In my previous chart of EURAUD I was anticipating bullish AB=CD Unfortunately it was premature at the time as It still was in correction mode. Hence that trade will now be delayed. However, in the mean time it could offer interesting shorting opportunity. Most of the details are on the chart but here is the summary of technical to consider as you plan your...
My last 2 published charts (4 & 2 months ago) of EURUSD suggesting potential low could form have been woefully premature. Particularly as the wave 5 became an extended wave which no one could have anticipated following ECBs EQ announcement. However that 5 wave decline now appear close to completion including the 5th extended wave in that cycle. In addition other...
Longer term price projection is dependent on longer term historical price data. On this chart we have history going back to 1968 which is not ideal for what I wish to analyse but adequate to form a view based on a particular theme which I adopted since Sept 2012. Namely that USD has lost over 95% of its value since early 1900 say from 1920. If correct, then we...
NOTE: I am sure there are several economic & fundamental factors at play in this pair as is always the case in all financial instruments. However, I am not considering these and are analysing price chart from technical perspective alone. It is hard to make any long term accurate projections using any form of analysis, so price path illustrated on the chart are...
In my last published chart of NZDUSD under the title "Could Kiwi Run or Fly" almost 3 months a go, what appeared to potential falling wedge in fact turned out to be a connector wave X and which broke down with price accelerating to the downside and USD gathering momentum to the upside. In that post further weakness was not ruled out as at least a retracement...
In my last AUDUSD chart published nearly a months a ago, I suggested that we had the prospect of potentially continuing the bearish mover for possible final leg of this bearish cycle to complete. During that corrective retracement to the upside my initial interpretations of triangle changed to rising wedge and then the anticipated move to the downside unfolded to...
Due to limit in size of comment I will split this in 2 section (apologies) There is much speculation about where oil is headed with some suggestion drop to $20 or lower. Ignoring the Intra-Day charts, variety of charts has already been published here on TV with bullish targets 60 -75 and downside target from 30 - 20. One of the chart suggest that from 2008 high...
Since publishing last USDJPY chart suggesting bearish pull back or correction the price action has been relatively choppy and sideways congestion with associated difficulties in labelling correct counts on each swings. However it appears that with initial zigzag decline in to Dec low, the price action has formed what appears to be bearish triangle which could...
At the time of publishing my last chart and subsequent update to this pair, where I suggested possible significant low to form did not materialise. Due to the nature of decline following ECB's QE announcement, it seems to be still in wave 3 decline. Wave 3 often extends and are very strong. This is what appears to have happen, where the complete cycle was...
Whilst I have shared this spread chart of LTCUSD/BTCUSD several times over the last 18 months or so, I have not directly published this as a main chart. However, as requested by quite few Crypto traders, I feel it is appropriate to so. This spread charts like any ratio charts can help to gauge potential trend change, but it must be used with care. Since what...
In my last published chart of AUDUSD. I suggested that this pair was in progress for developing bearish contracting triangle referred to as 3-3-3-3-3. See the link below for details. However, that formation is now suspect as price has continued to grind higher. Whilst this does not change the overall expectation for this pairs to continue in bearish cycle, it...
In my last published chart I suggested that it was in final down leg of this bearish cycle. Well, as you all know that low was anticipated to form around 240-220 to complete falling wedge. However the price sliced through that to 150 zone. In falling wedge last leg could overshoot due to the fact that wedge is narrowing. But in this case it seems that the...
There is so much going on both in Eurozone specifically and to some extent in USA and this has reflected in short term chart of EURUSD. Though longer term EURUSD still remains in bearish cycle and possibly has 1 more wave outstanding that could result in new low or retest of last low. So making any call on this is likely to be hazardous. It has been perplexing...
Many have been showing lot of interest in this pair so I thought this would be an excellent opportunity to highlight what I think is triangle formation. If correct you offer lots of opportunities to trade whilst triangle is being formed and best trade would be on triangle completion when the prior bearish trend will resume In Elliot wave these types of triangle...
In my previous longer term chart of GBPUSD the low I anticipated did not materialise at the level noted on the chart and the prevailing bearish trend continue to recent low. From the move up from that low , it is nor very clear if that final low has been formed or we will retest that low to form longer term low. However, in the short to intermediate term there...
Our previous attempt to go long did not have follow through hence essentially a scratch trade. However is worth looking at again, hence - below is the updated details from the previous chart. In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on...
This pair has move on ABC zigzag from 2009 low to 2013 high in clearly defined channel. The zigzag appear to be completed and have now started the retracement of the entire move (see weekly chart) In doing so first and second part of the zigzag to the down side are also complete and could be in very early stage of wave C to the downside that should develop in 5...
Many are suggesting that this pair could drop even further and make new lower low and have cited potential bearish H&S pattern and prior strong bearish move to support the idea of continuation of the bearish trend. However I do not feel that this is likely for the following reasons: 1. Having dropped from 2008 high to 2012 low is now in recovery or retracement...