Good day traders! Today let's check out AUDUSD and its 4h bearish development. AUDUSD made a sharp and strong drop around 4th of October, which we labeled it as sub-wave 5 of 3). As such, recent rise is seen as wave 4) correction if we consider a broken trendline from black waves two and four. That said, we think that upside can be limited around resistance of a...
Price on NZDUSD is currently rising, but hopefully only for a three-wave correction, which we see it as wave 2. Simple corrections consist out of three-waves, meaning once sub-wave a unfolds we expect two more legs to show up on NZDUSD. The resistance region for the wave 2 correction can later be seen around the Fibonacci ratio of 38.2/61.8. Disclosure: Please...
USDNOK is unfolding a nice bearish leg, which we see it as blue wave one and now wave two in the making. We can see first wave one fully unfolded, so upcoming reaction higher can be the following wave two that may later search for resistance near the Fibonacci ratio of 50.0 or 61.8 and make a new drop lower. Disclosure: Please be informed that information we...
Litecoin bounced from wave II/b as we projected in our earlier update, broke channel resistance and now we expect a wave III/c to the upside with first potential target arround 70 level and 61,8% Fibo. lvl. If goes above this level, then we expect 3rd wave, which means much higher. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
EURUSD made a new sharp and strong leg higher, which we see it as primary blue wave one, followed by an upcoming wave two. If that is the case, then previous three-wave decline found a base at the 1.1804 level and current sharp reversal is an indication for more upside to follow. However, if prices makes a new bigger drop below the 1.1804 swing low, then maybe...
Bitcoin is breaking to a new high, which was expected after that sharp fall back in September, viewed as correction within ongoing uptrend. There is room for current fifth wave rise up to 6k or even 7k, but be aware that its final leg within big five wave recovery, so corrective turn, a sharp one, should not surprise you. Any early drop below 4500 would suggest...
OmiseGO made five waves up into wave A between July 2017 and September 2017, which is a signal for bulls. Since last month is moving sideways, which is a signal for a correction. We can clearly see that OmiseGO is forming a big triangle pattern into wave B, which tells us that OmiseGO could continue higher. In a lower degree we see that OmiseGO is pointing into...
Price turned sharply higher in the last couple of trading sessions on EURUSD and breached nicely above the first swing high of wave iv) at 1.1777 level. We see current rally as an early evidence of a completed three-wave correction and a minimum three-wave recovery to be in progress. That said, once first wave i) finds a top a new temporary correction into the...
We see AUDUSD trading at the end of a temporary correction of wave four. Ideally Fibonacci ratio of 50.0 will offer some resistance and a new drop lower, into final wave five. A new five-wave drop can later then unfold within the blue wave five. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All...
Ripple hit our projected resistance for wave d and went slightly higher, but triangle is still valid. So be aware of decline in three waves back beneath 0.20 level for wave e, where we see a completion of big bullish triangle, which means that Ripple could explode to the upside out of triangle, probably at the beginning of next year.
Price looks to have been trading within a triangle correction of a lower degree wave iv), that caused a drop down into a fifth wave, to 1.1660 level that we highlighted it as potential support. Market turned up slightly on Friday from that zone which may lead to more euro recovery, but for an important uptrend continuation we still need an impulsive reaction of a...
USDJPY shows evidences of a bullish triangle from Sep 20, which in fact can be already finished at 112.40 so we think that sooner or later pair can be above 113.25. Technical picture suggests positive USD reaction for NFP today at 12:30GMT. A Triangle is a common 5-wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles...
GBPUSD is trading sharply to the downside, which gives us an idea of a change in trend, from bullish to bearish. Because of such clear price movement, we can say that price may be trading within an impulse of a higher degree. Specifically sub-wave three of 3 can be in progress, meaning even more weakness may be seen at the end of this week. Ideally bears will be...
Ripple is sideways already for a long time and it follows our count (triangle into wave B) perfectly. For now it looks very clear. Even if it lost 50% since August 23, decline is still in three waves. So Ripple bounced from our pojected wave C support and we expect now three waves up into wave D back to 61,8% fibonacci retracement and 0.24-0.25...
Ethereum is still sideways in a triangle corrective pattern as we mentioned in earlier updates. It's pointing up into wave D now with double zig-zag, similar as correction into wave C. Keep in mind that upside can be temporary limited arround 78,6% Fibonacci retracement and 350 level. So be aware of another decline into wave E after reached wave D! ...
AUDNZD is trading higher, unfolding a five-wave bullish impulse towards the Fibonacci ratio of 100.0 or even 123.6. Specifically we see price trading at the end of sub-wave 3), which means a temporary corrective pullback may follow in the near-term. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice....
Dash is trading nicely in A-B-C correction with triangle in B as we mentioned and projected in the last update, so it may decline beneath 300 before turn to the upside. Ideal support is between 275-295 levels and 50%-61,8% Fibo. retracement. Five waves up, broken channel resistance and three-wave correction are reasons for clear pattern, bullish view and also...
German Dax is finally breaking out of a fourth wave triangle, now in fifth wave so there is room for a move up to 12910/12950 region, where market may find a temporary resistance and send price south in three waves. We see some important Fibonacci ratios at the mentioned region that can react as turning point zones. A later minor five-wave drop and a break below...