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.
Bitcoin may see lower levels after 5 wave drop from recent high. Can be just a correction still, but in three waves, therefore be aware of a more downside.
USDJPY made a new spike lower, away from 114.21, which we now see it as sub-wave C of 2). Ideally will this drop search for support near the Fibonacci ratio of 50.0 or 61.8 and from there make a new rally higher.
Litecoin has turned nicely lower after only three waves up into 70.60 area as we expected. That been said, we have now started tracking a big triangle in wave B, currently with sub-wave C in progress down to 40 area and 78,6% Fibonacci retracement, where new bounce may show up.
USDNOK is trading in a bullish impulse, with corrective wave iv in progress. We expect to see a three-wave pullback within wave iv, before a new rally higher into final wave five of 3 comes in play. Support for wave iv can be seen around the upper channel line. Disclosure: Please be informed that information we provide is NOT a trading recommendation or...
BITFINEX:BTCUSD hit our first top projection at 6200 level, but we still see room for a new high, so we have to be very careful arround those levels! We believe that Bitcoin is in minor three wave correction of red wave (IV) with strong support arround 5000-5200 level and 38,2% Fibo. retracement. Keep in mind that 4th waves can be very complex, for example: flat...
Market is not moving much at the moment, so our major view remains unchanged. We are still tracking commodity pairs such as AUDUSD and NZDUSD that may see more weakness this week, while gold stays under pressure. There is also a stock market still in bullish mode which may see more upside this week if we consider triangle possibility on Dax. NZDUSD was one of the...
FX:CADJPY found support at 89.00 and made impulsive rally last week after long one month complex correction. So, we see five waves up with Bullish Market Truncation in fifth wave, broken channel resistance and three waves down correction, which is our signal for longs. We expect a bounce in days ahead into third wave up back to new highs. FX:CADJPY is bullish...
Ethereum declined exactly from our projected level of wave d and it's very probable that we are still in a big triangle, so we assume that Ethereum is facing final wave e down to 250 and 61,8% Fibo. retracement, where triangle may come to an end.
Good Sunday traders! Hope you had a nice weekend, and a pleasant Sunday. Let's take a look at AUDUSD and its mid-term look. AUDUSD may have recently completed a higher degree three-wave correction within wave IV. Recent drop that followed, away from the 0.8150 region can be an early indication of a change in trend and more weakness to follow. If so, then current...