On the Daily chart of Cocoa, blue wave A seems to be completed, because of a sharp reversal to the upside into blue wave B. That said the pull-back in blue wave B may reach the fibo. level of 50% or 61.8% of previous blue wave A, before turning to the downside into blue wave C. www.ew-forecast.com
We see AUDUSD moving sideways around 0.7300 level, which we see as a temporary pause within ongoing downtrend. Keep in mind that we are tracking blue wave 5-circled, which is a motive wave, so we need five waves down from 0.8160. That said we expect new low soon, probably around 0.7000. www.ew-forecast.com
AUDNZD is moving lower as expected into our blue wave (5) , as noted in our last article. www.ew-forecast.com
On the 45 min chart, AUDNZD is trading bearish. Price is trading impulsivly to the downside,currently is trading in a correction in black wave iv-circled. That said price may reach the fibo. level 38.2 % of previous black wave iii-circled, before turning to the downside. www.ew-forecast.com
On 2h chart of GBPAUD we see a nice bullish pattern with five waves up from August low followed by a three wave set-back to 61.8% in wave 2 that might have found a bottom at 2.1094. We see nice upward impulsive reaction that can lift price towards 2.2000 area. www.ew-forecast.com
GBPJPY is higher from 193.53, which could be end of a triangle in wave B). We however want to see rally above 195.16 with wave 1 and then keep an eye on wave 2 pullback for longs. www.ew-forecast.com
EURJPY has slowed down into a sideways pattern in the last two days what looks like a corrective move. We see a triangle in wave iv that can be near completion so new swing highs are expected for wave v that can be targeting even 140.00 area. From an invalidation point of view, we will continue to look higher as long as market trades above 137.00.
Dollar is bullish when compared to Turkish Lira but we see move out from a triangle in wave (iv) as shown on the 2h chart, which means that uptrend can be in final stages to complete wave 5-circle on a daily chart. Ideally near 2.8800-2.9000. So for the short-term traders there can be still some room for longs after coming black subwave iv. www.ew-forecast.com
Nasdaq has been trading bullish since 2008. So far it has made three waves up within ongoing impulse with blue wave 3 still unfolding. On the Daily chart we are tracking an ending diagonal in red wave v-circled that can cause a top for wave three this year. However another high can still occur because on a daily chart we see a triangle in black wave (iv) of an...
Cocoa has been trading bullish since April 2015. It has already made five waves up. Now we are tracking Blue wave A, that may unfold in upcoming days. That said blue wave A may reverse around 61.8% fib. level. After wave A is completed, Cocoa may face a correction in blue wave B. www.ew-forecast.com
EURAUD is moving impulsively from 1.47279 area. It has already made four waves up, with red wave 4-circled in final stages. We may now see a reversal to the upside into red wave 5, targeting levels around 1.5400 - 1.5450. We will be looking for this move higher as long as price trades above the area of red wave 1-circled. www.ew-forecast.com
On the 4h chart, we see that pair is still trading in a corrective pattern - running triangle. It has already completed red waves (a), (b), (c), and (d). That said we are now waiting for wave (e) to unfold. After wave (e) is completed we may see a reversal to higher levels in blue wave c-circled. www.ew-forecast.com
Corn has been trading bearish since 2012. It has made five waves down and a three wave retracement as in blue waves (A)-(B)-(C). We are now waiting for price to break the corrective channel. When price brakes the channel line, the bearish cycle may star over again. On the Daily chart we see blue wave (C) as completed, because of a sharp impulsive movement to the...
GBPJPY has turned down last week, but notice that weakness occurred after a completed three wave rise from 191.00 to around 195.30. This is a corrective structure that belongs to a bigger and more complex pattern. Our primary scenario shows idea of a triangle placed in blue wave (b)-circled so uptrend could still continue but after wave (e) is done. www.ew-forecast.com
On the 4h chart of AUDNZD we see that red wave iii seems to be completed, because of a pull back in red wave iv. Now price is trading in a correction. The pullback in red wave iv may retrace to 38.2 % or 50 % of previous red wave iii. After the correction is completed, price may reach higher levels in red wave v. www.ew-forecast.com
AUDNZD has been trading bullish since April 2015. Pair is trading impulsively, recently completed blue sub-wave (iv) at 1.08890. From here we expect market to continue to the upside into blue wave (v), possibly even to 1.1800 area by the end of the summer.
GBPJPY has been bullish for the last three years, we see an impulsive structure unfolding. Impulse is a five wave move and when this is completed we can expect a three wave retracement. In our case that means big three waves to the downside on GBPJPY. However at the moment we see final leg in this impulsive sequence unfolding. We are tracking red wave (5) that can...
On the Hourly chart of GBPNZD price made three waves up with black wave iii still unfolding. That said pair is now trading in a correction in blue wave 4. The pullback in blue wave 4 may reach the fibo. level 0.382 of previous blue wave 3. After the correction is completed, price may continue to higher levels to around 2.407-2.412. www.ew-forecast.com