AUDUSD is trading higher with a sharp impulsive manner that already took out 0.7280 swing high. It suggests that leg from 0.6936 is impulsive so we need five waves up. For now that's not the case yet so uptrend will continue after three wave set-back in blue wave (iv) that can find a support around 0.7240-0.7280 this week. www.ew-forecast.com
On the Daily chart of GBPCAD, price made a three waves retracement to the downside, after price made a top at 2.0972. That said price may continue higher after, red wave (c) is completed at around 1.970 - 1.978 area. Our previous updates on this Pair :
On the 2h chart of NZDUSD, we see a nice looking structure from 0.6237 area, from where price took off. We are now tracking black wave three, that could reach 0.6700 area, when completed. Price usually makes a corrective recovery, after a five wave structure, and that is why price is now trading in a blue wave 4-circled pullback. The pullback in blue wave 4-circle...
On the 4h chart of NZDUSD, we see a nice looking structure from 0.6235 area, from where price took off. We are now tracking black wave three, that could be in final stages, as we already see a five wave structure from 0.62878 area. That said we may see a temporary pull-back in black wave iv, that may go to the area of previous blue wave 4-circled, where price...
On the Daily chart of GBPCAD, we see a nice bullish cycle from April lows. It looks like trend made a top as in red wave (v) and now we expect the price to make a three wave retracement. Red waves (a) and (b) seems to be completed, because of a sharp fall to the downside into a red wave (c), which should have an impulsive structure, that means five waves down,...
On the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may...
On the Daily chart of Sugar, price is trading in a three wave action. We are more and more viewing this three wave action as a new bullish cycle, because of a broken upper channel line and a very sharp action in current wave (iii) . That said price could be facing a correction in blue wave (iv) in days ahead before market will continue even higher within impulse....
EURUSD fell with five waves from 1.1460 which is important bearish evidence for even weaker EUR in days ahead. The reason for bearish view is also a broken channel from 1.1084 which means that trend is down. That said, current rally from 1.1104 is probably just a correction within ongoing weakness; maybe it's even wave (2) so strong sell-off can be seen into wave (3) soon.
If we are in wave C, The price(1.166-1.18) and time(2015-09-14) area is very important. So I put the possible MACD is drawn in the chart. If an option as shown in the chart, the point C is a good short point.
We see AUDUSD moving sideways around 0.7300 level, which we see as a temporary pause within ongoing downtrend. Keep in mind that we are tracking blue wave 5-circled, which is a motive wave, so we need five waves down from 0.8160. That said we expect new low soon, probably around 0.7000. www.ew-forecast.com
Dollar is bullish when compared to Turkish Lira but we see move out from a triangle in wave (iv) as shown on the 2h chart, which means that uptrend can be in final stages to complete wave 5-circle on a daily chart. Ideally near 2.8800-2.9000. So for the short-term traders there can be still some room for longs after coming black subwave iv. www.ew-forecast.com
EURAUD is moving impulsively from 1.47279 area. It has already made four waves up, with red wave 4-circled in final stages. We may now see a reversal to the upside into red wave 5, targeting levels around 1.5400 - 1.5450. We will be looking for this move higher as long as price trades above the area of red wave 1-circled. www.ew-forecast.com
Corn has been trading bearish since 2012. It has made five waves down and a three wave retracement as in blue waves (A)-(B)-(C). We are now waiting for price to break the corrective channel. When price brakes the channel line, the bearish cycle may star over again. On the Daily chart we see blue wave (C) as completed, because of a sharp impulsive movement to the...