In this webinar we will take a look at some interesting developments on different markets, and where the market can move this week based on price action and sentiment.
Hey traders, This is an update for ETHUSD which is still coming lower with cryptos beeing in a corrective phase. However, three waves down from 2141 can be approaching some key support for bulls near 1680/1700.
So far this year, Cable has made significant progress. However, the fifth wave’s potential for further growth appears limited due to its final leg within a higher degree impulse, as evident on the daily chart. Interestingly, there have been instances of sluggish price movement and overlaps around the 1.23 area. This prompts us to question whether this could be the...
Tesla made nice and clean impulsive five-wave recovery from the lows that is now followed by a three-wave A-B-C correction, which from Elliott wave perspective suggests bigger recovery. Tesla is now coming down into a support as mentioned few weeks back. Looks like wave C is now at the support, deeper one is 140. Invalidation level is at 102.
Broken multi-year trendline support suggests that the Australian dollar will be doing much better than the euro in years to come. Despite recent recovery, we just see it as a corrective rally within downtrend with nice technical multi-year resistance. Looking at the daily chart of EURAUD currency pair, we can see a three-wave higher degree (A)-(B)-(C) corrective...
We see a drop on crude oil from 130 area as a five-wave impulse into wave A that can be coming to an end around 62 - 57 temporary support area. Current strong drop in the 4-hour chart which can be also considered as a spike into new lows, we see as a final wave (5) of A, so be aware of a corrective recovery into a higher degree wave B soon.
Some important Fed's Powell signals a potential end to hikes. - The staff predicted a mild recession in general however, my forecast is for modest growth, not a recession. - A decision on a pause was not made today. -The economy is likely to face headwinds from credit conditions. - Policy is having an impact on housing and investment. If FED is...
In this webinar we will take a look at some interesting developments on different markets, and where the market can move this week based on price action and sentiment.
CADJPY pair is trading nicely as expected for the last couple of weeks. It turned aggressively down with five wave cycle from 110 area. A decline that suggests more weakness but after a corrective rally, as we already shared back on March 27. We know that corrections are made by three waves A-B-C that is now in full progress with already wave C in the making....
ETHEREUM is slow, now still seen in an a-b-c formation with wave B underway up to 1960-2k area where we think coin can turn south once again, as drop from April high to 1800 area can be counted in five waves, as an impulse. As such, a higher degree correction may not end that soon, but it will ideally be from around 1700. I am bullish on crpytos, and think prices...
Complex correction can be in play on Cardano as price breaks the lower side of a channel. Ideally, that's going to be a flat correction, but can be a triangle as well if drop from wave B high will be only in three legs. Support is at 0.35 then 0.3.
US CPI came out better than expected last week at 5.0%, so we have seen some USD weakness at the start of the week, but then all of those losses got erased after FED officials said that there is room for another interest rate hike. Yields turend down, while USD is up which puts some short-term bearish pressure on the metals, that are now seen in a corrective...
Back on March 8th we mentioned and highlighted a bullish setup formation on Solana with ticker SOLUSD, where we were tracking an A-B-C flat correction within higher degree wave (B)/(2). As you can see today, Solana a.k.a SOLUSD bounced nicely from projected support and it's now looking for a bullish resumption within a higher degree wave (C) or (3), which should...
In this webinar we will take a look at some interesting developments on different markets, and where the market can move this week based on price action and sentiment.
Imagine USD recovery, and "no fear" on VIX at the same time Not good combination for stocks IMO, especially when looking the extremes of 2022-2023 range. Calls at the extreme may not be a good thing.
US CPI came out better than expected last week at 5.0%, so we have seen some USD weakness at the start of the week, but then some of the losses got erased on Friday, after FED officials said that there is room for another interest rate hike. Metals also came down, and put some bearish pressure on Aussie as well. The pair has a sharp drop from 0.6805 which...
GBPJPY pair is still at the highs on a daily chart, which looks like a consolidation within uptrend, ideally as a bigger bullish running triangle pattern within higher degree wave (4). The running triangle is a region of horizontal price movement, a consolidation of a prior move, and it is composed of "threes." That means each of the A-B-C-D-E waves have three...
Ripple is making a correction within uptrend, as we see it slowing down in wave 4 from Elliott wave perspective. Ripple with ticker XRPUSD is finally breaking higher in the 4-hour chart in an impulsive fashion. And, now that is back above September 2022 highs, there’s a high probability it’s in wave (3) of a five-wave bullish impulse. Well, currently we see it...