Hello traders! We see quite clear and interesting pattern on GBPCAD. Looking at the daily chart, we can see a clear A-B-C corrective structure with a triangle in wave B, especially after that sharp and impulsive decline and this is the first reason why we are bearish. Looking at the hourly chart, we can see a five-wave drop away from that C at 1.7500 level,...
German dax unfolded an EW ending diagonal within a bigger wave, which seems to have found a low at the 10280 level, from where a nice rally is now developing. This rally can be labelled as wave 1, first wave of a bigger upcoming cycle that is expected to unravel five minor legs. At the moment we see a temporary pullback unfolding as part of wave 1, which can face...
Hi traders, After that big spike to 1.67 area, EURAUD dropped sharply lower and it's probably unfolding an impulsive five-wave decline, so be aware of more weakness back below 1.60 area within wave »v« of 3 after a small correction in sub-wave »iv« that can find resistance around 1.61 area. If we are surprised by an impulsive rally back above 1.63 region, then we...
Hello Crypto lovers! BITSTAMP:BTCUSD turned sharply and impulsively up away from around 3100 level with five waves into wave A/1. We have actually expected a reversal around 3000 area, but we wanted to be sure. So, five waves up suggest a bullish reversal, but in EW theory, after every five waves, a three-wave pullback follows, which may occur in January of...
Hey Guys, I am tracking, and updating some of the longe-term charts for 2019, so decided to make a quick update for euro, pound and aussie. I also wanted to cover cad but unfortunately 10 mins were not enough for full coverage. I will do my best and cover it in one of the next update. Grega
Hello traders! Today we will talk about Risk-Off mode over NIKKEI225 and USDJPY, where we see a tight positive correlation! As you can see, the main driver for the USDJPY sell-off was NIKKEI225, which may continue later this week, since we have seen an impulsive five-wave decline. In EW theory, after every five waves, a three-wave pullback follows and we can...
Hello traders! We think that the Crypto market didn't find the bottom yet. BITSTAMP:ETHUSD Ethereum is bearish just like Bitcoin because we see them in a perfect correlation. As expected, it has perfectly hit our projected resistance area around 120 area for wave 4, from where we may see another decline towards new lows for wave 5. If we are right, then ETH has...
Hi traders, After that expected rally within five waves, EURUSD can be currently trading in a small three-wave pullback which has already nicely tested that channel resistance line as a support, but it may test it once again before it continues to the upside, but in both cases it's bullish anyhow while it's trading above 1.1270 area.
Hi traders, EURUSD is trading in wave c which can aim towards 1.1320 area where market may see a new turning point; ideally next week.
Hello everyone, EURGBP is trading sideways for the last two years within a very big contracting range. We see that path as a five A-B-C-D-E move where each leg has a characteristic of a correction. It’s a triangle that can be coming to an end of wave B. So, despite very strong leg up in the last few days, this can be still just an early start of a much bigger...
Hello everyone, After a long time I have decided to make a new video analysis, covering some of the charts on cryptocurrnices that suggests to me that bears are not done yet. There is a slow price move, a lot of triangles all over the place, so new lows may occur as contracting range can represents a continuation pattern. Also, there was some nice rally on...
Hi traders, USDJPY made a five-wave drop from the 114.56 highs labeled as wave (A)/(1) as first leg of a bearish turn. This leg caused some sideways price action into wave B)/2) which can be unfolding a flat correction. It's an A-B-C pattern that can take price once more back to 113.00-113.30 area from where we would expect a new but strong sell-off into wave C)/3)
Hi traders, EURJPY made a five-wave drop from the highs, which we labelled as wave 1 as part of a new bearish cycle so more weakness will occur, but only after a pullback into wave 2 fully shows up. This pullback can unfold a simple A)-B)-C) correction, which can look for resistance and a bearish reversal near the 129.23/130.27 area. That said, a drop in minor...
Hello traders! Today we will talk about FX:EURUSD before tomorrows Congressional Elections, so something big can be preparing. What we see is that EURUSD bounced exactly from 1.1300 strong psychological support level for the second time, which looks like a potential double bottom formation?! Not only this, even our primary tool Elliott Wave suggests more upside...
AUDUSD is dropping like a rock at the start of the US session, suggesting that a higher degree wave 4 correction had ended with an ending diagonal in its final wave c. In such case, we expect now to see a drop at least in three-waves, where a break below the 0.7100 level would confirm even more weakness for the pair. Also a drop out of an ending diagonal can...
Hello traders! Today we will talk about pretty clear Russian Ruble. From a technical perspective, we see very interesting price action and wave structure based on Elliott Wave theory. Let's start with Weekly chart: In EW theory, after every five waves, a three-wave correction follows and as you can see, USDRUB is turning down after five waves up. So, we can...
Hi traders, GBPAUD made sharp and impulsive rally, so it must be a wave 3. Currently we are tracking a three-wave a-b-c pullback within wave 4, where we see very nice and strong support at previous wave 3) swing high, 38,2% Fibo. retracement and very important 1.8400 psychological level. That said, be aware of a bounce around projected support, while price trades...
Hello traders! As you know, we remain bearish on Bitcoin and friends! (Watch Related Ideas) So, in a quick analysis we want to show you some evidences of a bearish continuation! On the 1st picture we can see a falling wedge pattern, which means that BTC can be approaching the end of a correction once it hit new lows and completes the pattern. 2nd picture is...