Market is not moving much at the moment, so our major view remains unchanged. We are still tracking commodity pairs such as AUDUSD and NZDUSD that may see more weakness this week, while gold stays under pressure. There is also a stock market still in bullish mode which may see more upside this week if we consider triangle possibility on Dax.
NZDUSD was one of the...
USDNOK is unfolding a nice bearish leg, which we see it as blue wave one and now wave two in the making. We can see first wave one fully unfolded, so upcoming reaction higher can be the following wave two that may later search for resistance near the Fibonacci ratio of 50.0 or 61.8 and make a new drop lower.
Disclosure: Please be informed that information we...
Price turned sharply higher in the last couple of trading sessions on EURUSD and breached nicely above the first swing high of wave iv) at 1.1777 level. We see current rally as an early evidence of a completed three-wave correction and a minimum three-wave recovery to be in progress. That said, once first wave i) finds a top a new temporary correction into the...
BITFINEX:XRPUSD
In the days leading up to the end of August, XRP showed great promise with prices rallying toward a high of just under $0.3. That uptick was accompanied by strong volume only to see a significant pullback and by the mid of September the price had seen a 100% retracement from $0.3 to $0.14. This situation left a lot of disappointed bulls who'd...
After having an excellent performance, LISK fell like so many other currencies in a red week.
Gradually and if the volume helps we will see our LISK at the levels reached and hungry go for more.
GBPJPY is trading in a potential three-wave decline, labeled as a-b and c. We see waves a and b completed, which means current intra-day drop lower can be wave c. Ideally wave c will now reach even lower levels and later search for a base near the middle or lower channel line. The Fibonacci ratio of 100.0 can also act as a region of support and push price higher.
Daily view:
Gold can be trading in a big, sideways price action known also as a triangle correction. A triangle correction is a complex pattern with five legs, with each leg having three more sub-waves. On the daily chart of Gold we see price now trading at the start of leg D) of this triangle pattern and can search for a base near the Fibonacci ratio of...
