USDTRY keeps trading higher, as expected following recent three wave set-back down in wave (B). We see current leg up moving in impulsive manner so uptrend is expected to continue higher into wave (C) towards 3.0000.
Our past updates on this pair :
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USDTRY bounced nicely in the last few session from 61.8% Fibonacci support and out of a downward channel that suggests more gains in sessions ahead. Todays close around current levels or around 2.9000 will suggest a continuation up to 2.9800-3.0000 area in coming days.
Our past updates on this pair :
USDTRY hit 61.8% Fibonacci level recently from where price is now turning up so this can be an early start for a new impulse wave up back to 2.9400 in days ahead. Invalidation level remains at 2.7557; as long this low is not taken out we are looking up.
Our past updates on this pair :
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On the 4H chart of USDTRY we see a completed first leg as in red wave (A) of a bigger three wave correction that started from 2.7573 low. That said we are now tracking a three wave movement in red wave (B) that seems to be in final stages and could be completed in session ahead. We may expect a reversal to the upside at 50 or 61.80% fibo. level of previous five...
GBPCAD made a nice three wave decline to 1.9900 level that looks like completed corrective pullback. The reason is recent recovery above 2.0200 which can be a new bullish impulse that is headed back above 2.0340 and then even towards 2015 highs.
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On the 4h chart of USDTRY we are tracking the first leg of a three wave retracement in blue wave B-circled, labeled as red wave (A), that could be completed in session ahead as price is now trading in black wave 4. The Correction in black wave 4 can retrace to 38.20 or 50 % of previous black wave 3 before continuing higher into wave 5.
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USDTRY has turned sharply down in mid-September that looks like an impulsive bearish reaction; mostly like first wave of a minimum three wave decline that can continue down to one of the former fourth waves around 2.600. But before weakness may resume we expect a three wave bounce in wave B-circled. On 4h chart we see that first impulsive wave (A) is already...
USD Index made a nice pullback into the area of a former wave four, where new swing occurred. Price bounced up from 96.63 that can be end of a wave 2 so we see price now at the start of a new bullish impulse. There is a chance that market will continue up into big wave 3 this month, so dollar could get very strong against the major currencies. Invalidation level...
We expect price to bounce higher in blue wave C-circled in days ahead, because we can identify a three wave decline on the Daily chart of AUDNZD from 1.1428 high, that could be in final stages. On the Daily chart we will get confirmation for a bullish continuation higher when price will move back to 1.0980 level. In that case traders could be seeking long entries...
EURUSD is reaching the short zone which is around 1.1475 to 1.1500 where 61.8% Retracement falls of Wave 1 and Wave A is Equal to Wave C completing the correction within the Channel Lines which is also at the same levels. I would go short at those levels for a Wave 3 down move which will be impulsive and fast. Targets for me are below the previous low and at...
On the Daily chart of GBPCAD we see a nice five wave structure from the 1.8147 area. That means that now we expect price to make a three wave recovery into red waves (a), (b) and (c). Waves (a) and (b) seems to be completed and now wave c) is in the making. Waves (a) and (c) consists out of five sub waves, while wave (b) has only three waves.
That said wave (c)...
