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.
With crude trading at support, with inflation in Japan coming down to 3.3%, with XXX/JPY pairs seen in oversold/extended structures, with a wedge on USDJPY, with five waves down on CADJPY I think it can be time for some recovery. Stocks also hold support for now.
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.
EURUSD reversed sharply to the downside in the last few weeks as USD turns up across the board after new global inflation worries. So far we can see a nice and strong decline on the EURUSD, which for now is still in the making and can be even deeper in three legs (A)-(B)-(C). We still think that pair can complete a higher degree of correction around 38,2%...
Crude fails to break the upper side of a triangle. Nice bearish reversal Daily candle too, similar to ones in the past, calling bears
Silver made strong and impulsive rally since September 2022 till February 2023. A sharp drop in February from 24.50 and break below 22.50 supports suggests that metal is in a higher degree correction. That’s quite strong decline, but due to a five-wave rally earlier, we still see it as part of a complex sharp W-X-Y correction with the support here in the 61,8% -...
Fear is increasing. But if/when VIX reaches extremes at upper side of 2022 range, then watch SP500 for potential supports. First is at 3800/3750
Amazon is still in downtrend, but support can be near, as it can be finishing a potential ending diagonal (wedge) pattern within wave (C) of an (A)-(B)-(C) correction from the highs. We are tracking final stages of wave 5 of (C) that can ideally stop somewhere in the 80 - 70 area. Any earlier rally back to 130 level might be signal that bulls are already back in the game.
Solana with ticker SOLUSD made strong rise from the lows, which is first leg (A)/(1) of a minium three-wave recovery. So we are now tracking a corrective pullback in (B)/(2), which looks like an A-B-C flat correction that can find the support here in the 19-15 area. A bounce and recovery back above 27 region would be definitely indication that higher degree wave...
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.
ETCUSD can be ready for more upside as market can be forming a new bullish setup formation based on Elliott wave theory. Ethereum Classic with ticker ETCUSD made an impulsive five-wave recovery since December 19th of 2022, when we spotted a completed ending diagonal/wedge pattern within wave C of an A-B-C correction. A five-wave recovery indicates a change in...
Higher yields may cause a bigger correction on DXY, as yields can be still looking for wave 5 by Elliott wave theory. Yields higher, USD strong, stocks down. Risk-off flows may not be over just yet if yields are in fifth wave. However, when yields will make new high and then top after 5th, thats when DXY can complete B/2 rally, with a lower high, when focus will...
I think it bottomed in 2022, and that Eurodollar futures are approaching end of cylce. Bounce will be supportive for the EURUSD. Bunds forming a wedge, turn down on US and BUND yields will make EURUSD bullish (rate differential) like in past cycles Grega
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.
$SPX SP500 turned lower back to 4k and there is room for 3800 as volatility & fear turn up, possibly to the side of 2022 range on $VIX. For now, still 2 counts on the watch list, but the bulls can be back early if 3800 causes intraday impulsive bounce. Bearish if 3800 is broken decisively.
Cryptocurrencies slowed down recently as USD index turns higher for a correction because of inflation concerns. We see USD index in a temporary recovery, means that at some point we will expect more weakness as we think that major top for the dollar has been put in place in 2022. However, there cna be some short-term pullbacks on BTCUSD and DASH as I will look in...
DJIA going down for C wave. So the correction is not done yet it seems. I think that commodity currencies can make deeper pullbacks then; AUD, NZD will be my favorite ones for longs (longer-term) when this correction on DJIA unfolds.
AUDNZD turned sharply down in the last quarter of 2022, away from the upper trendline of a previously bullish EW channel which is usually the ending point of a higher-degree structure on a daily chart. We talked about this in our 2022 updates and warned about a bearish turning point which is now in full progress and will most likely resume much lower as pair shows...