Good evening traders! We have seen a nice turn up on USDCAD following the BOC rate decision, so technicals once again turned out to be ahead of the news. We can see a sharp reaction to 1.2800, where is 161.8% extension target for wave three, so ideally that's a beginning of a new bullish leg, headed above 1.2908. Disclosure: Please be informed that information...
BTCUSD is trading in a bullish impulse of a higher degree, labeled as black wave V. We see four of fives bullish waves completed from 11th of November, which indicate that a top can be near. Current rally that is now underway can be final wave 5 of V, that can see limited upside near the upper Elliott wave channel and near the Fibonacci ratios of 2.618 or 1.0 ;...
BITTREX:VTCUSD is forming clear bullish triangle in wave ("IV") which may end soon, because it's in a final stages of wave "e". To be sure, we always suggest to wait for confirmations. Confirmations are very important, because they give you a signal and more chances of being right! So, in this case, our confirmation is a break above previous wave "d" at 4.8...
BITFINEX:ETHUSD broke into new highs out of triangle as we expected in previous updates and now sharply moving towards our projected levels around 550-600 for wave C. Every cycle needs five subwaves and we don't see them yet, so more upside in view!
BITFINEX:LTCUSD broke above 70, which could be a signal that triangle is finally completed and that bulls are confirmed. We can clearly see A-B-C-D-E formation and broken upper triangle line, so we assume that Litecoin could see new all-time highs towards wave C, where we see our first minimum target and also nice psychological level 117; maybe even higher for a...
AUDUSD did not move much recently, so our view remains unchanged; we still see pair making a corrective set-back in wave B which is now trading into some interesting Fib. Support zone with sub-wave c, here at 0.7579 area. We think bounce may occur from here, but keep in mind that wave C leg may occur only if price crosses above 0.7620, which would be a...
BITFINEX:XMRUSD remains bullish as we expected and projected in previous update (Check Related Idea). So, Monero hit new all-time highs and seems like it's not going to stop yet! We expect further rally towards 170 and 190 levels for wave ("III"), where bulls could slow down into correction of wave ("IV"). So we assume that 5-five-wave rally since September 15th...
EURUSD has turned up in the last two weeks; it broke above the channel resistance line that normally confirms a previously completed move; in our case that was finished a-b-c decline from September high. As such, it seems that wave four on a daily time frame came to an end about we talked a lot in the past which means that more gains may follow now within higher...
TVC:DAX dropped almost 700 points in one week, which is very sharp and impulsive decline. As we can see, decline was in five waves, which confirms trend reversals. So, we expect much lower prices and deeper pullback after minor three waves (A)-(B)-(C) correction. Currently trading in final wave (C), where upside can be limited around projected resistance...
Good evening traders! Hope everybody had a good weekend; now let's start with quick peek of AUDJPY. AUDJPY is displaying a nice bearish reaction away from 89.07 region where red wave (2) had ended. We are now tracking wave (3) that must by the end of its run unfold five minor waves. On that note we are currently observing minor wave 3 of (3) that can search for...
Good day traders! Hope everybody is doing great. Let's dig in. On the intra-day chart of EURUSD, we see price unfolding a strong bullish movement, which suggest an impulse to be in progress. We can see waves 1 and 2 completed, so current strong rally can be wave 3, that may see limited upside near the Fibonacci ratio of 61.8. That said, once wave 3 unfolds a new...
We talked about BitCoin earlier this week and highlighted that five wave fall from a top, which cause a new recovery now in three waves. This is a corrective move, an A-B-C leg that is approaching a very important 7k psychological level. Watch out for a turn down from here; a drop below the channel support would be very bearish for BTC. On the other hand, rise...
Daily chart of EURUSD shows us a five-wave bullish impulse in the making. Current three-wave decline can be corrective wave 4, with temporary support coming in at Fibonacci ratio of 38.2 and the upper channel base line. If price breaks below this region, then our alternate, bearish count would be in play and we would expect more weakness. Disclosure: Please be...
Good morning traders! And its happening....BitCoin has turned sharply lower in the last couple of days which has been expected since we saw market in a fifth wave advance. We know that after every five waves market will turn, so it’s not a surprise to see a drop now, which in –fact, looks impulsive from the high, thus be aware of more losses ahead. That said...
NZDUSD is trading bearish, unfolding a clear impulsive structure. Current rise can be corrective wave 4, that can search for resistance near the Fibonacci ratio of 38.2. A minor five-wave drop from current levels would indicate a completed correction and wave 5 to be in progress. Disclosure: Please be informed that information we provide is NOT a trading...
10 year US notes are in an uptrend, but currently trapped in a three-wave temporary correction. Corrections are three wave patterns, so we look lower now for end of red wave c. Support for wave c can be found at the lower channel line and near the Fibonacci ratio of 38.2.
Monero declined from 155 to 62 and lost exactly 60%! This is interesting sign, but to be more confident, 62 is really nice psychological support because wave (I) resistance became wave (IV) support. There is one more and the most important sign! We see a clear double zig-zag correction, which means that correction could be completed and we could expect Monero back...
Seems like BITFINEX:DSHUSD finally completed a complex correction into wave C of a big triangle. We can clearly see broken channel resistance, so we expect Dash higher into wave D, where upside can be limited arround 61,8% Fibo. retracement and 320 level.