GBPJPY is trading in a potential three-wave decline, labeled as a-b and c. We see waves a and b completed, which means current intra-day drop lower can be wave c. Ideally wave c will now reach even lower levels and later search for a base near the middle or lower channel line. The Fibonacci ratio of 100.0 can also act as a region of support and push price higher.
AUDUSD made a sharp reaction up to 0.8100 recently, but not to a new high, so rally was seen as part of a corrective wave 2). In fact, market made a sharp and strong drop through wave 1) low and confirmed that market is within red wave 3) that hit first projected target at 0.7830 region, but there is room for 0.7750 now. Disclosure: Please be informed that...
There is a nice leg up on BitCoin today which looks impulsive so we think market may stay in uptrend untill we see five waves up. Currently, price is in wave three that is trading close to some Fib. resistance zone at 4100/4200 which was actually my target for this week. Be aware of a fourth wave set-back from that levels. Technically speaking there is a bullish...
Daily view: Gold can be trading in a big, sideways price action known also as a triangle correction. A triangle correction is a complex pattern with five legs, with each leg having three more sub-waves. On the daily chart of Gold we see price now trading at the start of leg D) of this triangle pattern and can search for a base near the Fibonacci ratio of...
Vix is at very low levels, a potential support if we respect reaction from the past and pick up in volatility. Normally this occurs when stocks are in corrective pullback, so we would not be surprised to see a new "pop-up" on Vix soon, maybe already this year if we consider that S&P500 is trading at potential highs for a third wave. GH
USDNOK is higher as money shifts into dollar this week which is stronger and stronger, but still too early to confirm any significant change in trend. On USDNOK we see a three wave recovery from the low, so upside can be limited as pair trades close to former wave 4 swing resistance at 8.0094, that comes in near C=A level. Disclosure: Please be informed that...
We have changed our look on the NZDUSD and are now looking at a bigger five-wave bearish impulse in the making. We see first wave 1) as completed and second wave as well. Looks like wave 2) found a top at the 0.7435 level and current drop can be start of a bigger degree wave 3), that can unfold in days or weeks to come. Specifically we see sub-wave 1 of three in...
Cable hit a new intra-day low near 1.3410 and is trying to form a base now which would not be a surprise if we consider an ending diagonal here for wave c of 4. Rise above 1.3515 would confirm a resumption up for wave 5.
EURJPY made a new intra-day drop lower, right into our Fibonacci projection zone for leg c of 4. Ideally will pair now search for a base near the mentioned Fibonacci zone and later make a new reversal higher. A later five-wave rally will indicate a completed wave 4 and wave 5 in progress. Disclosure: Please be informed that information we provide is NOT...
Ethereum recovering after three wave decline as we already mentioned in earlier updates and we are still tracking big triangle. We see a broken channel resistance, which is a signal for higher prices. But typicaly for triangles, we see limited upside and expect only three waves A-B-C up into wave D. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
EURGBP remains in the middle of a corrective rally, as recovery in wave iv should be made by three waves. We see waves "a", and now wave "b" down so more upside can be coming within wave c that may complete wave four near 0.8950/0.9000 area. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our...
USDCAD can be trading in a bigger three-wave correction. We see first two waves, a and b completed, which means current recovery can be final leg c. Ideally wave wave c will search for a top near the Fibonacci ratio of 161.8 and from there make a new reversal lower. A later five-wave fall can indicate a change in trend.
USDCAD made a sharp fall recently, close to 1.2000 psychological level with an extended structure so we labeled leg down from Aug 31 high as wave 3. We know that an impulse is a five-wave structure so more weakness is expected after current recovery is completed. We are talking about black wave 4 that is trading near resistance of 1.2241 level. Disclosure:...
GBPJPY is unfolding a sharp and strong reaction to the upside; we see current reaction as a higher degree wave (C) in progress within wave four. We know that leg C is always an impulse, thus it must contain five sub-waves, before a new reaction lower can come in play. That said we see current wave (C) search for a top near the former wave four at the 164.143 level...
GBPJPY is trading nicely bullish, now specifically at the end of sub-wave three of 3. Ideally a new temporary correction will show up into the following leg four and search for support at the Fibonacci ratio of 23.6 and 38.2. From there a new rally into sub-wave v of 3 can follow.
BitCoin hit new lows, but we still see it as correction. Instead of triangle it's a flat correction within uptrend. We expect a bounce from support arround 38,2% fibonacci retracement and between 3600-3800 levels back to new highs into wave 5. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
Aussie came slightly lower in the last few hours, down to 0.8020 which can be seen as wave b that is part of a complex corrective recovery as talked in past update. As such, wave c is still missing before we may finally look for a new decline. There is a nice resistance at 0.8060-0.8070 from where new leg down may show up. Disclosure: Please be informed that...
NZDUSD is also on our radar screen this week as we think that rally from Aug 31 can be corrective. Reason is of-course slow and overlaping price action which is personality of a corrective movement. That said, upside can be limited, but after seven legs as correction is going complex. It's a double zigzag with final wave c in play within wave Y that may look for a...