG
Impulsive Wave (v) could be in preparation!
Best of luck
Good morning, traders. I hope you are enjoying the holidays and had a great time with friends and family yesterday. I am still battling these cedar allergies, so we will see how long I can keep the live stream going this morning. The last analysis I wrote had us working on wave 4 as a running flat as well as a re-accumulation without a Spring. Since that time,...