Like some kind of triangular madman went haywire with his ruler, patterns galore appear before us in this pair! How to make sense of it all? They seem to be all kinds of ways and giving conflicting directions! Well, yes. They are giving conflicting and confusing signals here and would seem to be useless in helping to determine what to do now...if you only looked...
Last week, the Kiwi hit the top end of a target range we have been watching. How much, if any move is left? On the heels of the RBNZ 25 basis point rate cut today, some cracks are beginning to show up in the NZDUSD foundation. Governor Wheeler suggests this is it regarding cutting for a while and prices have rallied today. 6680 may provide resistance in the...
In my last chart I suggested that a possible ending diagonal might have form a low above 1.08350 which failed hence the flat correction of 3-3-5 in now ruled out. However the overall larger time frame picture is not changed much in that since the May high price action is correcting the move of the March low and is not a resumption of bearish cycle. The main...
This bullish CRAB pattern that I had mentioned in my previous post (see Related Idea: EURUSD: Top Down In-Depth Analysis - Bull BAT and CRAB Pattern) was quickly completed today upon the opening gap down. And now, prices have bounced from the PRZ of this CRAB putting in a nice pin bar within the PRZ. Don't overreact to this gap down as being any kind of...
Spent several hours analyzing this pair for what's happening both short and long term. IMO, my analysis reveals that prices are heading towards a strong support zone area around 1.11000-1.10000 with a confluence of factors lining up around that support zone. Before I go into detail about those factors, let's take a look at what's happening overall from a top down...
EURUSD has been in correction after big decline. The first correction was a Flat one 3-3-5 where I thought the market would reversed and make a new low.. however, the decline was just in 3 waves a zigzag and from there a rally in 5 waves can be seen.. Which creates a scenario of a W-X-Y correction.. Flat(W)-Zigzag(X)-Most likely zigzag(Y) having a 5 wave count as...
We assume that wave B will be a Double Zig-Zag, because of its three wave structure in wave (w) and now wave (y). The price may reach the Fibonacci level of 0.5. After wave B is completed, we are expecting more weakness ahead in wave C.
In my last published chart some 2 months ago following the spike low around 151, I made provisional adjusted to the wave counts to reflect the price action still suggesting that the bearish cycle is still in action and has further to go. The reason for this was that bounce from 150 - 300 in not in clear 5 waves, rather it is in 3 swing zigzag. Hence, in making...
Since the economy recovery from the 2008 crisis, stock index worldwide are skyrocketing, thanks to quantative easing programs and Zero-Bound Interest Rates. After ending QE, the next big action of FED will be to increase the interest rates, that could cause an end to bull stock market that prevails since August, 2012. Last week most of trade ideas published on...
NBG Long term Chart: I strongly believe we are currently in a corrective wave 2 of a long term wave C pattern that should complete near the fall, end of the year. What I previously thought was an expanding diagonal () now appears to be a double zig zag corrective wave 2. If A=C in the corrective zig zag, then we can retrace as far as 2.95, but using...
In perfect concordance with the final channel if we count this movement as a wave 5)) an impulse with its 5) extended we can assume that the actual decline phase could be the first wave reactive to the last rally started since 0.8129 and now we can expect be around this area for the next few weeks because the nature of this correction due the alternance guideline...