DanV

DanV

Of the April low it seems GBPUSD have moved up in abc configuration and formed intermediate top around 1.56. Since it has retraced in abc move down which could bottom around 1.5. If so then it has the potential to surpass the last high at 1.56. The anticipated move up in GBPUSD could also fit in well with my view on DXY. See published chart for details, here is...

DanV

When I last published this chart some 5 months ago, the price was around 1650 where you see I pointed that with an arrow with comment critical. Well , that broke and then the minimum 1500 retest was was done with such momentum that it even went through the 2nd target of 1400 which was AB=CD move shown on chart. Now it seem to be that the 50% retracement of the...

DanV

From my previous chart on EURUSD you will note that whilst it has been confusing and experience normal or on occasions little deeper than anticipated pull backs along the way, I am remaining bullish on EURUSD from longer term perspective. I am using my longer term analysis of the Dollar Index fort this bias. If I am wrong on my analysis of Dollar Index then I will...

DanV

Earlier I felt that the April high was the top I was looking for, however, after retracing it went on to make new high last week. This has RSI divergence from July 2012 high and current high, also with April 2013 high and the last high and what appears to be slightly higher high recently on Daily time frame. So potential triple divergence could at least markt...

DanV

Last chart expected to hit 100 well before we started that move and went on even higher. I am republishing this updated chart where intermediate swing trader could possibly find short entry around 102 to 100 for area. However, I think it is safer and possible more profitable to look for long entry. That will develop once we have a partial retracement of the last...

DanV

When I published this chart for potential bottom aroun 460-450 area to look for long entry after it gapped down following earnings announcement in January, the was no real bullish movement and hence not the trade I was looking for. However, if any did enter would have at least made small profit or break even. However now it is possible to entertain potential long...

DanV

Whilst EURUSD has been declining since Feb 2013 high and has been in down trend since, it does not seem to be over yet. Regardless of the development of the Cyprus and EUROZONE development, based on EW count the Dollar index needs to make a final leg up to complete the cycle suggesting that EURUSD for the coming week is likely to be weaker and could form low...

DanV

Recently the representative of the Ministry of Finance has publicly stated that they need to show to the world that they are serious about doing whatever necessary to fight the deflation or something to that effect. In their view this would be seen as successful by JPN225 reaching 13,000 or so. That would have been about 13% higher than where it was when they made...

DanV

Like many of the Stocks which made their all time high in 2007 then declined into 2009 low in 5 waves making first leg down Wave "(A)" are since retracing Wave "(B)" up and due to general positive market condition could make deep retracement or even overshoot 2007 high in expanded Flat. Boeing is also from 2009 low has completed what I believe is Wave "A" high in...

DanV

There are many cross currents both political & economical to really form a accurate view on longer term as to where EURUSD will head. Good augments could be made why EURUSD should drop to parity or even lower. However, I am ignoring all that and consider price charts only. If my view turns out to be wrong it would be completely wrong and will review it at point...

DanV

I have publish my view on GBPUSD and whilst at the time when is was published it proved to be little too premature, I think it is still valid. The GAP down open last weekend on GBPUSD I think formed the bottom like climax selling and which has held for whole week. Smaller time frame price action suggest minor 1 & 2 waves are nealy complete with new upward...

DanV

Longer term I am still very bullish on the EURUSD, you can check my general view on previously published chart at this link:- . However in the short term the price action are difficult to anticipated. Nevertheless EURUSD has retraced little more that 38.2% of the July 1012 low to Feb 2013 high and is at Jan & Feb 2012 support level. On Hourly has...

DanV

Since the 2012 top, it appears that AUDCAD has move sideways in what could be a Flat Correction. If to then we have waves (a) and (b) almost complete and are both abc zigzag. That would suggest that the Wave (c) of the Flat correction just commenced or will do so shortly will be strong 5 wave decline. Risk is relevantly small and can be initiated using smaller TF...

DanV

Some say, NZD is new Gold and others feel that the New Zealand's Economy is strong and more towards dairy and agricultural produce and less reliant on mining commodity, hence the Bank of New Zealand will raise the Interest Rate, in turn that would be more supportive of NZDUSD continue to trend to the upside. Last week Government Representative said that he sees...

DanV

Strong move of the low defined by clear sharp rising narrow channel still continues to contain the USDJPY but is now approaching and intermediate top in the area around 94. The a noticeable correction is likely to take place in the for of wave 4 in the current cycle before continuing higher. Whilst counter trend trade might be possible by shorting around 94, I...

DanV

GBP has been relatively very weak since the start of this year and almost looks like it is in free fall. There are many analyst and commentators are pointing to GBPUSD which appears to have formed a symmetrical triangle with suggestion that it is "doomed". They many well be right. However, whilst accepting that it is at critical level, I am reluctant to agree with...

DanV

In our last chart we achieved our upside target, though I did not trade long as I indicated I have never traded this pair. However, due to the chart formation with what I think is rising wedge formation, ie Ending Diagonal that lines up with declining long term trendline, at fib ration confluence and with my view on Dollar index published little while ago - chart...

DanV

If you have seen some of my other charts and in particular EURUSD chart you will note that I do have overall bullish bias over longer term for EURUSD and correspondingly Bearish view for the Dollar. So much so that EURUSD could very well retest its all time high and Dollar index could plumb to new low. That aside I was alarmed at what I noted in the Dollar index...