Good morning traders. We are entering day by day in to the summer trading environment where liquidity is starting to be limited. Stocks are still sideways in US except Nasdaq and DAX which made a nice move lower last week. Todays calendar starts with BOE Carney soon and US ISM employment numbers later. Let's start with USDCAD. USDCAD is now trading in a...
10 Year US note seems to have completed the ending diagonal that was located in wave C as part of a higher degree correction, which now means that more weakness can follow. This breach lower can now suggest that a five wave drop could be in the making. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment...
Lisk made a three wave pullback into blue wave (4) correction and later found some support at the region of the former wave four at 0.00079674 level. We know former corrections can usually act as turning points and in our case as a support. That said current rally can now be start of a new impulsive leg higher, with price currently trading at the beginning of...
BTCUSD may unfold a more slow and choppy movement in the next couple of trading sessions as we see a corrective phase in action. We see red wave A completed with three waves and also wave B. Current weakness can now be red wave C, that can search for a base around the 1854 level. Disclosure: Please be informed that information we provide is NOT a trading...
USDJPY made a nice bullish structure from 14th of June, which has ideally ended two days ago. If that is the case, then we now see a three wave consolidation in progress, with waves a) and b) completed and current intra-day weakness can be wave c) of two in motion. Current leg c) can see limited downside around the area of a former wave iv) at 110.64 or around the...
As we can see Lisk is trading bullish since March of 2017, and can be now trading within the final stages of a fourth wave correction. On the 1h chart we can see a triangle correction in the making, with recent price activity unfolding as a sub-wave E, final leg of a triangle. If that is the case, then more gain may follow on the virtual currency. A confirmation...
Cable is on the move, now making a strong decline down from 1.2750 following a completed corrective sub-wave 2. Current leg down is strong so probably an impulse that can broke below 1.2630 which may be a very important breakout based on a higher degree trend. Disclosure: Please be informed that information we provide is NOT a trading recommendation or...
Good day everyone! In today's post I want to take a look at USDJPY more closely which I believe has some very interesting pattern unfolding since last week. What really caught my eye is that move up from 108.80 area that occurred for a second time from that important »Gap Zone« made in April. These gaps will normally act like a magnet to be filled, and once they...
EURUSD made a strong and sharp reversal away from 1.1295 level where we labeled top for a higher degree wave C. As such recent break lower could suggest that bulls are completed and that bears are taking over. If that is the case, then even more weakness may unfold on the pair. On that note, we see current intra-day activity as an unfolding corrective move, that...
BTCUSD Daily look is showing us a potentially completed five wave rise with current weakness representing the start of a three-wave corrective phase. If that is the case, then a three wave A-B-C decline is in view for the virtual currency that can extend towards the previous wing low of wave 4 at 1850 level. Disclosure: Please be informed that information we...
NZDJPY touched 80.00 area which may be a very interesting resistance right into the FOMC event. We also see a structure of an ending diagonal in wave five of C so ideally price will turn down soon. But as always I like to wait on a confirming price action, which in our case would be an impulsive decline and close beneath 78.91 area. In such case we would start...
Bitcoin is unfolding an impulsive pattern to the upside, which means that red wave 4 correction has ended around the 1800 mark. We now see a five wave impulsive movement which unfolded in black wave 3 and found a top near the 3000 level. Wave 3 can so be completed and recent pullback could represent black wave 4 correction. That said, if wave 4 correction is...
Cable fell sharply to the downside last week which has been technically expected after we identified a bounce up into a corrective wave 2 with limited upside near 1.2960-1.3000 as highlighted in past updates. A decline was very strong from there, so it may be only a start of wave 3 that can be headed to much lower levels, possibly even to 1.2450 for wave three of...
Gold turned sharply lower then past week from 1295; clearly in impulsive fashion so it appears that metal is headed into much deeper levels within a correction of a higher degree. On the updated chart we are looking at A)-B)-C) decline in progress down to 1258 area, or possibly even back to 1245 before market may look for a new bounce; most-likely at the end of...
Current correction may only be temporary, as we see it as blue wave iv, which means we expect one more push up to follow into blue wave v of 5. Drop below 0.7500 would likely indicate a completed rise, thus a larger decline can be seen. Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is...
On daily chart of bitcoin we see a big bullish impulse coming to and end with red wave 5. Red wave 5 is now trading around 2800 region and may ideally reach the Fibonacci ratio of 0.618, where bulls can slowdown and a new bigger three wave reversal can start to develop. Disclosure: Please be informed that information we provide is NOT atrading recommendation or...
Cable is turning down, so ideally pair accomplished a three wave recovery from 1.2770. If that is the case then we know that pair can be underway down to a new low, especially once wave B) swing low is broken. I was considering to look for trades on that one, but with UK elections on Thursday, not sure if we will get any breakout yet. Check our new video...
AUDUSD is on bearish foot this week with some nice bearish structure seen on intraday chart that looks impulsive. As such, we expect a new low soon, probably today to accomplish blue wave one near 0.7350. We will look towards that level as long as 0.7445 is not broken. Disclosure: Please be informed that information we provide is NOT a trading recommendation or...